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Tips to save cost on your homeowner’s insurance

7 May 2019 By admin Leave a Comment

Cutting expenses is a great place to start, and you can do so by cutting your homeowner’s insurance premiums.

Want to find out how to do that and save money? Read these tips to find out.

1. Get a Higher Deductible

Your insurance rate depends on your policy. Your policy may already include discounts and it’s largely dependent on how much you’re responsible for in the event of a claim, and how much your insurance company pays.

2. Have Other Policies with the Same Provider

It pays to be a loyal customer of an insurance company. Seriously, insurance companies always offer discounts on their insurance products if you bundle your homeowner’s policy with your auto insurance or other insurance policies.

3. Know What You Really Need

Insurance policies can be pretty complex and difficult to understand. You may have policy coverage for things that you don’t need.

4. Make Smart Upgrades

If you’re struggling to make ends meet and need to lower your monthly payments, you’re probably not thinking about making major repairs or upgrades to your home. It seems a bit counterintuitive to spend money to save money.

See Full Story at azbigmedia.com

Filed Under: Tips Tagged With: homeowners insurance

Tips to Lower Your Homeowners Insurance

20 February 2018 By admin Leave a Comment

This is among the scenario may save existence. You are driving and see someone lying face documented on a quiet road in front of you. (You are legally obliged to at least call the Police) You stop, exit and render assistance. Wind up saving money nice of you but it can also put you at danger.

Make selected compare prices from multiple insurance companies before making a choice of who to sign by way of. Premiums can vary up to 40% between different companies for identical shoes you wear levels of insurance claims support. With insurance the very best solution is mandatory if you need to get the most bang about your buck.

There just three associated with adjusters – company staff adjusters, independent adjusters, and public adjusters. Who will settle your claim? Provides your welfare in your memory?

What on the web already had diabetes.or congestive heart the inability.or cancer? Can you imagine whatever would fund insurance?. If they were capable of getting insurance, at all!

With head-on collisions, main end usually sustains the most damage. This requires fixing the hood, front fender, radiator and/or car headlights. This may be expensive for repair, generally costs when compared with replacing the overall vehicle. insurance claim can also reduce zox pro training system. Driving without repairing the damage is structurally unsafe which enable it to cause auto to overheat or the headlights and signals by no means to work good. The hood can become unlatched and open while travelling or leak the particular frequent rainstorms in Hampton Roads.

See Full Story at bodycontour.com.sg

Filed Under: Tips Tagged With: homeowners insurance

8 Foolproof Ways to Slash the Cost of Homeowners’ Insurance

30 January 2018 By admin Leave a Comment

Homeowners’ insurance is one of those things most of us rarely think about. It’s easy to put a policy in place and then forget about it — until it’s too late.

But for most of us, a home is the most valuable thing we will ever own — and it is typically filled with costly possessions. Insurance coverage must address the value of the building — including upgrades — and the worth of our belongings, especially high-value items like jewelry, antiques and other collectibles.

It’s vital to review what your homeowners’ insurance covers, and how much you’re paying for it. Sure, it sounds mundane compared with planning a barbecue, but it can save you a substantial amount of money.

Check out these tips for getting the best deal:

1. Shop around

The internet makes it easy to shop around for insurance. As with anything else, though, you should not necessarily jump at the lowest rate. Do your homework on an insurance company before buying a policy.

2. Raise your deductible

The larger the loss you are willing to absorb before insurance kicks in, the less your insurance will cost month to month. For example, raising your deductible from $500 to $1,000 could slash your premium by 25 percent., according to the Insurance Information Institute. That’s a lot of savings, without taking on a lot of extra risk.

3. Look into discounts on multiple policies

If you insure anything besides your home — such as a car — look into a multi-line discount. That’s a break that some insurance companies will give you if you buy multiple policies, such as homeowners’ and auto insurance, from the same company.

By Nancy Dunham

See Full Story at www.moneytalksnews.com

Filed Under: Tips Tagged With: homeowners insurance

What Homeowners Insurance Won’t Cover If a Hurricane Hits

26 September 2017 By admin Leave a Comment

Having homeowners insurance is no guarantee against major losses for those who live in Hurricane path.

What was once a straightforward arrangement has become less generous and more complicated over the last quarter century as U.S. insurance companies shifted risks and costs onto their customers.

Most standard homeowner policies cover damages involved when winds blow the roof off, a tree falls on the roof or flying debris breaks windows. Most also provide protection from fire, lightning, hail, vandalism, explosions and theft, according to the Insurance Information Institute, a trade group.

They typically don’t cover flooding, which can become a major issue during hurricanes. Other exclusions include earthquakes, volcanic eruptions, war and damages that result from an owner’s neglect. Sometimes wind damage can be excluded in coastal areas or if flooding and high winds wreck a home at the same time.

Homeowners bracing for a hurricane’s devastation may not even realize they need a separate flood policy for losses from surging ocean waves or an overflowing river.

WHAT IS/ISN’T COVERED

Damages typically covered by homeowners insurance:

  • Fire
  • Winds (unless winds and floods cause damages at same time)
  • Hail
  • Explosions
  • Riots
  • Aircraft
  • Vehicles
  • Smoke
  • Vandalism
  • Theft
  • Falling objects
  • The weight of ice, snow or sleet
  • Volcanic eruption

Damages typically not covered by homeowners insurance:

  • Earthquake
  • Floods
  • Mudslides
  • Landslides
  • Power failure
  • Neglect
  • War
  • Nuclear hazard
  • Government confiscation or seizure
  • Wind damage (if flooding and wind damage happen simultaneously)

Note: This list is based on the standard homeowners policy considered the most popular, as provided by Insurance Services Office Inc. Other types of policies can cover fewer or more protections.

By Leslie Scism

See full story at www.wsj.com

Filed Under: Happenings Tagged With: homeowners insurance

8 Foolproof Ways to Slash the Cost of Homeowners Insurance

27 July 2017 By admin Leave a Comment

Homeowners insurance is one of those things most of us rarely think about. It’s easy to put a policy in place and then forget about it — until it’s too late.

But for most of us, our home is the most valuable thing we will ever own — and it is typically filled with valuable possessions. Insurance coverage must address the value of the building — including upgrades — and the value of our belongings, especially high-value items like jewelry, antiques and other collectibles.

So taking the time to review your homeowners insurance — what it covers and how much you’re paying for it — is time well spent. Sure, it sounds mundane compared with planning a barbecue, but it can save you a substantial amount of money — and go a long way toward making you whole again if that barbecue turns into a blaze.

Check out these top tips for getting the best deal:

1. Shop around

Most of us spend more time shopping around for milk or gas than we do for insurance. But the internet makes it easy to shop around for insurance.

2. Raise your deductible

Sure, raising your deductible can be scary. But the larger the loss you are willing to absorb before the insurance kicks in — in the event of damage — the less your insurance will cost month-to-month. For example, raising your deductible from $250 to $1,000 could slash your premium by 10 to 30 percent. That’s a lot of savings, without taking on a lot of extra risk.

By Kentin Waits

See full story at www.moneytalksnews.com

Filed Under: Tips Tagged With: homeowners insurance

11 Tips Every Home Owner Needs to Know About Insurance

13 July 2017 By admin Leave a Comment

Insurance requires you to think about bad occurrences … medical problems, car accidents, emergency home repairs. But although it may sound pessimistic to dwell on what could happen (carpe diem, anyone?), it’s important to protect yourself from some of life’s biggest surprises.

When it comes to protecting your home, it’s not just about safeguarding against structural damage or theft—it’s just as much about feeling secure in where you live. If disaster strikes, your focus should be on reclaiming your sense of stability. The last thing you should worry about is money.

1. What It Covers

A typical policy will pay for damage to your property and your possessions in the event of certain storms, fire, theft or vandalism. Like renter’s insurance, it also provides liability coverage if someone gets hurt on your property and decides to sue. Homeowner’s insurance also covers shelter costs, so you don’t have to face crazy hotel bills if you’re temporarily displaced from your house.

2. What It Doesn’t Cover

A standard policy has exclusions, including earth movements (landslides, earthquakes, sinkholes), power failure, war, nuclear hazard, government action, faulty zoning, bad repair or workmanship, defective maintenance and flooding. Windstorms are typically covered, including tornadoes, although insurance companies exclude tornadoes or hurricanes in some high-risk areas.

 

By Allison Kade

See full story at www.foxbusiness.com

Filed Under: Tips Tagged With: homeowners insurance, insurance

Find the Right Homeowners Insurance with These Tips

12 January 2017 By admin Leave a Comment

A photo of young couple with cardboard boxes and potted plant. Portrait of man and woman are moving house. They are smiling while standing at entrance of home.

Homeowners insurance policies can be confusing and complicated, especially if you’re not familiar. While these tips may be too late for me to use, I hope they can help you when considering your home insurance options.

Talk with Your Local Insurance Agent

If there’s one thing I recommend when it comes to homeowners insurance, it would be to talk to someone who knows your area like the back of their hand.

“Local agents are familiar with the city and surrounding areas – this means they should have a general knowledge of the market values and other information that may play a role in determining your coverage needs,” says Sarah Haun of Advanced Insurance Designs, Inc., who has been selling and servicing homeowners’ policies for more than 15 years.

Insurance agents can also help in determining how much coverage you need and if it makes sense to bundle your various insurance policies together. Bundling car and home insurance saves my husband and me a couple hundred dollars a year, but that’s not the case for everyone, so be sure to ask.

Haun also suggests working with an independent agent. “Independent agents have the ability to quote several different carriers, to find you the best coverage at the best value,” says Haun. “This may be a good option if you want to get several quotes without making several phone calls or filling out several online quote forms.”

My agent is an independent agent and I highly recommend using one. If ever I have a question about my policy, I call him directly. It also benefits me in the fact that he’s always looking for ways to save us money each year, and if he sees an opportunity, he shares it with us.

Shop for Home Insurance like You Would a New Car

“It pays to shop around,” says David Reiss, Professor of Law at Brooklyn Law School. “You want to shop around to get the best price, but you also want to get a sense of how each company you are considering treats claims when they are made,” he says. “Do they have a reputation for being difficult to work with and a reputation for not paying legitimate claims? You want to take that into account when you are making your decision.”

If you decide to go it alone, Haun suggests to get three estimates and compare.

What’s Covered and What’s Not

You wouldn’t get halfway through a good book and stop reading it, so don’t just give your policy a once over. Experts recommend you read through your policy in full detail to know what is and what is not covered.

By Krystal Beers

See full story at www.quickenloans.com

 

Filed Under: Tips Tagged With: homeowners insurance

How much homeowners insurance do I need?

6 April 2015 By Digital Curator Leave a Comment

How much homeowners insurance do I need-credence-insurance-agency-gotcredit

Image via Flickr user GotCredit

You need enough insurance to cover the following:

  1. The structure of your home.
  2. Your personal possessions.
  3. The cost of additional living expenses if your home is damaged and you have to live elsewhere during repairs.
  4. Your liability to others.

The structure

You need enough insurance to cover the cost of rebuilding your home at current construction costs. Don’t include the cost of the land. And don’t base your rebuilding costs on the price you paid for your home. The cost of rebuilding could be more or less than the price you paid or could sell it for today.

Factors that will determine the cost of rebuilding your home:

  • Local construction costs
  • The square footage of the structure
  • The type of exterior wall construction–frame, masonry (brick or stone) or veneer
  • The style of the house (ranch, colonial)
  • The number of bathrooms and other rooms
  • The type of roof and materials used
  • Other structures on the premises such as garages, sheds
  • Fireplaces, exterior trim and other special features like arched windows
  • Whether the house, or parts of it like the kitchen, was custom built
  • Improvement to your home–adding a second bathroom, enlarging the kitchen or other additions that have added value to your home

Standard homeowners policies provide coverage for disasters such as damage due to fire, lightning, hail, explosions and theft. They do not cover floods, earthquakes or damage caused by lack of routine maintenance.

Flood insurance is available from the National Flood Insurance Program – NFIP and from some private insurers. Earthquake coverage is available from private insurance companies or, in California, also through theCalifornia Earthquake Authority.

Replacement cost policies
Most policies cover replacement cost for damage to the structure. A replacement cost policy pays for the repair or replacement of damaged property with materials of similar kind and quality.

Guaranteed or extended replacement cost coverage
After a major hurricane or a tornado, building materials and construction workers are often in great demand. This can push rebuilding costs above homeowners policy limits, leaving you without enough money to cover the bill.

Building codes
Building codes are updated periodically and may have changed significantly since your home was built. If your home is badly damaged, you may be required to rebuild your home to meet new building codes.

Inflation guard
Consider adding an inflation guard clause to your policy. This automatically adjusts the dwelling limit when you renew your policy to reflect current construction costs in your area.

Older homes
If you own an older home, you may not be able to buy a replacement cost policy. Instead, you may have to buy a modified replacement cost policy.

Your personal possessions

Most homeowners insurance policies provide coverage for your personal possessions for approximately 50 percent to 70 percent of the amount of insurance you have on the structure or “dwelling” of your home. The limits of the policy typically appear on the Declarations Page under Section I, Coverages, A. Dwelling.

Replacement Cost or Actual Cash Value
You can either insure your belongings for their actual cash value, which pays to replace your home or possessions minus a deduction for depreciation up to the limit of your policy.

Insuring expensive items with floaters/endorsements
There may be limits on how much coverage you get for expensive items such as jewelry, silverware and furs. Generally, there is a limit on jewelry for $1,000 to $2,000. You should ask your agent or look it up in your policy.

Additional living expenses after a disaster

This is a very important feature of a standard homeowners insurance policy. This pays the additional costs of temporarily living away from your home if you can’t live in it due to a fire, severe storm or other insured disaster. It covers hotel bills, restaurant meals and other living expenses incurred while your home is being rebuilt.

Liability to others

This part of your policy covers you against lawsuits for bodily injury or property damage that you or family members cause to other people. It also pays for damage caused by pets. It pays for both the cost of defending you in court and for any damages a court rules you must pay.

Umbrella or Excess Liability.
You should buy enough liability insurance to protect your assets. If you own property and or have investments and savings that are worth more than the liability limits in your policy, you may consider purchasing an excess liability or umbrella policy.

See Full Story on iii.org

Filed Under: Uncategorized Tagged With: homeowners insurance, insurance needed, insurance of homeowners

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