Homeowners insurance
Reviewing your homeowners insurance
Know what your policy says before you need it
8 min workbook
Why this matters
Most homeowners have never read their policy. The time to understand it is before something happens, not after.
This guide helps you locate and read the key pages. It does not interpret your coverage.
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Start with your declarations page
The declarations page is the summary page of your policy. It generally lists coverage amounts, deductibles, the insurer and the policy period.
My policy at a glance
What to review
- Dwelling coverage
- Coverage relating to the structure itself.
- Other structures
- Coverage relating to structures such as detached garages or fences.
- Personal property
- Coverage relating to belongings, subject to policy terms and limits.
- Liability
- Coverage relating to certain claims against you, as defined by the policy.
- Loss of use
- Coverage that may apply to certain additional living expenses, as defined by the policy.
- Deductibles
- Amounts you may be responsible for. Some policies have more than one, such as a separate wind or hail deductible.
WORKWELL does not interpret coverage and cannot promise how a claim would be handled. Your insurer or a licensed professional answers coverage questions.
Changes that may warrant a review
- Renovations
- Additions
- Newly acquired expensive personal property
- A home-based business
- Significant changes in local rebuilding costs
What you've heard vs. what you should know
What you've heard
“My policy covers everything in the house.”
What you should know
Policies contain limits, exclusions and conditions. Certain categories of property may have specific limits.
What you've heard
“I only have one deductible.”
What you should know
Some policies include separate deductibles for particular causes of loss.
What you've heard
“Renovating doesn't affect my insurance.”
What you should know
Changes to the home can be worth discussing with your insurer.
Where am I today?
Start here
Locate your declarations page and read it once, start to finish.
30-day WORKWELL challenge
0 of 5Reflection
Three questions I want to ask about my policy:
Your next step
Store the declarations page somewhere you could reach it quickly, including from your phone.
Take your three questions to your insurer or agent.