Homeowners Insurance Tips and Advice to Remember

One...always look for a company which will provide the adequate amount of coverage for your home at a reasonable price. In other words, you do not want to go with the cheapest premium if the coverage is not what you desire.

Two...make certain to talk with an agent about all discounts that can be given. Some companies give discounts for security systems, being within 200 feet of a fire hydrant, within five miles of a fire department, or even just being inside the city limits. A few companies will give senior discounts and discounts if you have other policies (i.e. life, auto, health, et cetera) with them. There are a few companies that will even give discounts if you do not have any kind of pets or swimming pools on the property.

Three...this leads to a couple of things you need to be aware of. A lot of insurance companies will not write a policy (or will at least exclude liability on) if you have an unprotected swimming pool. This means that the pool must have a locking gate or some other way to keep animals and children out of the pool. There are some companies which will not write a policy (or, again exclude liability on) if there is a dangerous animal (dog et cetera).

Four...most companies require that handrails must be present if there are any steps leading to a door. If there are no steps, the company can actually refuse to write a policy.

Five...if a home is run down or in bad shape a company will refuse to write a policy or put only a fire policy on it. Fire policies only cover the basics (no liability, most of the time no type of flooding caused by pipes et cetera).

Six...always be aware that there is no local insurance company which can write flood insurance (flooding caused by natural occurrences...rain, snow, ice et cetera). This type of policy must be taken out through a government agency, and your home must be in a flood plain.

Seven...make sure you put enough coverage on your home to protect the structure in the event of a disaster. If there are any valuables you have that may not have enough coverage on a standard policy, you may have to specifically insure these. In other words, make a list of them or a video and take them to your agent and see if they can specifically insure them. Make certain you have to price of the items also listed. These items can be things such as guns, jewelry, silver, gold, coins, collectibles, et cetera.

Eight...if you have a large amount of valuables and property which need extra protection, ask your agent about an umbrella policy or other types of policies which will take up where a regular homeowners policy leaves off.

Nine...last but not least always investigate a company before buying from them. Check with your state's Department of Insurance for the rating of the company, to find out if there are any complaints against the company, the agents, or the claims department, and to find out how long they have been in business et cetera.

In conclusion, homeowners insurance does not have to be mind boggling if you will simply do your homework and remember these few things.

Source:

Working in insurance for seven years