Buying the right level of homeowners insurance is a lot like the story of Goldilocks.

In the children’s fable, Goldilocks comes upon a house in the forest and knocks on the door. When no one answers, she walks inside and finds three bowls of porridge on the kitchen table. The first bowl is too hot and the second is too cold … but the third bowl?

That bowl is “just right.”

That’s how homeowners insurance is. You can easily find yourself underinsured — and in some cases — overinsured. The thing is, you want to get the right level of coverage for your specific needs. Here are a few tips from QuoteWizard:

  • The biggest mistake most people make is underinsuring their homes. Most people go with the least amount of coverage, in hopes of saving money. But what happens when a pipe bursts in your kitchen and causes a flood — and your coverage isn’t enough to cover all of the damage?
  • The second biggest mistake is underestimating the extent of your homeowners coverage. Most people just file their paperwork without reading it carefully, so they never get a full understanding of what is or isn’t covered. So ask your agent to summarize your policy for you. 
  • The next biggest mistake is setting your deductible too high or too low. Many of us do that because we think it will save us money. But with too low a deductible, we pay more when something goes wrong. And too high? We end up with big premium payments.

Other mistakes include: 

  • Assuming a standard policy will protect you if your home develops mold or sewage backup problems. The sad truth is that many homeowners policies don’t offer this coverage.
  • Buying just the legally required amount of liability insurance. Liability coverage protects you if people are injured while in your house, and if you, family members, or pets injure someone or damage their property.

Questions? Contact Carol Smith at 661-803-3803 or visit