Homeowners Insurance Deductible
House Owners Insurance – Insurance Advice – Self Help – Advice
December 1, 2010 | Author admin
Homeowners insurance is often overlooked. Auto, health care and life assurance are frequently thought about more. Yet, it is just as critical to think regarding your home owners insurance insurance plan as well.
House owners insurance or inadequate House insurance, may ruin your nest egg. A big loss that is not insured may take all of your savings. It may take a lot of time. It could take more time than you have left to work, to replace the money you would lose if your dwelling was destroyed.
Fire isn’t the only hazard covered by a homeowners insurance plan. A house owners insurance plan also includes liability coverage and theft coverage.
If your home is completely consumed by flood waters, an insurance plan that includes flood insurance is crucial. The 2005 hurricanes in the Gulf of Mexico have have forced us to think about the damage flood waters could do to a home. Floodwater damage isn’t covered by the typical house insurance plan, so be certain to investigate this part of your insurance policies.
You also want to be certain that your date homeowners insurance policy will cover the rebuilding your home. If your dwelling was destroyed, you want to be able to reconstruct the entire houseand not merely a portion of it.
Carefully considering the all aspects of your home owners insurance might just keep you from losing your dwelling if a fire or other calamity hits.
You should know the answers to the following:
Will my insurance costs be reduced if my home and cars are insured by the same insurance company?
Will my current limit of coverage be enough to pay to rebuild my dwelling if a calamity hit?
Are my furniture and other possessions inside the dwelling well covered?
Ensuring that your insurance up-to-date house owners insurance is just as important as getting good insurance in the first place. Your home owners insurance should be enough to pay for reconstructing your house. Since the cost of construction material and labor will probably change on a regular basis, it’s crucial that you keep your policies current.
This is true for other types of coverage as well. Life coverage face amounts ought to be updated since the things that you want your life insurance to pay for will cost more as time goes on. Health care cover needs to be updated because your family size and your needs could change from one year to the next. Vehicle insurance needs to be current since you may have different cars and drivers in different years.
A good financial plan not makes sure that you accumulate assets, but also makes sure that your money don’t evaporate should a catastrophic event occurs. Insurance for your major exposures is crucial if you want to have the best chance of having enough money during your retirement.
House owners insurance is frequently much less expensive than vehicle insurance. You will see fewer advertisements regarding Home insurance when compared to car or life insurance. You may not pay your Homeowners insurance directly.
These may be some of the reasons that it is easy to overlook. Be sure to look for the best House owners insurance plan and to make sure you are well protected. Adequate homeowners coverage could be the only thing that keeps you from being homeless. Make sure that your Home owners insurance plan covers you well.
via House Owners Insurance – Insurance Advice – Self Help – Advice.
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It’s Going to Be a Cold, Cold Winter-Is Your Home Properly Winter-Proofed? | PR Newswire | Find Articles at BNET
November 29, 2010 | Author admin
Winter-Related Damage Causes Over A Billion Dollars In Losses Each Year
NEW YORK, Nov. 19, 2010 /PRNewswire-USNewswire/ — Many winter-related disasters can be prevented if you take a few simple steps to protect your home from freezing temperatures, snow and wind. With the weather still mild, autumn is the perfect time to winter-proof your home, according to the Insurance Information Institute (I.I.I.).
“Standard homeowners policies cover winter-related disasters such as burst pipes, ice dams, and wind damage caused by weight of ice or snow, as well as fire-related losses,” said Jeanne M. Salvatore, senior vice president and consumer spokesperson for the I.I.I. “Coverage for flooding is available from the National Flood Insurance Program and from some private insurance companies. Winter-related damage to cars is generally covered under the comprehensive portion of an auto insurance policy.”
Melting snow can inflict significant damage to property, and winter storms are the third-largest cause of catastrophe losses, noted the I.I.I. In fact, according to the Insurance Services Office, winter storms accounted for 7.4 percent of catastrophe losses nationwide from 1990 to 2009, or an average of $1.25 billion per year (in 2009 dollars) with the average homeowners insurance claim for water damage and freezing coming to $5,896.
The Farmers’ Almanac predicts that “the eastern third of the country, (New England down to Florida and as far west as the lower Ohio River and Mississippi River Valley), will experience colder-than-normal winter temperatures. Across New England, where relatively balmy temperatures prevailed during the winter of 2009-2010, the upcoming winter will be the equivalent of a cold slap in the face, as we forecast much colder-than-normal temperatures.”
To prepare your home for the upcoming winter, the I.I.I. offers the following tips:
Outside Your Home
Learning About Insurance- Part 2
November 8, 2010 | Author admin
At the end of Part 1 I said I would discuss some good deals you can get in insurance and this is what I intend to do in this section. No bargains can be found in the “must have” type policies, like auto and home insurance. But there are some policies I highly recommend.
The first type of policy I recommend is an umbrella policy. This is a policy that covers you for personal liability. Depending on your insurance company you can get a $1,000,000 umbrella policy for as little as $200-$300 depending on what you are covering. This is usually for 2 cars and one home. Once you add more cars and additional houses the premium goes up. Hopefully you never need to use this type of policy but in this country, where people file law suits for spilling hot coffee on themselves, you need to protect your assets. If you do get sued wouldn’t it be nice to know you have a million or more in coverage for a couple hundred dollars a year?
In some cases an umbrella policy can save you some money. How? Some people understand the importance of having the proper amount of coverage. Instead of having an umbrella policy they add more liability coverage on their auto policies and home policies. For example, you can get an umbrella policy if you have $100K in liability coverage on your auto and home policies. Some people carry $250K in coverage on their auto. The cost of increasing from $100K to $250K is usually as much, if not more, than having the umbrella policy. So, these people carry only $250K in liability coverage for the same price, or more, than someone with an umbrella policy and $1.25 million in coverage.
The next kind of policy I recommend to those who don’t have it through work is a short-term disability policy. This covers you if you are out of work for any length of time and can’t make any money. Anyone looking to start a family should have this because while the new mom is home with the baby she can get paid while on maternity leave. This type of policy is becoming more and more popular as employers are looking to cut costs by reducing benefits.
My wife had a short-term disability policy because the school system she works for does not offer STD benefits. We pay roughly $75 month for the policy that will pay her just under $3000 for a month out of work. As long as you can get a doctor’s note saying you should miss work you can receive a predetermined amount of money for up to six months. After six months you will need a long-term disability policy. Let me tell you, this money came in handy when our daughter was born.
Most people will say they don’t need this type of policy but I think it is a bargain. We have actually made money on this policy because we have had it 3 years and it has cost us $900 per year. We have made one claim, when my daughter was born, and we got $3000. Unless you commit fraud you cannot make money on an auto or home policy.
I think I have shown you two bargains as far as insurance goes. Anyone with something worth taking should have an umbrella policy. Anyone that is not offered STD benefits through their employer should have this type of policy. In part three of this series I will discuss homeowner insurance in more detail, don’t miss it.
Wedding Insurance Designed For A Very Special Event In Your Personal Life
November 8, 2010 | Author admin
It can be every girl’s wish, to enjoy a fantastic wedding ceremony and party. Having most of your relations and best friends gathered round, to see the blushing new bride and her handsome groom, enjoying the most important event of their lives.
These days, a big wedding occasion may very well cost you a large sum of money plus so much time and effort will go into the setting up of the celebration. If anything goes drastically wrong, you really need to be compensated.
Wedding insurance can provide a valuable safeguard from the unexpected
What exactly would occur, if you should change the particular date for the wedding at the very last minute, on account of unpredicted considerations, such as a terrible major accident or illness? You will most likely incur cancellation expenses for rescheduling the marriage reception location, caterers etc. Let’s suppose the big event gets rained off or possibly the wedding catering company fails to arrive? You will want to understand or know that you have a backup master plan for the most significant day of your life.
For your personal protection, it seems sensible to invest in wedding insurance or event insurance, that provides financial compensation, if your most awful nightmare transpires. Wedding insurance is designed to take care of the unpredicted, when you just simply can’t afford the unexpected to take place.
If you have a honeymoon planned and you’re intending to journey abroad, you might like to also give consideration to getting travel insurance protection.
As soon as you return from honeymoon and move in to your own property together, you would be required to choose house contents and property insurance protection. You can never be too careful, for the reason that errors and mishaps can certainly be expensive.
High value home insurance for your important wedding gifts
In the event that you are fortunate to have affluent parents or other family members, possibly you have been given a variety of high priced wedding gifts. Some may possibly include things like antiques or exceptional works of art. You may also have selected costly wedding and engagement rings for each other. You may therefore wish to look into buying a more specialised high value home insurance policy that is specially custom made to safeguard your most significant and prized possessions, in cases where they may be stolen or damaged by fire or an acciden
via Wedding Insurance Designed For A Very Special Event In Your Personal Life.
Your Homeowner’s Insurance Policy ‘Dissected: Part 3 of 5
November 8, 2010 | Author admin
If your homeowner’s insurance policy has been stuck in a drawer, cabinet or just tucked mindlessly away somewhere, it is probably about time to pull it out, shake off the dust and make sure it’s still up-to-date. This article is the third in a series of five articles that will help you decipher your homeowne’rs insurance policy.
The laundry is piling up again, you really want to find out what’s happening between McDreamy and Dr. Grey and now that the kids are in bed, you just want to sip on some chamomile tea and forget about everything else. The last thing on your mind is your homeowner’s insurance.
While keeping your homeowner’s insurance updated is a dismal task, it is of utmost importance. As discussed in a previous article, not only is it important to purchase homeowner’s insurance, it is just as important to know what that policy covers.
Homeowner’s insurance policies contain several different coverage areas.
The topic of the previous article, Part 2 of this series, discussed insuring the detached structures on your property. This article will explain how to insure your personal items and belongings.
COVERAGE FOR PERSONAL ITEMS AND BELONGINGS
In addition to covering your home and detached structures, your homeowner’s insurance also includes compensation for theft of or damage to your personal property. Keep in mind that every homeowner’s insurance policy is different.
Because every single homeowner’s policy is unique, you need to know what your policy’s coverage limit is. The average coverage for personal items in the typical homeowner’s insurance policy usually ranges from 50 to 75 percent of the price your home is insured for, depending on your insurance company. Confused? Don’t fret.
In a nutshell, if your house is insured for $450,000, your personal belongings should automatically be covered for between $225,000 (50 percent) and $337,500 (75 percent). Again, however, your policy may be different. This is a very important detail, so be sure to check your policy!
In the end, it is essential to know what you’re covered for because each homeowner’s insurance policy is different. You need to know what yours limits or excludes.
Is your homeowner’s insurance policy up-to-date? (Some policies automatically update your home’s current value. Does yours?) While it is easy to let that dust settle over your policy from year to year, keep in mind that putting it aside could cost you much more in the end. Your homeowner’s insurance policy may make heavy reading, but it will be even more burdensome should you not know what is covered in it.
via Your Homeowner’s Insurance Policy ‘ Dissected: Part 3 of 5.
What Does Homeowners Insurance Cover?
November 8, 2010 | Author admin
Every homeowner should realize the importance of homeowner�s insurance policy. Homeowners insurance policy not only protects the homeowners from man-made and natural disasters, but it also protects you from several other situations.
The basic homeowners insurance policy pays you in case of any damage due to fire, severe storms, tornado s and hurricanes. Damage to your property, possessions and home are primary elements to be covered. Coverage provided by the policy is not the most important aspect; the most important aspect is the amount they provide in case of any disaster.
Lost of possessions like furniture, electrical appliances, jewelry, clothing are also generally covered by some of homeowners insurance policies, up to a specific percentage of the policy.
Liability coverage protects you in case you are responsible for someone else’s injury or property damage. In such cases home owners insurance will soon provide you minimum 18,000 USD as coverage. Policyholder can buy an extra premium of $1.5 million. Liability coverage also covers certain injuries that happen within the premises of your home such as your dog biting someone. A sum of $700 is paid to the insurer with basic homeowners policy; this can increase up to $5,000 after paying extra.
Dwelling coverage will pay you in case of damage to your outstanding building (garage, storage, shed, fencing, boundary) and your home.
Loss of use coverage will help you in case if your home is damaged due to fire, storm or any other man made or natural calamity. Loss of use coverage will pay your expenses when your home is not suitable to live.
You must think over all the issues before purchasing a homeowners insurance. Consider the reputation of the insurance company and do not make decisions solely based on premiums of policy. Using Internet, you can find reputed home insurance company with best homeowners insurance rate. With a bit of research work you can get the best deal.
Homeowners insurance facts
November 6, 2010 | Author admin
For most of us purchasing a home is the biggest investment to mike during the whole lifetime. And it’s reasonable that such an important investment needs reasonable coverage. That’s why you need homeowners insurance.
Homeowners Insurance Comparisons – Where To Get The Best Rate
November 6, 2010 | Author admin
Homeowners insurance covers more than just your home. It also covers your personal possessions and protects you from personal liability lawsuits. Here’s what it covers:
