What to Look For When Shopping For Home Insurance
If you are like most people, home insurance is probably not on the top of your list of fun things to shop for.
In most cases, a person buys a policy and continues paying the premium each year without much interaction with their agent.
It is critical that you review your policy yearly with your agent because of all of the changes that can occur during the year.
In the last year did you add new plumbing, a new roof, a new electrical box and wiring, or a new addition? If so, notify your agent and ask if you qualify for a discount with your insurance company.
If you haven't reviewed your current policy with a licensed professional in the last ten years, contact someone immediately so that there aren't any surprises at claim time.
I see gaps in coverage on a daily basis when reviewing a policies and recommend protecting your investment with a yearly review.
When you look for coverage, the dwelling and other structure coverage will typically includes the repair and rebuilding costs of your home, garage or shed if it is destroyed by perils listed on your policy.
Most policies cover fire, lightning, wind & hail, freezing of plumbing, smoke, theft, explosion, and falling objects.
Contents coverage helps protect your personal belongings in case of fire, theft, or other covered perils.
It is important to remember that during the course of a year, those purchases you make can really add up.
Keep an inventory of your property or video tape your property and keep it in a safe place.
You can increase limits on your possessions with most home policies.
Take a look at your policy to see the limitations and if you need more coverage, speak to your agent.
Liability protection helps protect you against the legal responsibility for any injury or property damage that you or your family may cause to other people on or away from your property.
Most agents would recommend at least $300,000 in coverage.
Guest medical coverage will help pay for medical expenses caused by accidents in your home that are not covered by liability protection.
Additional living expenses will help cover the increases in expenses need to maintain your normal standard of living if you home is made uninhabitable by a covered loss.
This may include payments for a hotel, food and other expenses.
It is important that you understand what your policy covers so take time to read the copy of your policy.
If you are not sure if something is covered, ask your agent or insurance company.
If you are looking to save money on your homeowners insurance, raising your deductible can help.
You can also save by insuring both your home and car with the same company.
In most cases, a person buys a policy and continues paying the premium each year without much interaction with their agent.
It is critical that you review your policy yearly with your agent because of all of the changes that can occur during the year.
In the last year did you add new plumbing, a new roof, a new electrical box and wiring, or a new addition? If so, notify your agent and ask if you qualify for a discount with your insurance company.
If you haven't reviewed your current policy with a licensed professional in the last ten years, contact someone immediately so that there aren't any surprises at claim time.
I see gaps in coverage on a daily basis when reviewing a policies and recommend protecting your investment with a yearly review.
When you look for coverage, the dwelling and other structure coverage will typically includes the repair and rebuilding costs of your home, garage or shed if it is destroyed by perils listed on your policy.
Most policies cover fire, lightning, wind & hail, freezing of plumbing, smoke, theft, explosion, and falling objects.
Contents coverage helps protect your personal belongings in case of fire, theft, or other covered perils.
It is important to remember that during the course of a year, those purchases you make can really add up.
Keep an inventory of your property or video tape your property and keep it in a safe place.
You can increase limits on your possessions with most home policies.
Take a look at your policy to see the limitations and if you need more coverage, speak to your agent.
Liability protection helps protect you against the legal responsibility for any injury or property damage that you or your family may cause to other people on or away from your property.
Most agents would recommend at least $300,000 in coverage.
Guest medical coverage will help pay for medical expenses caused by accidents in your home that are not covered by liability protection.
Additional living expenses will help cover the increases in expenses need to maintain your normal standard of living if you home is made uninhabitable by a covered loss.
This may include payments for a hotel, food and other expenses.
It is important that you understand what your policy covers so take time to read the copy of your policy.
If you are not sure if something is covered, ask your agent or insurance company.
If you are looking to save money on your homeowners insurance, raising your deductible can help.
You can also save by insuring both your home and car with the same company.
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