A home insurance checklist for purchases and renewals

Buying a home: coordinate the timing.

Mortgage lenders generally require proof of homeowners insurance. Ask your lender or closing contact what evidence is required and when it is due. [1] Share those requirements with your agent rather than assuming that a quote request completes them.

Renewing: explain what has changed.

Bring up additions, renovations, new uses of the property or items you would like the agent to review. The NAIC recommends reviewing home insurance needs and notes that rebuilding or replacement cost is a different concept from depreciated value. [2] Ask how the proposed policy treats the house and belongings.

Treat roof information as information, not a guess.

Roof age or update dates may not be obvious, especially when buying a property. Keep any information from a seller or inspection identified as coming from that source. A missing date should stay a question until it can be checked.

Ask about water and other exclusions.

Flood damage is not generally covered by a standard homeowners policy. [2] Ask your agent about the kinds of water damage you are concerned about and whether separate coverage or an endorsement should be discussed. A general guide cannot decide whether a particular loss would be covered.

Questions to bring with you

• How was the proposed dwelling amount determined?
• Which deductibles apply, and when?
• How are the roof and belongings valued after a covered loss?
• Which exclusions or optional coverages should we review?