Residential Insurance Home-Renters

Residential Insurance: Homeowners and Renters This guide was designed to give you a better understanding about the kind of homeowners and renters insurance that is best for you. In order to best protect your family, your home, and your possessions, it is wise to take the initiative to fully understand your homeowners or renters insurance policy. While it is difficult to predict future losses, you can minimize the impact on yourself and your family by spending the time necessary to familiarize yourself with your policy and how it specifically addresses your needs in the event of a loss. When you purchase insurance, it is important to remember to shop for insurance in the same way that you shop for any other consumer product. Take the lead in shopping for and understanding your insurance policy. Make sure to compare prices, policy coverage and conditions, and complaint information. Also, research the coverage options that are available to you. Don’t rely only on the word of someone else, including an insurance agent or broker, as to what is the “best coverage” for you. Find an agent or broker who is willing to spend time discussing your needs and how specific insurance coverage can best meet your needs. It is always wise to compare policies on your own to help determine the best product for you. Always try to plan ahead when you need to purchase insurance. Allow the proper amount of time to make an informed decision. Never make important decisions on the spot without conducting research first. You should always take the lead in deciding what sort of insurance to buy and how much insurance you need. Throughout this document we have italicized industry terms and described them more completely in the Glossary of Terms on pages 28 – 31. Introduction 4

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