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Agent Name Here, Realtor Ò Your Brokerage Company | 888.888.8888 | 19 CLOSING MOVING PREPARATION INSURANCE Homeowners insurance is a must because it covers the cost of repairing, rebuilding, or replacing your new home or items in your home if it is damaged or destroyed. Typical policies also protect you with liability coverage against accidents in or on your new property. A lender requires homeowner's insurance, usually including the cost in your monthly mortgage payment. Clothing, furniture, appliances, and most of the other contents of your home are typically covered if they're destroyed in an insured disaster. You can even get "off-premises" coverage, so you could le a claim for lost jewelry, say, no matter where in the world you lost it. If you own a lot of high-priced possessions (ne art or antiques, ne jewelry, designer clothes), you might want to pay extra to put them on an itemized schedule, purchase a rider to cover them or buy a separate policy. Homeowner's insurance policies do not include ood damage. Flood insurance is a separate policy and is different from water backup protection. Ask your agent to go over the details of water damage risks. Actual cash value covers the cost of the house plus the value of your belongings after deducting depreciation (i.e., how much the items are currently worth, not how much you paid for them, which can be a substantial difference). Replacement cost value policies cover the actual cash value of your home and possessions without the depreciation deduction, so you would be able to repair or rebuild your home up to the original value. Guaranteed (or extended) replacement cost/value is the most comprehensive coverage. This ination-buffer policy pays for whatever it costs to repair or rebuild your home—even if it's more than your policy limit. Liability coverage protects you from lawsuits led by others. This clause even includes your pets! So, if your dog bites your neighbor, no matter if the bite occurs at your place or hers, your insurer will pay her medical expenses. Be sure to review in detail with your insurance agent what your policy does not cover! 3 LEVELS OF HOMEOWNERS COVERAGE

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