Tag Archives: Smart

Smart Moves for Cheaper Home Insurance

Article by Barclay Win

Home is the best place on this earth to live and Home insurance is the best approach for saving your home from the uncertain catastrophes. Generally with home insurance policies, we get three kinds of homeowner’s protection. Homeowners insurance provides protection against property damage, loss of personal property, and liability claims by others. But before making any investment in home insurance policies you can consider some important points to save your hard earned money. By applying these smart techniques you can save money.When shopping for your home insurance policy, deal with a home insurance company which understands your requirements and protects you from catastrophic losses. You can utilize smart techniques to make huge differences in the same home insurance policy. By utilizing what is popularly known as “Multi-Policy Credit” you can save money on home insurance. Perhaps you have other insurance policies to shop for. You can ask the home insurance company if they can provide insurance for two things at once. For instance, there are some home insurance companies which also provide car insurance at the same time and by doing this you can save yourself a huge amount as well as unnecessary hassles and additional money. By dealing with the same company you can take advantage of getting a better deal on both types of insurance. According to industry experts “Deductible” is the amount on the homeowner

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.

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