Auto accidents are the leading cause of death among Americans aged 15 – 19, according to the Centers for Disease Control. If you have a teen driver in your household, you know that for this reason insurers charge higher rates for teens than for any other group. In fact, according to the Insurance Information Institute, a teen driver can cause your automobile insurance rates to jump significantly—from 50% to even 100%.

Most of us find no pleasure in thinking about insurance, let alone reading through a policy contract. But as a homeowner, you need to take some time to familiarize yourself with your homeowner’s insurance policy so you know what is covered—and what is not. Waiting until something bad happens to find out you have insufficient coverage is too late.