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Homeowner's Policy: Are you sure you're insured?
by Staff
If you really think you know what you are doing when buying homeowners insurance (chances are you don't), then this quiz should be a breeze.

You should consider the price of your land before buying insurance.

  • fact
  • fiction

The cost to rebuild your home should be based on the price you paid for it.

  • fact
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The cost per square foot is usually a good indicator of how much insurance you need for your house.

  • fact
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The style of your house does not affect the cost of rebuilding your home.

  • fact
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Floods are covered by homeowners insurance.

  • fact
  • fiction

A burst water pipe is covered by homeowners insurance.

  • fact
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When figuring out how much insurance you need, you should take into consideration your possessions.

  • fact
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Actual cash value for your stolen or damaged possessions allows you to recoup the amount you expect to get if you sold the items, minus the depreciation.

  • fact
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Most companies provide personal property coverage up to 70 percent of the amount of insurance you have on the structure.

  • fact
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Trampolines do not affect the cost of property insurance.

  • fact
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A major hurricane or tornado can push rebuilding costs more than the policy limits.

  • fact
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If you have to rebuild your house to new building codes, your insurance will cover the added expense.

  • fact
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The best way to figure out the value of your possessions is to conduct a home inventory.

  • fact
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An older home might cost you more money to insure.

  • fact
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If you have a large older home, you might want to insure the structure for less money.

  • fact
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You shouldn’t get special coverage for antiques, jewelry or other valuables.

  • fact
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You have to buy special coverage if you cannot stay in your home after a disaster.

  • fact
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You should buy enough liability coverage to protect your assets.

  • fact
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You can save money by bundling your car and homeowners insurance.

  • fact
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A large deductible can save you money.

  • fact
  • fiction