If someone is injured while visiting you and sues you, your landlord's insurance won't cover that either.
4. Get the best rate even if you have to lie a little.
It might be tempting to fudge the truth on a life insurance application, especially if you have a serious health condition. "Don't do it," advises Steven Modell, president of Modell Brokerage Group in Wayne, Pa. "Not only is it insurance fraud and a felony in most states, but it could prevent your beneficiaries from receiving the death benefit."
5. Base your home insurance policy on the real estate value of your home.
Experts recommend setting the structural limit of a home insurance policy on what it would cost to rebuild the home if it were destroyed, not the real estate value. Trouble is, the rebuilding cost is a subjective number.
"Many agents use online tools to estimate the rebuild value, but those tools can be misleading," says Moraga. "It's more important to talk to a contractor and find out what the local costs are for your home's particular type of construction, whether it's in a tract home or custom construction."