Buying a new home can be an exciting event but when it comes to buying homeowners’ insurance you could feel overwhelmed and confused by the huge amount of information available. Understanding three common insurance terminologies may help you choose the right Idaho home insurance policy for your needs.

• 1. Deductible. Most insurance policies have a deductible, which means if you make a claim you must pay the amount of the deductible before the insurance company is obliged to pay additional costs. The deductible amount may vary from fifty dollars to five hundred dollars depending on the type of policy you have purchased. Sometimes a high deductible may help lower the cost of your premiums.

• 2. place or repair. Some insurance companies attempt to repair a broken item before replacing it. Read potential policies very carefully if you would prefer replacement over repair.

• 3. Exclusions. Some policies limit or exclude claims for losses that have occurred in certain situations. Policies may vary dramatically when it comes to exclusions and limits so take your time reading the terms and conditions.

Because every Idaho home insurance company and their policies may differ, it might be a good idea to know what type of coverage you want and only look at polices that meet your requirements. Remember you may be able to add on extra coverage to a standard policy to protect specific items or situations.

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