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Understanding home insurance policies | Business

I started this week with news that home and business insurance companies have stopped writing new policies in the state of California. While there were several reasons why, one was the rate of inflation is making it difficult to correctly value the risk. Ask yourself, do I have the necessary insurance on my home?

Whether you own a single family home, a town home or a condo, home ownership comes with pride and responsibilities. No one wants to buy their home twice and that is why we purchase home insurance. Unlike car insurance, where the state, by law, dictates the parameters of auto policies, home insurance policies are designed by each insurance company and then approved by the state. Thus, it is not easy to compare home insurance policies.

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