Ultimate Insurance Coverage Checklist
Welcome to your one-stop insurance coverage checklist brought to you by Terry the Policy. Whether you’re safeguarding your home or your vehicle, this guide ensures you never overlook a critical coverage detail.
Declaration Page Review
Start with the declaration page. It lists your policy limits, deductibles, and covered perils. Compare line items against this checklist:
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Dwelling Coverage
– Replacement cost value for your home structure
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Personal Property
– Actual cash value vs replacement cost
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Liability Limit
– At least $300K recommended
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Medical Payments
– Coverage for guest injuries
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Additional Living Expenses (ALE)
– Hotel and living costs if home is uninhabitable
Peril Specifics
Check whether flood, windstorm, or earthquake are included or excluded:
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Flood Insurance
– Requires separate NFIP policy
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Windstorm Coverage
– Often limited in coastal zones
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Earthquake Insurance
– Separate endorsement
Auto Coverage Essentials
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Bodily Injury Liability
– 100/300 minimum recommended
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Property Damage Liability
– Covers third-party vehicle damage
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Collision
– Repairs to your vehicle after an accident
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Comprehensive
– Non-collision losses: theft, vandalism, fire
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Uninsured Motorist
– Protection against at-fault drivers without insurance
Endorsements & Riders
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Replacement Cost Endorsement
– Avoid depreciation on personal property
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Scheduled Personal Property
– Higher limits for jewelry, electronics
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Inflation Guard
– Automatic increase in dwelling limits
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