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Your home is your castle, right? It's many people's largest financial asset. But, when it comes to home insurance most people just want to get the cheapest policy they can buy. Why? The reason is they think that all policies are the same. Sadly they are not!

Don't get me wrong. My goal is to always help my prospects and clients save money on their home insurance, but we're not going to sacrifice coverage to do that.  No one has ever told me, after a claim, "I'm glad I saved money on my insurance." No. They say, "I'm glad I had the right coverage."

We want you to be able to say "I have the right coverage." Here are 3 critical limitations in your home insurance policy that could cost you thousands if you're not aware of them.

  1. Roof  - That's right! Depending on your policy, your roof could have serious limitations in the event of a hail or windstorm. More and more insurance companies are putting restrictions on the replacement value of roofs. I'm working with a client right now in which her current home insurance company has an endorsement on her policy that basically states that if your roof is over 10 years old at the time of a hail or windstorm your coverage will be Actual Cash Value not Replacement Value. This little change in your policy will cost you thousands of dollars at the time of a claim.
  2. Water Back-Up of Sewers & Drains - This type of claim is excluded in your home insurance policy. But, you can buy back some coverage so that if this type of loss occurs in your home you'll have some coverage. As our towns age so do the sewer systems to which our homes are connected. For $2-$5 per month on your home insurance policy you can add $5,000-$10,000 of coverage.
  3. Loss/Misplacement of Jewelry - This limitation could cost you tens of thousands if you're not properly covered. Your home insurance policy limits coverage for jewelry to a small amount of theft coverage. Loss, misplacement, mysterious disappearance are not covered perils unless you schedule your jewelry.

Don't focus on the cost of the insurance, focus on the coverage. Then, work with an independent agent who'll shop multiple insurance companies to find the home insurance policy that meets your needs, provides the best coverage, and getting all this at the best possible rate. Often times, my agency team can find superior insurance protection and savings, together. Truly a WIN-WIN for you!

Call us for a FREE policy review, we would be glad to help you.

Author Richard Morris

Richard Morris, an independent insurance agent in Gilbert, Arizona and Chandler, Arizona, has been serving and helping Arizona families and businesses with all their insurance needs for over 25 years. Visit his website at to see all the ways he can help you with your insurance needs or call the office at (480) 336-2707 or toll free at (888) 907-9349. Connect with Rich on Google+ and Twitter.

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