PHOENIX — The summer monsoon is here. It's the time too many of us find we've been too cheap.
That's because of the damage that also comes with the season and may or may not be covered by your home owner's insurance.
Check your policy.
While it may cost more, consider full replacement coverage and not just coverage for the price of the home. In some cases, you could buy the home for less than what it would take to replace old fixtures and more.
Trees and limbs falling is a common monsoon issue. Most policies cover structural damage caused by trees unless there is a tree maintenance issue.
But policies will not cover tree or debris removal unless structures were damaged.
Flooding is another big concern. Most homeowner policies will cover water damage from above, like rain and roofing problems.
But they won't cover water from below. That takes a separate flood policy.
And if you're a renter, don't count on your landlord's insurance covering your belongings. Check for a rental insurance policy. They are usually inexpensive for the coverage you need.
So, right now, before any damage, it's a good time to inventory your belongings.
That means taking pictures and gathering receipts.
You could also use a free or low-cost inventory app.
Click here for the best inventory apps according to thebalance.com.