| If you are like most people, you will probably | | | | locations, etc.). Please be advised that theft |
| never need to submit an insurance claim. But no | | | | insurance applies only when a building is ready for |
| one is immune to bad luck, and it is good to know | | | | occupancy; vacant buildings are not normally |
| that the premiums of many people like you are | | | | insured for theft for more than 30 days (see |
| available to pay for your mishaps and | | | | "Vacant premises," page 8). |
| misfortune,if they occur. Within limits, home | | | | It pays to compare! Not all home insurance policies |
| insurance reimburses you for your financial loss | | | | are created equal, nor are they priced the same. |
| arising from mishaps that are generally "sudden | | | | When buying a new policy or renewing a current |
| and accidental" and, therefore, hard to predict and | | | | one, you may wish to obtain quotes from a |
| prevent. | | | | variety of insurance agents(who work for one |
| There is no such thing as a standard home | | | | insurer), and independent brokers (who represent |
| insurance policy. Because coverage may vary | | | | different insurers). When dealing with independent |
| from one insurer to another, it is very important | | | | brokers, it is important to know which companies |
| to have your broker or agent explain the policy | | | | they represent and where they place most of |
| to you before you agree to purchase the | | | | their business. |
| coverage. | | | | Some insurers offer discounts or other incentives |
| Insurance coverage on your home should begin as | | | | for policyholders who install sprinkler systems and |
| soon as you become the legal owner or | | | | monitored intruder alarms. Some reduce |
| tenant,even if the home is still under | | | | premiums for seniors. Employment by a particular |
| construction.(Your home insurance policy can also | | | | organization,or membership in an organization such |
| cover related building materials on or adjacent to | | | | as a credit union or alumni association may qualify |
| your property.) Before moving, call your broker | | | | you for an"affinity" discount. Some insurers offer |
| or agent and go over any special insurance needs | | | | discounts to loyal, long-term policyholders - a |
| related to themove (e.g., covering contents in | | | | factor worth considering if you have been happy |
| transit, or simultaneously at both old and new | | | | with your insurer's prices and service. |