Wise Insurance Quotes Study Shows Battle for Lower Insurance

Las Vegas, NV, July 29, 2013 --(PR.com)-- Homeowners buy insurance on their property to protect it in case of a fire or other catastrophe, and purchasing cheaper homeowners insurance is getting easier by the day, according to a new study by Wise Insurance Quotes.

Homeowners policies are intended to give consumers peace of mind in case of a fire, theft or another catastrophe. But with increasing competition among insurance companies in the marketplace, many homeowners find out the hard way that some damages aren’t covered at all and that others are only partially covered.

Flood insurance is one of the most misunderstood coverages in the industry. Damage caused by flooding is usually only covered by a special flood insurance policy provided by the federal government. Personal property can be destroyed in a major flood.

Many homeowners believe insurance will protect them in almost any situation, but that isn’t the case as insurance companies look for more issues to exclude. Earthquake damage is excluded from the common homeowners’ policy. Not all areas of the country are at risk for damage from a quake so you may be able to do without this coverage, but damages from a major earthquake can be extensive in areas that are at risk.

Landslide and sinkhole damage won’t be covered under the typical policy either. The soil beneath your home could move and end up damaging or destroying it if you live on expansive soil. This type of soil contains large amounts of clay that tends to slip under some circumstances after heavy rains.

Even though homeowners insurance covers damages from many issues, researching exactly what is covered can make the difference between living in a home that is in good condition and dealing with problems for years. Check out the latest on insurance news and get quotes on homeowners insurance, life, car, renters and health care at Wise Insurance Quotes.com.