Consumer reports: Homeowners insurance

if you think your homeowners insurance has you covered, listen up! insurers are cutting back cove...  More »

if you think your homeowners insurance has you covered, listen up! insurers are cutting back coverage but at the same time raising deductibles and premiums. consumer reports says many companies are even checking your credit record to decide what they'll charge you. nicole brady has more on what you should do to stay covered. hurricane-force winds, fire, and flooding. for disasters like minute thumbnail 06:46 am these, you truly need reliable insurance for your home. but consumer repor says many people don't. that's the finding of a consumer reports national research center survey on insuring your home. "the problems included delayed payments, payouts that were smaller than expected, and some claims that were denied entirely." those who reported the most problems with claims were with farmer's insurance, allstate, and traveler's - all major insurance carriers. and consumer reports finds many insurance companies are cutting back coverage. "some are imposing high deductibles for windstorm damage. you might not be covered any longer for mold or dog bites. so you better check your policy to see what's covered." "we got 'em on the way to the area." key is checking what coverage you'll have if your house is destroyed. "insurers are cutting back here, minute thumbnail 06:47 am too. 'guaranteed replacement cost coverage,' which pays the total bill to rebuild regardless of the price, is very hard to get, and where it's available it's very expensive." consumer reports recommends comparison shopping for insurance every five years.  « Less