Category Archives: Home Insurance
North Carolina Home Owner’s Insurance – Helping You Do Your Homework
North Carolina Home Owner’s Insurance – Helping You Do Your Homework
Home owner’s insurance companies usually take into consideration the location of the home before they offer a potential policyholder a quote. North Carolina home owner’s insurance companies are no different.
Since North Carolina is a high-risk state during the hurricane season each year, having a home owner’s insurance policy is crucial in protecting your home, its contents, and your valuables. Some areas in North Carolina are at a lesser risk for experiencing hurricane-related damage than other areas; therefore, these areas usually do not pay as high a premium for home owner’s insurance as do other areas in the state. For example, the average home owner’s insurance premium for Charlotte residents is 0-0. Charlotte is a good bit inland and not as prone to hard hits from hurricanes. On the other hand, Wilmington, which is right by the water, costs its residents an average of 0 in home owner’s insurance premiums. At the same time, Asheville, Greensboro, and Raleigh residents will pay lower home owner’s insurance premiums than Fayetteville residents.
If you live in a North Carolina city that is close to the water, your home owner’s insurance premiums will be higher, but you can take steps to keep them as low as possible – given your location – as well as steps to better protect and safeguard your home and belongings against such weather damage. A few ideas include installing stronger windows, durable roofs, and ridding your yard of nearby trees that could be blown into your house.
Not only will your North Carolina home owner’s insurance quote vary from location to location, but it will also vary from company to company. Whether you have narrowed your choice down to one insurance company or are still considering two or three insurance companies, talk with each one about the steps you can take to make your home as safe as possible, as well as get the best coverage at the most affordable price.
Confused About Home Owner’s Insurance? These Tips Can Help 2
Confused About Home Owner’s Insurance? These Tips Can Help
There are many different ways that one wrong move, when purchasing homeowner’s insurance, can end up costing you a whole lot of money. If you purchase the wrong type of insurance, it might end up costing you your home. Make sure that you read these important tips before deciding on a package.
Invest in a home insurance policy that has “guaranteed replacement value,” so you are not left living in a mobile home instead of the home that you have spent years paying for. This type of insurance will cover the cost of complete replacement of a home that is much like the one that was destroyed.
Don’t purchase home insurance if you don’t need it. If you own your house outright and you have enough money in your savings account to completely rebuild your home if it was to get destroyed, then buying home insurance could be an unnecessary expense. You need to calculate the chances of your home being damaged and compare them to the emotions you would feel if you had to empty your savings account to pay for the damage.
If you have recently renovated your home, make sure to let your home owner’s insurance company know. That way, should disaster ruin your newly renovated home, you will be reimbursed an amount that reflects the way your home looked after you renovated. Try to call the insurance company as soon as you make these renovations.
Paying off your mortgage may not be easy, but doing so can make your homeowner’s insurance premiums drop significantly. Insurance companies assume that people who own their houses outright are more likely to take good care of them, and so they will file fewer claims that the insurance company will have to pay.
When in the market for a new home, there are many factors to look at, to ensure that your home owner’s insurance will be low. For example, a house close to a fire hydrant will have lower premiums. If your town has a professional fire department, you will also save. Discounts are given for heating, plumbing and electrical systems that are less than a decade old, as well.
Find out what kind of home replacement coverage is offered on your home owners insurance policy. Some will guarantee replacement while others will limit the amount of money you will get if your home is destroyed. Some insurance companies have a cap on the payments to a percentage of the face value of your policy.
The best way to lower your insurance payment is to raise your deductible. A high-deductible policy is a bet against the house, so to speak. You’re preferring the risk of having to shell out for a high deductable over the fact of having to shell out a higher amount of money every month. So, if you are conservative, this may not be the best fit. But if you’re willing to chance having to pay out that high deductible, then this strategy is worth adopting.
It’s not that you cannot trust the insurance companies; it’s that you always need to be informed before you make any type of decision, on this scale. We’re talking about your home here, not just some automobile. Use these tips, in order to find the best type of coverage for your home.
Tips to Reduce Your Home Insurance Costs
Tips to Reduce Your Home Insurance Costs
All homeowners are looking for ways to reduce our home insurance costs. Costs continue to rise and budgets get tighter and tighter with each passing year. Here are 8 tips to reduce your home insurance costs.
1. Increased Home Security
Most homes are fitted with some sort of security device. To make the most of your Home Security Discount make sure that you home is fitted with: dead bolt locks, smoke detectors, fire extinguishers and a burglar and fire alarm that are monitored. You do not have to have all of these to receive a discount on your home insurance so even if you only have one or two make sure that you ask for the savings.
2. Keep your credit score as high as possible.
While it would seem that a good credit score would have nothing to do with insurance rates, it is a fact that they do. Home Insurance companies are using your credit score as an indicator of responsibility. The theory is the more responsible the individual the less claims they will have. So, insurance companies are giving lower rates to those individuals with a better credit score.
3. Consolidate your policies.
Most, if not all companies that sell home insurance, offer discounts for insuring your autos with them. These discounts can sometimes save you up to 30% off of your total insurance bill. Plus, you get the added convenience of having one agent for both your home and auto insurances.
4. Protect your home with updates.
Discuss with your agent about the possibilities of receiving home insurance discounts for keeping your home in good repair. Some home insurance companies will offer savings for a anew roof, electrical, HVAC, plumbing updates. The discounts are generally not enough to warrant the replacement but if you needed it anyway, be sure to get the discounts if applicable.
5. Make sure you are not over insured.
Your home insurance coverage should not necessarily be what you paid for them home. Land values are calculated into the final sales price and should be considered when insuring the structure. In others words you cannot hurt the dirt. A good idea is to call local builders and ask them what new home construction cost per square foot is going for. Take that number, multiply that times your square footage and that is the amount that your home should be insured for. Companies will not pay more than what it is going to cost to rebuild the home anyway, so make sure you are insured correctly.
6. Stay away from low deductibles.
The deductible is your portion of the claim that must be paid before the insurance company pays for the claim. The lower your deductible, the higher your premium will be. Deductibles can range anywhere from 0-00 or more. The majority of homeowners will carry a 0 deductible, but the savings one can receive by raising your deductible to 00 can be significant, up to 20%. It doesn’t take too many claim free years to make up the difference between the two deductibles, but remember you should never raise your deductible to a level that you could not afford to pay.
7. Ask your Home Insurance Agent
Most of the time, an agent will make sure that you are receiving 100% of the home insurance discounts that you qualify for, but it doesn’t hurt to ask. Some insurance companies have discounts that others do not. Some offer discounts that most would never dream as being a discount such as 55 and retired, non smoking, military service, law enforcement, single parent discounts, etc.
8. Don’t be afraid to shop Around
Home Insurance shopping is easy. Insurance shopping online is even easier. Companies like ours at HometownQuotes.com (yes, I am biased) have given you the ability to get multiple home insurance quotes by filling out a form that takes about five minutes to complete. Also be aware that not all insurance companies are created equal. There are some bad ones out there but most, at worst, are pretty good. Getting the best price is great, but check up on the company offering you that price at reputable insurance rating sites like Moodys.com or AMBest.com.
What Is The Best Home Insurance Rate Online?
What Is The Best Home Insurance Rate Online?
Just as there’s no universal “best home insurance policy,” there’s no universal “best home insurance rate.” Sure, it’d be great if we all paid, oh, a year for home insurance but that’s just not going to happen. Especially since coverage can vary so much from policy to policy. So, you should set out to find the next best thing. That’s the best home insurance rate for the exact coverage you need.
Begin by evaluating the coverage you need. Is your home rented, traditional, or mobile? Do you want to cover everything, or just your valuable jewels? Do you have a homeowner’s association that requires you to purchase a certain amount of coverage? What about a lender? It makes sense to have at least a slight idea of what you’re looking for before you begin looking.
Next, search for home insurance companies that offer the coverage you need. Even though searching online is quick and easy, it’s still beneficial to talk with family members, friends, and neighbors, too. Get a few company names then look for each one’s website. There, you will find more details about the kind of coverage offered by each company and what kind of home insurance rate you’ll be looking at based on your coverage needs.
Once you find an insurance company that offers the home coverage you need and seems to offer it at a home insurance rate you can live with, it’s time to call a live agent or representative from the company. Find out specific information. Are the home insurance rates quoted online accurate? Are you eligible for any of the discounts you read about? Are there any extra ways you can save money on your home insurance rate without sacrificing coverage?
Getting the best home insurance rate online doesn’t mean getting the cheapest rate; it means getting the rate you’re willing to pay for the home coverage that best fits your needs.
Home Owner’s Insurance And You – Simple Ideas For Success!
Home Owner’s Insurance And You – Simple Ideas For Success!
If you are looking for basic information regarding homeowner’s insurance plus some other tips that you might not have heard of, this article is for you.
You may want to think about purchasing an umbrella policy. Liability insurance goes into effect if someone is injured on your property. If you have assets, try to get an umbrella policy that would also provide you with extra liability coverage to your house. They tend to run cheap, usually around 0-0 per year.
Buy all your insurance policies from the same insurance company. By purchasing your home insurance, contents insurance, health insurance, life insurance, dental insurance, travel insurance, flood insurance, pet insurance, mortgage insurance, credit insurance and auto insurance from the same insurance provider, you could be eligible for a large multi-policy discount.
Keep your insurance agent aware of any remodeling changes you make to your home. In case of a fire or other tragedy, you may be lacking in coverage to replace new carpeting, furniture, cabinets, flooring, appliance and pricey personal items. Your agent should offer to do a walk-thru of your home and make a reassessment of your insurance needs on a yearly basis.
Make sure your homeowner’s insurance policy is a “guaranteed replacement value” one. This protects the investment you have made in your home, because if your home is destroyed in a natural disaster, it will be reconstructed, regardless of the cost. Building a home increases in cost every year. This type of policy gives you a financial cushion and absorbs the increasing home-building costs, so you don’t have to.
When adding a feature such as a swimming pool or trampoline to your home, factor in insurance costs and recommendations in the project. Defined as attractive nuisances, these features have increased risks associated with them can increase premium, but following recommendations like adding a secure fence and gate can offset the expense somewhat.
On your homeowners insurance policy, you will be able to save money by choosing a higher deductible on your policy. You will generally start to get a discount at a 0 deductible and the discount increases as the deductible increases. Check with your lender first if you plan to go higher than a 00 deductible as some lenders do not allow this.
Make your annual homeowners insurance payments in one payment rather than on a monthly installment plan. Many insurance companies charge an administrative fee for monthly billing and payment. By paying the entire year’s premium at once, you save yourself this additional expense. Some companies even offer additional discounts if you pay all premium at once.
You should always review your homeowner’s insurance policy annually to make sure that you still have the right policy for your home. Compare your premiums with quotes from other insurance policies. Be sure to take note of any changes that could affect your premiums, both on your property and in the neighborhood.
As you have seen, there is quite a bit of information in regards to homeowner’s insurance. Hopefully, you will find these tips beneficial when making decisions regarding homeowner’s insurance.
Homeowners Insurance Made Simple. The Best Tips And Tricks! (4)
Homeowners Insurance Made Simple. The Best Tips And Tricks!
Have you recently bought a home and purchased home owner’s insurance? Maybe you own a home and you have yet to purchase insurance for it. Either way, it is important that you are well-informed about the ins and outs of home insurance. The following article is going to give you some of that knowledge.
Mortgage lenders will require you to have home owners insurance on your property. A policy can help protect your investment against certain types of natural disasters. Finding out how much a policy is going to cost you for your potential new home is an important part of knowing if you can afford the home you are considering.
Lots of things can damage your home. One of them is fire. You need to purchase a fire insurance policy which protects your investment from fire caused by arson, human error, wild-fires, storms, cars and earthquakes. Check your policy and ask questions from your insurance agent to make sure you are protected from these types of damages.
Keeping your records up to date can help make your insurance claim process much easier if something should happen. If you have made any significant renovations, let your insurance company know. Also, keep an inventory of your personal belongings and what the value is. Take pictures or video of valuable items. Good records can be very helpful.
Consider raising the deductible on your home insurance policy. A higher deductible on your insurance policy can significantly lower your annual home insurance premiums. Unfortunately, by raising the deductible, your home insurance company will no longer pay for small claims, such as broken window repair, leaky pipe repair and minor wind and flood damage repairs.
If you are not in an area where you are forced to have homeowners insurance of last resort, such as Florida, take some time to get quotes and get the best rate for your policy. Many insurers will have a wide variety of prices so get quotes from at least three.
If you want your property to be fully insured against loss or damage, you need to periodically reevaluate the worth of your home and adjust your coverage accordingly. If you have made major improvements, additions, or repairs that would affect the worth of the home or which would cost significant amounts of money to replace, and they are not reflected in your property insurance coverage, you will not be able to get what you’ve put into your home in the event you need to file a claim.
When preparing an insurance claim, always solicit price quotations from reputable area contractors prior to negotiating with your claims adjuster. Make certain to retain all receipts and documentation for any emergency work you have done in order to stave off additional losses. Keep track of all monies spent on temporary lodging, as these outlays may be fully reimbursable under your policy.
In conclusion, whether you are an insured home owner or if you have yet to get home insurance, it is wise to be well informed on the subject. Use the information given to you in the above article to make sure you have the best home owner’s insurance possible.