Your home is one of your most valuable assets, and it is important to protect that asset with good insurance But how can you be sure you hav...
Your home is one of your most valuable assets, and it is important to protect that asset with good insurance
But how can you be sure you have a good homeowner's insurance policy? And how do you know what you should avoid? These tips will give you the information you need to make good insurance choices.
Have your financial house in order before you try and enter into a real estate transaction
Check your credit report and credit score from the three major credit bureaus
If there are any inaccuracies, you will want to have those fixed
Unexpected hiccups in your financing can derail a purchase you are about to make.
Lower your homeowner's insurance by searching for insurance companies that offer discounts to customers who have multiple policies
Many insurance companies offer discounts of up to ten percent or more, so be sure to shop around until you find the best deal
This can allow you to save on two or more different policy premiums.
Installing a security system can save you money on homeowner's insurance
This will help to safeguard your home at all times
Your insurance carrier will find you to be less likely to be a risk, and cut your premiums accordingly
Give your insurance company proof that your home is safe and secure.
When doing an insurance claim, solicit price quotes from trusted area contractors before getting your claims adjusted
You should keep all the documents you get from contractors as well as receipts from the work done on your home
You should also keep track of any money spent on places you stay while you are waiting for your home to be fixed.
You might be able to get a discount on your homeowners insurance if you have a security system or alarm
It's not enough to have local alarm -- to qualify for the discount, you usually have to have a monitored service, and the insurance company will ask for proof of this, so make a copy of your monitoring service contract to give them.
Don not, under any circumstances, allow your hazard insurance on your home to lapse
Most mortgage companies have a clause in the agreement you signed that in the event you don't pay it, they will find a new policy for it, sparing no expense, and charge you for the premium
It will usually be at least double what you were paying before
You are better off doing whatever you need to in order to keep your policy current.
Keep your homeowners insurance policy up to date
If it's been a few years since you purchased your policy, you might be under insured
If you've made improvements to your home, your policy might not reflect the increased value
Building costs have gone up too, so review your policy yearly, and if needed, make changes to be adequately covered.
To avoid an increase in your homeowner's insurance rate, you should avoid submitting small claims
Some insurers take even small claims into account when figuring if they want to keep you as a policyholder, and you might find yourself uninsured for the big things because you wanted to be be reimbursed for a relatively small amount.
Consider a policy that offers guaranteed replacement value when shopping for home owners insurance
Guaranteed replacement value means that if your home is destroyed the insurance company will pay the cost to rebuild it, regardless of what that cost is
Considering that the cost of construction often increases over the years, this is especially important if you will be in your home long term
Having such a cushion can offer you true peace of mind.
Find the ratings for the insurance company that you are considering opening a home insurance policy with
You will be able to learn about the billing, claims, customer service and overall satisfaction ratings
Be sure that the ratings that you are getting are coming from independent customer satisfaction surveys.
It's important to take the time to assure your homeowner's insurance policy is a good one
Now that you've read this article, you have advice that will guide you through the insurance process
Take time to review your insurance policy from time to time
Protect one of your most valuable assets!
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