House Insurance Explained | How To Read Insurance Quotes

Insurance is one of the most valuable things your assets can have, especially during a disaster, but just like with anything, it can be very confusing to understand. In today's video, we will be breaking down an insurance quote and going into detail on each line.

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0:00 - Intro
0:28 - Types of policy
2:29 - Deductibles
4:00 - Explaining Coverage
6:31 - Other Structure
7:21 - Personal Items
9:08 - Living Expenses
10:42 - Liability Coverage
12:15 - Discounts
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[SkotyDsntKnow]

Wow, finally a guy who breaks a subject down with clarity, ease, great segment change, and doesn’t spend the whole video trying to sell me some bs training course on how to read policy. Thank you Great job, keep it up!

[alyxfalis]

This was WONDERFULLY helpful! Thank you!

[lnagel]

We have been with one insurance company for 45+ years and have had perhaps 2 or 3 automobile (minor fender bender) claims during that time. 10 years ago, we had a major claim...fire, not our fault....fault lay with air conditioning condenser installer who generated spark, setting insulation on fire. The claim was for around $500k. We had more than adequate coverage. We were out of the house for nearly two years during the rebuild process. Rebuilding was pleasant in comparison with the nightmare of dealing with the structure appraiser. Recently, I had a minor fender-bender and was advised by local insurance agent to file claim. Fiasco. They will only pay from a list of 10 shops in town, none of which fix my make of car. They've told me there will be no payment for this accident. (I was at fault.). We have recently purchased a multi-million dollar home in another state, and feel this might be an opportunity to leave this company and acquire a new, bundled set of policies from a high end company like Pure or Travelers, or Chubb. How would you approach this transition to maximize our ability to switch providers?

[leri]

Where do solar panels fall into this? Does it go to Other Structures or Dwelling or Personal Property?

[AlliNWnderland.]

So what is a reasonable number for dwelling coverage? The house I’m looking at costs 372k I’m receiving quotes that range from 300k - 348k. These wouldn’t be good right?