I have the kind of homeowner’s policy that my mortgage lender required, so I’m covered for pretty much everything, right?

Wrong! A homeowner’s insurance policy may be one of the best investments you ever make. But that investment only pays off in very specific situations. If something you want to protect isn’t specifically listed in your policy, it probably isn’t covered.

• Your policy may pay for the repair or replacement of your house, but may not pay for the furniture and other contents.
• Some things inside your home may be covered while others are not, and damage from some kinds of disasters, such as floods, aren’t covered at all by ordinary policies.
• It is important to read your policy carefully and think about the amount of protection you need. If you want a type of coverage not listed in your policy, ask your insurer how to get it.