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Smart Ways to Purchase Home Insurance

Article by Robert

Protecting your home and possessions with a home insurance policy is critical, but what good is an insurance policy if it doesn’t fit your needs?

Educating yourself about the details of your home insurance policy can help you maximize coverage and cut costs.

Assess Your Coverage Level

If a natural disaster destroyed or extensively damaged your home, would you have enough insurance to cover the losses? The U.S. Government Accountability Office reports that most residential homes are underinsured by an average of 22%. If you’ve underestimated your home’s value-or if you’ve recently renovated or added an additional room or structure-you may be underinsured. If you fail to assess your home insurance coverage before disaster strikes, you may be left out in the cold.

Identify Coverage Gaps

Are you covered for “cash value” (the item’s depreciated value) or “replacement cost” (cost of the item brand-new)? Do you have luxury items such as jewelry that are valuable enough to require riders? Identifying the gaps in your home insurance policy can help prevent unfortunate surprises when filing a claim.

Take a Home Inventory

If you had to file a home insurance claim, would you be able to prove the value of your lost, stolen or destroyed items? According to the Insurance Resource Council, less than half of homeowners keep a proper home inventory. Keeping a list of your home’s valuable items can help you recall the value of your items when filing a claim. Collecting original sales receipts, serial numbers of big ticket purchases and photographs/video of the items is recommended when taking a home inventory.

Understand Flood Insurance

Despite the fact that 11 million homes lay within flood zones, over 65% of homeowners do not have flood insurance. Flood damage is not covered by a standard home insurance policy, and must be purchased separately. If a hurricane or other natural disaster causes a flood, the resulting damage to your home will not be covered by a standard home insurance policy.

Cut Home Insurance Costs

Why pay a fortune for home insurance when you could get the same coverage for less? Increasing your deductible from 0 to ,000 could cut your premium by up to 30%. Installing a home security system may save as much as 20% on your home insurance costs.

Shop Around

Now that you’ve done your homework, shouldn’t you be rewarded with a better home insurance rate? Compare home insurance quotes at InsWeb.com to see if you can find an affordable home insurance policy that fits your needs.

About the Author

An insurance journalist and graduate student in California.

Check out our new TV ad for home insurance. It shows how nothing is a big drama once you have the right help and advice. We hope you enjoy it!

Why Purchase New York Auto Insurance Online

It seems that accident is inevitable. It can happen anywhere and anytime and everybody can be a victim. It is not easy to be involved in a road traffic accidents because you will not only get yourself injured, your car will also be destroy and the worst part is, you have to pay for the damages you have cause. You will be lucky if the accident to which you are at fault does not cause any death on the people involved. If ever someone died because of your negligence, you might be sued by a criminal case.

Auto insurance is a requirement in every state because this serves as the protection of the driver. Since you already know that it is costly to be involved in an accident, you surely do not want to see all your money wasted in paying for the damages you have cause in driving your car without your New York Auto insurance.

The price of auto insurance is increasing through times but buying your own insurance policy will give you the financial protection you need when you are trap in such unwanted situation. If you are to insure your car with New York auto insurance, it is important for you to understand the important figures written in your policy. Liability coverage is stated in the law of New York and therefore you have to include it in your insurance policy.

The liability coverage will be paying , 000 for each of the injured person in the accident and for the repair of the damaged property. If you have this coverage, you should not worry about paying for the damages you have caused to the people because your insurance company will be the one to do it for you.

You need to understand that the state of New York uses “No Fault System” which means that you can only file for a claim for a certain limits. The good thing about this is that you can do it even if you are not found to be liable in the accident. This system varies from one state to another. In case you have met an accident where the other driver is uninsured or underinsured, you cannot force them to pay for your own damages. Your New York auto insurance can help you with the payment if you have Uninsured/Underinsured Motorist Coverage in your policy.

The auto insurance in New York is quite expensive when compared to the other states. In fact the average New York auto insurance cost around , 313 while the national cost 4. Many of the Americans think that this rate is already fixed and they have no choice but to agree with it but actually this not true since you have the means to lower your insurance rates.

Searching online is the best way to find affordable auto insurance which will give you your needed financial protection. In this method, you have more chances to save lots of dollars while getting the best deal on auto insurance.

Sean Park is living in New York City, NY. Been an author for auto insurance for past two years. For more readings please visit : http://www.newyorkautoinsurance911.com

Article from articlesbase.com

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