Friday, January 19, 2018

Understanding Homeowners Insurance



Purchasing homeowners insurance is a necessary part of buying a new home.  While it may seem tedious, this insurance protects your largest financial investment – your new home.
Insurance costs vary on the location of the home, age of the home, type of coverage needed and deductibles.
Go online to read about potential insurers and their customer service ratings. Typically insurance is purchased and then forgotten about so it’s helpful to see what customers with claims think about how their issues were handled.
It may help you save money to have your auto and homeowners insurance covered by the same company.
Your possessions such as clothing, electronics, and furniture are covered but if you have a special item that may exceed the included coverage make sure to mention that as a concern. It may require an addition to the standard policy.
A higher deductible will result in lower premiums. Go as high as you can since typically claims are filed only every 8-10 years.  Make sure you have the savings to cover that deductible should the worst happen.
Be sure to ask what the policy covers and what it doesn’t cover. Get all estimates in writing so you can price shop other companies while comparing apples to apples in coverage.

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