10 Problems You'll Have if You Don't Have Enough Homeowners Insurance
The Californer/10285981

NEWPORT BEACH, Calif. - Californer -- 1. Financial Losses of the Home and Belongings

Repairing a home is expensive. Construction requires expensive materials and labor, both of which currently are at inflationary highs in pricing. If your home is damaged by fire, a windstorm, severe cold or hail, you may have to pay a substantial portion or all of the costs to repair your home on your own if you have inadequate homeowners insurance.

Having the Right Type of Home Insurance Policy

Most insurance companies don't sell an HO-1 or HO-2 policy, and most Americans have an HO-3 policy, which covers most common perils. Even still, if your coverage limits are not enough to pay for extensive repairs or a complete rebuild, you may be fresh out of luck.

Don't Underestimate Personal Property Damage

The personal property damage portion of your policy covers your things. If you fail to update your inventory of belongings and buy expensive items, you may not have enough home insurance. Insufficient coverage for personal belongings can leave you paying out-of-pocket to replace furniture, appliances, electronics, clothing and other items.

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Jewelry, Art and Other Valuables

Don't wait to find out that you need a rider to insure expensive collectibles, fine china, artwork or gold and diamond jewelry, which will be inadequately covered by the personal property portion of your homeowners insurance. If you store valuables at home, make sure you have a rider for each piece.

You May Have Temporary Living Expenses

If your home becomes uninhabitable due to a covered peril, you may have to cover the cost of temporary housing, meals and other living expenses. Make sure you have temporary living expenses insurance, which is also called loss-of-use coverage, to help you pay for hotel stays or other types of rentals. If you're forced to eat out often while your home is being repaired, you may be reimbursed for meal costs.

2. Legal Problems You May Face

Many homeowners don't know that homeowners insurance will cover legal bills that may arise from accidents in the home. See how it works.

Liability for Injuries

If someone is injured on your property and your homeowners insurance's...

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