No matter how strongly your house is constructed, a natural disaster can easily dismantle your home in a matter of seconds. When the unthinkable happens, you need to make sure that you’re fully protected with a great home insurance plan. In this article we’ll discuss some of the best insurance tips available.
If you are building an addition to your home or considering a major renovation, check what effect this will have on your homeowner’s insurance rates. Wood-framed structures are considered to be a fire risk, for example, and will raise your insurance rates. Using cement, steel, or other fireproof materials will mean your addition costs less to insure.
Having a home security system installed, especially one that has a monthly monitoring system against burglary, can seriously reduce a homeowners insurance premiums. The cost of your system can be partially recouped in the monthly or yearly savings you will make, and of course, you will have peace of mind. It can also mean that you will feel safer when you are at home.
A lot of things can destroy your house. Fire is a major factor. You must have an insurance policy that covers fire, whether it’s from arson or even because of weather. While homeowner’s insurance policies usually have fire insurance, you should verify the amounts and types of fire insurance coverage you have in your homeowner’s policy.
Pay off your mortgage! While you are, of course, planning to do this anyway, the sooner you complete it the better. Insurance companies firmly believe that individuals who outright own their home are much more likely to take good care of it. Because of this, they will drop the rates for anyone who pays it off.
Try to pay off your mortgage prior to getting home insurance. You can see a drastic reduction in premium rates by doing this. This is because insurance companies assume that if the home is paid for you will care for your home; thus, reducing claims.
Before you purchase a policy with a homeowners insurance company, be sure to look at reviews of the company. The truth is, some companies are simply better and more fair than others, and you do not want to be stuck with a policy from a less than ideal homeowners insurance company.
To be well protected and to make sure you receive monies coming to you from a homeowner’s insurance claim, be sure everything is well documented. This can be from taking photographs and videos of everything in and around your home, and then storing copies of these in a safe place or even at a relative’s home. Having this inventory compiled as such will help shorten the claims process.
There are endless elements out there out of your control, all of which could cause serious damage to your home. Make sure that you’re using the tips you have just read to protect yourself and your family with an ironclad homeowners’ insurance policy. As the homeowner, the responsibility rests with you.