Archive for November 23rd, 2009

Home Owner Insurance Need To Know Information

Monday, November 23rd, 2009

Home Owner Insurance 101

There are a few simple items you need to pay attention to when getting Homeowners Insurance Quotes.  Let take a look.

1. Your Deductible: What amount are you willing to pay if you file a claim before repairs or the claim is satisfied.  Unlike auto insurance most homeowner insurance claims could be avoided with proper maintenance and the chances of having a home owner insurance claim is much lower than an auto insurance claim. Therefore, Homeowner insurance deductibles should be around $1000 this will give you the best price break on your insurance without putting you out of pocket to bad if something should happen.

2. Coverage Amount:  Make sure to insure your home to the amount it will take to rebuild or at least 80% of this amount.  This way you will qualify for replacement cost value on all your property this eliminates the cost of depression for you.

3. Understand Limits:   To get the most out of your homeowners insurance policy you need to understand your policy limits.  For example know how much coverage you have for theft or computers or electronics.  There are many specific coverage’s inside your homeowners insurance policy and even though your overall policy is covered up to a predetermined amount specific coverage’s may lower the amount of coverage for specific events or items during a claim.

By understanding these three basic concepts of a homeowners insurance policy you will be able to purchase a policy that best fits your needs.  Remember to always have a list of questions on hand when talking to your insurance agent to make sure you don’t miss anything and see the difference between coverage and cost among companies.

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