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Home insurance is a complicated but necessary cost of owning a home and it’s vital to understand what your home insurance policy covers and what it does not. Otherwise, you could feature in one of those horror stories where people attempt to make a claim only to discover they are not covered.

There are two different types of home insurance, buildings and contents.

A clever analogue to distinguish between the two is imagining turning your house upside-down. Everything that falls out, that is not ‘fixed’ to the building, should be covered by your contents insurance. Everything else that is still attached should be covered by your buildings insurance.

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A new report from the Insurance Information Institute (I.I.I.) revealed that dog bites represented more than one third of home insurance claims in 2010. Despite this high number of claims, the I.I.I. found that dog bites remained relatively consistent with those in the year prior.

Nearly $413 Million Paid in Liability Claims

According to the I.I.I., nearly $413 million was paid out in home insurance claims as a result of dog bites. While the total claims payouts were slightly higher than in 2009, the number of dog bites claims decreased to 15,770 in 2010 from 16,586 a year prior.

Some reasons for the rise in claims payouts despite the decrease in claims made were increases in medical costs, the size of settlements, judgments and jury awards to plaintiffs.

Learn More during National Dog Bite Prevention Week, May 15-21

The I.I.I. rep

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In 2005, the United States, especially the Florida coast and New Orleans, were hit with seven hurricanes that made landfall. At the same time, America’s home insurance companies were hit by an estimated $60 billion bill.

The 2005 season was the busiest on record, with 27 named storms and 11 federal disaster declarations. The year’s three most devastating hurricanes, Katrina, Rita and Wilma, together accounted for over $45 billion of the total losses. As a result of the pounding the Florida and Louisiana coasts took along with insurance companies, many insurers chose not to renew policies the next time they were up for renewal. The Read more…

The first Sunday in November marks the time to set your clocks back. It also marks the onset of darker evenings. Home insurance experts say it’s a time when burglars can increasingly target properties this time of year. They have more dark hours which gives them a great opportunity to strike, according to Halifax Home Insurance. The insurance provider says last year they recorded a 63 percent increase in burglary claims during winter months compared to summer months. “Year on year we typically see far more burglaries occurring during the winter,” said Halifax Home Insurance Senior Claims Manager Martyn Foulds in a news release. ” Bur Read more…

I was told by my ex that a home insurance agent was coming to look at the INSIDE of my house. I was under the impression only appraisers came to look at the inside of your home. Do home insurance agents do that now too? What’s the cheapest home insurance?

Home insurance should be the order of the day for homeowners on the East Coast bracing for Hurricane Earl’s arrival. While the storm has been reduced to Category 3, it is bringing dangerous rip currents and large swells that could severely damage coastal homes in North Carolina, Virginia and more states up the coast.

Earl is On His Way

For homeowners living on Okracoke Island on North Carolina’s Outer Banks, mandatory evacuations have already been ordered. The same goes for all visitors to Hatteras Island. The storm, which lost some of its punch early on Wednesday, is still a major threat with winds near 125 mph. It

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