Largest, single investment most consumers make is in their own homes. Homeowner's insurance policy with a user's home, property, and liability can protect. Homeowner's insurance policy is a package policy or a policy of insurance coverage that combines multiple types. , Personal responsibility, medical payments and additional living expenses, housing and personal property: There are four types of coverages that are included in the homeowner policy.
Property damage coverage
Property damage coverage helps in your house and personal property to pay for damage.
Personal property coverage, personal household furniture, clothing, utensils and other personal property, will pay for. The amount of insurance coverage usually limits your residence policy is 50%. Types of damage covered by the policy is limited. The present cash value coverage pays only for goods damaged, until you "alternative cost" coverage purchased. Your homeowner's policy provides coverage off premises.
Personal liability coverage
Insurance is a deduction before you meet with your insurance company does not have to start paying damages. Primary responsibility for coverage, usually $ 100,000 each incident is. Much more is available for an additional cost may apply.
Medical payments coverage
Medical payment coverage pays if someone outside your family is injured at your home, regardless of fault.Coverage does not apply to you and your family.Medical payments coverage limits are generally $ 1,000 for each person.
Additional living expenses
For the policy limit will be 20 per cent.
Home Business
If you have a home full or part-time business, and realize that you may not be uninsured. Many home business owners believe that their homeowner's home insurance policy covers all business needs. You can not assume that your homeowner insurance policy will cover your home business. Your homeowner's policy provides coverage, but may perhaps $ 2,500 for business equipment in the home, maximum, and $ 250 away from the campus.
Price you pay for your homeowner's insurance vary by hundreds of dollars, depending on the insurance company you can buy your policy. Here's some things to consider when buying homeowner's insurance.
1. Shop around.
It will take some time, but a good amount of money you will save. Ask your friends, check the yellow pages, and contact your state insurance commission. National Association of Insurance Commissioners to help you in your state that a complaint filed by consumers, including insurance companies, is about to choose. Most major insurance companies in America by the information available on rates charged, by the company and several states provide the frequency of consumer complaints. In addition, consumer guides, insurance agents, companies, and check online insurance quote services. This limits the cost and tell you the lowest prices of the companies will be. But do not consider price alone.Ask them what they will do to reduce your costs. Once you've narrowed the field to three insurers, the cost to get quotes.
2. The higher your deduction
Higher your deduction, you can save money on your premium. Nowadays, most insurance companies recommend at least $ 500 is deducted. To $ 1,000 if you can rise to the deduction, you can save more than 25 per cent. Remember, if you live in an area hit by disaster, your insurance policy for certain types of damage may be a separate cut.live in, your earthquake policy has a deduction.
3. Did you mislead your house with rebuilding costs not paid for
Theft of land under your house, hurricane, fire and other risks inherent in your homeowner policy is not in danger. Then decide how much to buy homeowner's insurance is not included in the price. If you do, than you should pay a higher premium will be.
4. Home and auto insurance policies that you buy
Some homeowner's auto companies, and liability coverage, sales of 5% to 15% off your premium if you buy two or more policies. But make sure the combined price is lower than buying the different coverages from different companies.
5. Make your home more disaster resistant
Your insurance agent or company representative what steps to take you more than your house can resist windstorms and other natural disasters to find out. You said the storm shutters, reinforcing your roof, and by strong buying Roofing materials may be able to save on your premiums. Old homes to make them better able to withstand earthquakes can retrofitted. Moreover, the warmth of your plumbing, and electrical system to reduce the risk of fire and water damage noted.
6. Improve security in your home
At least 5 per cent discount for smoke detectors, dead bolt locks and alarm the thief usually can get.. These systems are not cheap, and not every system qualifies for a discount. Before you buy a system, find out what kind your insurer recommends, how much will it cost device, and how much you'd save on premiums.
7. Out to other exceptions
Several types of companies offer discounts, but also the states that not all the same amount of discount or rebate offer.Retired people have more time to maintain their homes. If you are at least 55 years old and retired, some companies you may qualify for discounts up to 10%.
8. Maintain a good credit record
Establishing a solid credit history can reduce your insurance costs. More and more insurers are using credit information 'homeowners insurance policies cost.Protect your credit standing, pay your bills on time, do not get more credit than you need, and keep your credit balances as low as possible. Check your credit record on a regular basis, and any errors corrected promptly so that your record is improving.
9. Stay with the same insurance company
If you are a company with many years has your coverage, you long for a policyholder can get a special discount.But from time to time with other policies that ensure that the price comparisons.
10. Limits in your policy and its stock price, review at least once a year
Your policy for any major purchases or additions to your house to cover. But you do not have coverage, you do not want to spend money.for the additional insurance is not as described, and pocket the difference - expensive jewelry, high-end computers and valuable art works such as.
11. If you are a government plan, look for private insurance
Do you feel that there are steps you can take the private market to buy insurance at lower cost may be allowed.
12. When you are buying a house, homeowner's insurance consider the cost
It will be cheaper if your home electric heating, and plumbing systems may be less than 10 years of age. If you live in the East, consider a brick home because it's more about what is resistant.Choose wisely by 5% to 15% can cut your premiums.
Clue (comprehensive loss underwriting exchange) you are considering buying a house check report.Remember that flood insurance and earthquake damage are not covered by a standard homeowner policy. If you buy a house in a flood prone area, you have a flood insurance policy that costs an average $ 400 a year will have to pay for. Federal Emergency Management (FEMA) Agency www.fema.gov / nfip on your web site provides useful information on flood insurance. A separate earthquake policy is available from most insurance companies. Cost of coverage will depend on the possibility of earthquakes in the region.
For example, if you run a business out of your house, make sure to discuss coverage for that business. Most 'homeowners policies cover household goods business, but only up to $ 2,500, and they offer no business liability coverage. Although you want your homeowner insurance costs, you also sure you have all the coverage you need to make.
0 comments:
Post a Comment