Table of Contents
Insuring Your Home
Basic Coverage Availible
Replacement Cost Versus Actual Cash Value
Insurance Packages
Other Factors to Consider
How to Select an Insurance Agent
How to Select an Insurance Company
Options if You Can’t Find Coverage
Your Lending Institution
In Case of Loss
Policy Termination
Burglary Prevention
Your Rights and Responsibilities
Insurance Discrimination Against Victims of Abuse
Protecting Your Privacy
Community Outreach Programs
Insurance Fraud Costs Us All
Glossary

Charts and Diagrams
Declarations Page
The Loss Chart for Basic Policy
Homeowners Inventory Checklist

You have the right to choose your own insurance agent and company. You do not have to buy your insurance from the lending institution financing your home, though if you fail to obtain or keep your own coverage, your lender may obtain a force-placed policy for you.

You have the right to a fair quote for coverage, and you are entitled to a refund of the excess if your agent quoted your premium incorrectly and you paid too much for your policy.

You have the right to a proper and timely investigation of legitimate insurance claims.

You have the right to receive copies of all forms and applications signed by you or your agent.

You are responsible for verifying licenses. Call the DFS Consumer Helpline toll-free at 1-800-342-2762 to verify the license of an insurance agent, customer representative or insurance company.

You are responsible for reporting suspected fraud to DFS. Call our Fraud Hotline toll-free at 1-800-378-0445.

You are responsible for filling out a complete and accurate insurance application and reading what you sign. Avoid signing any blank, incomplete or inaccurate form.

You are responsible for reading and keeping copies of all forms and applications signed by you or your agent.

You are responsible for obtaining a binder (i.e., proof of coverage) from your agent or company once you sign the application and pay for coverage.

You are responsible for reporting to your company or agent any changes affecting your policy (like home improvements or the purchase of additional personal property).

You are responsible for keeping insurance records, letters, claim-reporting information, advertisements and other papers sent by your agent or company.

You are responsiblefor keeping copies of your important insurance records in more than one safe place, if possible. For example, you could keep backup copies in a safe deposit box or with a trusted and responsible relative or friend. You may need quick access to such information if you must leave your home.

You are responsible for contacting your agent or company immediately after a home or property loss occurs.