Follow These Homeowner’s Insurance Tips by mrcharls | on April 11, 2013 Homeowner’s insurance is a must and will cover the replacement of your destroyed home, so read the advice in this article to learn how to save money without sacrificing quality in your homeowner’s insurance.
Homeowner’s Insurance Tips Homeowners’ insurance is a necessity and most mortgage companies won’t make a loan or finance a residential real estate sale unless the buyer provides proof of coverage for the full or fair value of the property (most of the time this is the purchase price). You can save money by having a higher deductible on your policy. Typically, insurance companies will start giving discounts at a $500 deductible and increase the discount as your deductible increases. Most companies offer deductibles up to $10,000. Be careful, however, because many mortgage companies will not allow you to exceed a $1,000 deductible, so check with your lender before opting for a higher deductible. Your neighborhood might have undergone changes that result in lower homeowner’s insurance premiums so be sure to check out any recent developments near your residence, and report any changes immediately. When considering an addition for your house, make sure you take insurance into consideration. Durable construction materials might be taken into account when insurance premium rate. These materials are considered stronger and more durable than wood, which means your insurance carrier may charge less to insure the new addition. The area in which you live will determine how much you pay for your homeowner’s insurance. Your premium is much higher if you live in an area that is prone to natural disasters and bad weather, so be sure to take into account that your address can severely affect the cost of your homeowner’s insurance. Having a reliable alarm system can also reduce your premiums, so remember to send your company proof of your new security system, and if you don’t have one, I strongly recommend you get one immediately, this not only makes you eligible for discounts it protects your family as well. Make sure you always insulate your home’s water pipes because bad water pipes are a common homeowner’s insurance claim and any type of insurance claim will increase your insurance premiums.
Make Sure You Have Homeowner’s Insurance Make sure you are aware of the personal property portion of your insurance policy. Some will reimburse only damages sustained at the house, but others pay for damage that occurs elsewhere, so be sure to read over your policy and know what is covered and what isn’t. Another thing you should consider doing is taking pictures of your house and it’s contents, preferably with a digital camera or video recorder and keep in a safe place not in your house, such as a safe deposit box. Note: Make sure there are enough funds in your savings to pay for any repairs you will have to make yourself. With a smart approach to shopping for insurance, you can find an economical policy that doesn’t force you to sacrifice on coverage. Use what you’ve learned here and you should be ready to get the best policy available. If you are looking to buy, sell or invest in real estate join my Free VIP LIST to receive free mentoring today. I blog daily about things such as homeowner’s insurance because it matters to me and you can too~ Click Here and learn how you can get 100% commissions daily blogging about your passions and interest. Come join the revolution and fight the forces of evil with thousands of international entrepreneurs that’s changing lives daily! P.S. Homeowner’s insurance should be taken very serious so check your policy today to make sure it is current.