Aug 3

homeowners insurance - expect the unexpectedHow likely is it that your home will be struck by a meteor? Not likely at all – but it is possible. The good news is that your home owners policy should cover it. Specifically, you would be covered under the “falling objects” clause. In the event that this did happen to you, the first thing you’d do would be the first thing you’d always do if you have a home owners insurance coverage: call your insurer and let them know what’s happened. They can give you specific information on what they require for their review of your situation.

Next you want to make a list of all items that were damaged or destroyed by the meteor. This list needs to be as comprehensive as possible because you will only covered for what you can name. This is why it’s a good idea to have a home inventory, which lists the contents of your home with serial numbers, values, etc. Next you’ll take photos of the damage that’s done to your home, and then you’ll use plastic or boards to cover any damage that allows the elements in. When it’s time to have them repaired, get estimates from at least two different companies to ensure you’re getting a fair deal.

Jul 29

Homeowners insurance is a necessary expense, yet that doesn’t mean you have to pay more than is necessary. Too frequently homeowners will assume that all rates are similar and will only request a quote or two before making their decision. However, there are several tips you can follow in order to get the best rate for your needs. Let’s review them now.

Start By Understanding What You Need

One of the biggest and most common mistakes is to get rates and then decide what level of coverage is needed. This is the opposite of the most reasonable way in which to get coverage. The level of coverage you get should be based on what you need – not just the cost. Decide what coverage is necessary for your lender and your own needs, and then find the best price for that level of coverage.

You May Be Eligible for Discounts

There are several possible discounts that you may be eligible for but may need to ask for. One example is a discount for having a home security system. A home security system can make it less likely that your home would be the victim of a robber, and so homeowners insurance companies are often willing to give discounts to those with systems. Another possible discount is having several policies with the same company. For example, you may find a company that offers life insurance, car insurance, or other types of coverage in addition to homeowners insurance. Having several policies with one company can lead to deep discounts.

Compare Policies – Not Costs

The ideal situation is one in which you get numerous quotes so you can be sure you’re getting the best overall deal. There are sites out there that allow you to plug in a few numbers and then get quotes from several companies. This can save time as you’ll only have one form to fill out. Once you get quotes back, make sure you’re considering them carefully. If the only thing you’re looking at is the cost, then you may not end up with the best value. For example, one policy could be a few dollars more than the others but offer significantly more coverage. In this case, it may be worth it to spend a little more.

Get All the Info You Need

The key to really getting the right level of coverage and the best price is to understand what homeowners insurance does, what your options are, and what terms mean. A site like can be very useful in helping you get answers to your questions. It pays to do a little research because the more you know about the insurance products you’re shopping for, the more likely you will be to find the best deal.

These are simple tips but if you follow them then you’ll likely find the right deal for you. Remember that you should check up on your policy yearly to see if there are significantly different deals out there now. If you find a deal that’s better than the one you have with your current provider, then you can ask them if they can match or beat it.

Jul 26

You want your home to last as long as possible, and the good news is that there are some simple steps you can take to make sure it does. For example, a leaky toilet may initially seem like a minor inconvenience, but that wasted water can run up your water bill, and actually damage your bathroom floor. Calling in a plumber to take care of the leak will cost a few bucks now, but it could potentially save you from having to make big repairs in the future so it’s well worth it. In fact, virtually any simple repair you can make now could lead to big savings down the road.

Another way to ensure you’ll have your home for as long as possible is to get the right homeowners insurance coverage. Your goal should be to never have to use it, but if you do then you want to make sure the coverage is adequate. Call around and get several homeowners insurance quotes so you can be sure you’re getting both the best deal and the best coverage. Read your policy carefully to be sure that all your valuables are covered, and that buildings not attached to your home, like sheds or garages, are also covered.

Jul 24

Many people don’t understand the importance of having a home inventory. The reality is that anyone who has home owners insurance or renters insurance should have one. In the event that something happens to your home, whether you’re robbed or there is damage extensive enough that many items are no longer in your home, would you be able to go room by room and name every missing item? Most people can’t, and not having an inventory to check items off from can cause them to not claim many items they were eligible to claim. Sure, it can take some time, but in the end you’ll be glad you did it.

You may choose to download a template from the internet, which will allow you to just fill in a few blanks and be on your way. If you’d prefer to do it by hand, you’ll need to note several things about each item: quantity, item name, serial number (if applicable), year purchased (if known), and cost (estimated if necessary). You can take photos of expensive items to show their condition and attaching a receipt to your inventory will make it even easier if you have a claim against your home owners insurance Houston. As you add items over time, simply add to them to the inventory too.

Jul 19

Many people are surprised to learn that their home owners insurance doesn’t cover the things they thought it did. For example, some policies won’t cover large appliances if there’s a power outage. If that’s the case with yours, and you have hundreds of dollars of meat in your freezer when a disaster strikes, then it may not be covered. The good news is that there is a type of coverage specifically for this issue. In most cases it costs just $20 per year. Those who typically stock up and have a large quantity of food at any given time can benefit from this additional coverage.

Damage by rodents is another example of an issue that home owners insurance Chicago may not cover. Keep in mind that even a squirrel is considered a rodent, and they can certainly do plenty of damage. Once again, you may be able to get additional coverage so you won’t be out of luck if damage does occur. If your home is not up to code then your homeowners insurance may cover the cost of getting it up to code – but only 10% of it. These are just a few examples of coverage that you may not be aware you don’t have. Look closely at your policy to see what covered and what isn’t.