HOME INSURANCE:
DISASTER PROTECTION YOU CAN'T LIVE WITHOUT
Returning home from summer vacation or a holiday trip, you'd never expect to find your home burglarized, devastated by fire or ravaged by storm. But these are real, common occurrences which throw homeowners off-guard and leave them financially and mentally vulnerable every year.
Protecting Your Home
How can you protect your house and belongings from these types of scenarios, whether you're home or not? Here's the key: make sure you have enough homeowner's insurance. That way, should you ever face a devastating situation such as those mentioned above, your losses will be covered-and you can rebuild both your life and your abode.
Understanding Your Policy
So what exactly does home insurance cover?
- Your home's structure, as well as any separate garage, pool, shed or gazebo
- Any personal possessions on your property and in your home
- Liability against anyone injured on your property, regardless of cause
You have two basic options when it comes to insuring your home. You can either insure it for its "replacement cost" or for its "actual cash value." If you choose the former and subsequently file a claim, your insurer will reimburse you for the entire value of your home-with no deduction for depreciation. But if you choose the latter, you'll receive replacement cost minus depreciation for age and condition.
One important note : if the value of your home increases, so should your home insurance coverage. For example, if you upgrade your home by remodeling or you purchase that expensive jewelry or art collection, you'll need to make your home insurance agent aware of the changes so these items can be included in your policy.
By reviewing your homeowner's insurance coverage at least once a year, you can keep up-to-date with needed changes-and hopefully avoid problems altogether!
Saving Money
If you know what to look for and how to go about it, you can save a substantial sum on your homeowner's insurance, while getting vital coverage to protect your assets.
Here are some tried and true tips for maximum home insurance savings:
- Do your homework. Shop around, getting at least two quotes on your home insurance before making your final selection.
- Buy your homeowner's insurance from the same company you insure your car with. This gets you a multiple-policy discount.
- Choose your policy carefully. The more you insure against, the more you'll pay.
- Select a higher deductible. This puts your insurance company at less risk.
- Install deadbolt locks, smoke detectors, security systems and fire extinguishers to get security discounts.
- Ask your insurer for all other discounts you may qualify for.
Taking Action
We hope we've answered some of your questions about home insurance. By getting informed, you can secure your home with affordable disaster protection you simply can't live without.
Now take action .don't risk your home and belongings by going without homeowner's insurance-or finding yourself underinsured when you need protection most. Instead, guard your investment. Get insured today!