Keep the following points in mind as you evaluate your homeowners insurance policy.

• Verify adequate dwelling and personal property coverage limits. Underinsuring these areas may result in a claim settlement below the cost of rebuilding, replacing or repairing the damage.
• Identify what the insurance policy does and does not cover. Review exclusions, limitations and loss settlement restrictions. Look for coverage gaps and talk to the local agent about policy add-ons for these issues. Put sufficient insurance protection in place before there is a claim.
• The insurance contract outlines policyholder duties following a loss. Among these: promptly report the incident protect the property from further damage, allow the insurance adjuster to examine and assess damage, provide a list of damaged personal property and more. Be familiar with these requirements.