If you own a home, you need to have homeowners insurance. Homeowners insurance protects you as the buyer of the property and protects the bank should the unexpected happen.
When you’re seeking homeowners insurance, you need to determine how much you’re going to need. You’ll need enough to cover the mortgage and the cost of rebuilding, along with enough to cover any belongings that you may have that are damaged or stolen.
The best way to get this insurance is to get several quotes from a few different insurance companies. By doing this, you can rest assured that you’re getting the best possible deal on your insurance.
There are many ways to save on your homeowners insurance. Start by taking a higher than the average deductible. By raising your deductible from $500 to $1000 you’re sure to save several hundred dollars. Set aside this $1000 in a separate account in case you ever need to use it.
Another way to save huge on your homeowners insurance is to bundle your homeowners insurance with your auto insurance. Often you can find huge savings by doing this one step.
Avoid getting more insurance than you actually need. If you are over-insuring you’re going to be wasting your money and you don’t want to do that.
Ask your insurance agent or broker to get you several quotes on your homeowners insurance. Different companies offer different premiums for the same policies.
Always make sure that you’re comparing apples to apples. This means that each policy will be identical in coverage and the only difference will be the company and premium.
Avoid second guessing yourself when it comes to homeowners insurance you want to make sure you have enough to cover rebuilding your home if necessary and a place to stay while your home is being rebuilt.
All too often people find that they are under-insured, don’t be that person. You’ll spend far too long trying to get back on your feet if you do something like that.
Homeowners insurance isn’t just for your home, it’s to protect you as well. You have invested heavily in owning a home and that is a lot of money to be out if anything should happen.
Whether it’s minor damage to your home or property or a catastrophic event you’re going to want to be protected and protect your investment.
An added bonus to homeowners insurance is that you can also protect your jewelry and furnishings as well as your clothes. Regardless if they’re stolen or damaged or not stored in your home, you’re protected.
If you can’t live in the house while it’s being restored you’re sure to appreciate a policy that pays for food and lodging while you’re home is being repaired or restored.
You’ll also want things to be replaced or repaired at replacement cost vs what you paid for them. It can be very pricey to have bought your home 20 years ago and not have the replacement value costs on your policy.