Financial Planning: How to Get a Home Insurance Price Quote

Shopping around for home insurance coverage can be enough to make you feel confused and tired to the max. If you want to make the process as simple as possible, however, you should begin by comparing quotes. Getting your hands on home insurance price quotes is a lot easier than you may believe at first.

Work with a Qualified Home Insurance Broker

If the process of searching for a home insurance plan on your own seems like more trouble than it is actually worth, you can do yourself a favor and seek the assistance of a qualified broker. 

Experienced home insurance brokers can help you find price quotes that can assist you with the decision-making process. They can save you effort, stress, and time as well. Look into brokers who are known for diligence.

Turn to the Internet

You can rapidly and easily request a home insurance quote on the Internet. If you want to ask for a quote, you can do so by filling out hassle-free forms online. You can usually initiate the request process by providing your zip code. 




If you’re interested in home insurance price quote information that’s a bit more in-depth, you can try to locate a nearby agent via the Internet as well.

Call Home Insurance Providers Directly

Some people prefer not to have to deal with the Internet. If you’re the kind of person who prefers to talk to a living and breathing human being, you can call insurance providers directly to ask about quotes. 

Once you get a representative on the line, you should be good to go. Answering several questions can in many cases get you a quote that you can completely trust.

Ask Around

The thought alone of trying to find home insurance plans can make many people feel uneasy and exhausted. If you want to secure quotes that are reasonable and that make sense, you should ask fellow homeowners if they have any good suggestions on hand for you. 

This may help you kick things off. It may help you steer clear of providers that may not be the best as well. Patience is always a desirable quality. It doesn’t matter if you’re looking for a renovation company, or for home insurance coverage. 

You need to conduct searches that are detailed, thoughtful, and as comprehensive as possible. If you do so, you should have ample success. Accessing dependable home insurance price quotes is easier than ever.

Insuring Your Household: Will Give You Peace of Mind

The home is where most, if not all people, feel secured and safe. It symbolizes one’s hard work and perseverance in order to provide a quality living to the family. While there’s no place like home, it is also one of the most vulnerable places since it contains our most prized possessions. There are also unforeseen events such as fire, earthquake or theft which hampers the security of the family.

There are many ways where you can insure your household. Aside from employing safety and security measures such as padlocks, double doors or CCTV camera, getting a home insurance is one way of giving you a peace of mind.

Here is an overview of what you should know about home insurance policies and why you should get one for insuring your household.

Features of a home insurance policy

Every insurance company has its own features that will make them unique and more saleable to consumers. However, most insurance companies cover the following fortuitous events:

• Fire and lightning
• Earthquake
• Damage caused by accidents, storm, rain, or flood 
• Losses or theft
• Structural damage
• Acts of war

It is also important to note that not all coverage is included the basic policy. Oftentimes, a basic insurance policy covers only fire and lightning. If you want additional coverage for earthquake or other natural calamities, there needs to be a separate policy and payment of additional premium. 

Benefits of insuring your household

With today’s economic slowdown, most homeowners think whether having an insurance policy is viable. The answer is yes. You don’t want your home to be struck by a fire before you consider applying for an insurance policy. Hence, here are the benefits of insuring your household:

• It protects your home, period. Imagine if you live in a hurricane-prone area. If you insured your home, you know you have something to turn to in case hurricane happens. Some companies even extend an additional coverage wherein if your home is not liveable, the living expenses incurred will also be shouldered by the insurance company. 
• It protects your personal belongings. Aside from your home itself, you can have the contents inside it be protected as well. This feature must be included in the policy and may require payment of additional premium. In case your house got robbed while you and your family are on vacation, this feature can help replace the valuable items lost. 
• It protects you against any court proceeding. If you’re having a party and someone slips and gets injured, you can save yourself from being sued. Your insurance company can help pay for the medical expenses – after you paid your deductible, of course. 

The more coverage you include in your home insurance policy, the greater the amount of premium to be paid. While you may think it’s a waste of money, think again. It is better to be ‘paranoid’ and prepared for any calamity or event rather than worrying about it when the time comes. 

What to Keep in Mind before Becoming a Landlord

Becoming a property owner can sound like an exciting venture, as well as a way to make extra money. Being a landlord has been considered a passive investment. That is you do not need to do anything extra for the money to come in aside from letting the property. Being a landlord can actually be a very involved experience. Here are some things that you should keep in mind if you are looking to become a landlord. 

Letting can take time

Some landlords believe that if they just advertise their property someone will be interested and they will have someone letting the property within the next week. In fact, sometimes properties can remain on market and it takes a while to find a suitable tenant. Depending on the rental market, your property may or may not be considered desirable. It is important to look at the current rental market in your town as well as the average market rent for a place such as yours. Though this may take time, finding the right person and the right prices is a process that needs to happen. 

You will need to keep up the property

Though you will be letting the property to someone else, it is the responsibility of the landlord to keep up the property. If something inside of the home or flat breaks or malfunctions, it will be up to you to get it fixed. Fixing issues on the property on time is one of the requirements of being a good landlord. Not performing house maintenance or leaving the homes appliances broken down may give your tenant a reason to get out of their lease and leave the home. Make sure that you fix maintenance issues within a reasonable time frame. 

You will need insurance

Though landlords may require that their tenants have insurance, the landlord will need to have insurance as well. If you intend on letting a property, you will need to protect yourself by having insurance. Citylandlord has a number of insurance policies offered to those who are interested in letting properties. These insurance policies can cover everything from interior decorations of the home, to rental coverage if your tenant skips out, to emergency assistants for issues related to the property. You can craft your insurance policy to meet your need and make sure you are completely covered.

Before you embark on your journey to become a landlord, make sure to learn the ins and outs of becoming a landlord. By equipment yourself with the right knowledge and the right products you can be a successful landlord and form relationships with good tenants. Make sure that your property and your ability to rent is solid before you place the home on the market. Be sure to get landlord insurance as soon as you decide to become a landlord. Once you have everything settled, you will have much less to worry about once you begin to let your property to tenants.

Brits Keen to Make Home Improvements

Those most likely to get stuck into projects to revamp their homes were consumers aged 35 to 44. Among this demographic, nearly four in five consumers (79 per cent) had enhanced their properties.

Commenting on the findings, Avant Homes marketing director Rob Slocombe, said: “The housing market conditions of the last few years has meant that many homeowners have not had the necessary deposit to secure a mortgage and so therefore have opted to stay in their current property and make improvements to it until they can afford to move.

“This research reveals the considerable investment that is required for such improvements and tells us a lot about what today’s buyers are looking for in a home to make it suitable for their current lifestyle needs.”

By researching the log book loans available now, consumers may be able to realise their ambitions of improving their properties. Meanwhile, taking this approach could have positive long-term financial repercussions. Although they will have to spend money in order to achieve the results they are after, people could succeed in boosting the value of their homes, meaning that if and when they come to sell their abodes, they stand to make money.

For the best results, it is vital that consumers choose reliable and competitive logbook loan providers. By researching companies before making any commitments, individuals can provide themselves with added peace of mind.

Meanwhile, it is also important that homeowners are savvy when deciding which projects to undertake. Certain alterations make particularly good investments. For example, adding space to homes tends to be an effective way to boost their value. There is plenty of advice available over the web if individuals are unsure.

Author Bio: 

Anna Longdin is a freelance blogger who keeps up with the latest trends in personal finance. She contributes to a range of websites, including Varooma.

Nothing is More Interesting Than Insurance

Well, if you take that literally most people would find that doing nothing is indeed more interesting than sorting out things like insurance. However, it is one of those things we need to do or risk the consequences. With so many insurance providers and products on the market how do you know which ones are right for you?

Comparison sites

Many people now sort out all their insurance needs online. There are lots of comparison websites available which will give you quick quotes and compare policies that are available from different providers based on the criteria you submit. While these sites can not advise you on what is the best policy for you, they can filter a lot of information very quickly which saves you a lot of time. Always read policy details carefully and make sure you are clear about how much the 'excess' is, which is the cost you will have to pay towards any claim. Beware of special introductory offers which might tie you in to longer renewal contracts at higher prices.

Have you got everything covered?

There are lots of types of insurance available for different things you own or do: car insurance, home insurance for building and contents, travel insurance for luggage loss, health care or extreme sports. What is covered by each type of insurance can vary from one policy to the next so you need to check what you are getting for your money. For example, some personal items are not always covered by home contents insurance and if they are they may only be covered while they are in the insured home. So you need to read carefully through the features of your policy and never assume that something is covered. It might be too late when you find out that it isn't.

Policies based on your needs

Often your own circumstances can dictate the cost or terms of insurance policies available to you. Car insurers, for example, commonly identify age, postcode and the number of previous claims/accidents as risk factors which would determine the detail or cost of a policy. You may find that you belong to a particular demographic group which has insurance policies tailored specifically for your needs. Similar things can be said about contents insurance with a different range of packages available in the market. For example, AgeUK provides a range of insurance policies designed for over 50's. Click here for more information on AgeUK contents insurance.

Help is at hand

So, with so many options available, searching for insurance and making sure you get the right policy can be a bit of a minefield. Do not worry, you won't be alone if you need to ask for help. Impartial advice is available from the Money Advice Service online, over the phone or face to face. The Money Advice Service was set up in 2010 (although it started life under a different name) to help increase the public's knowledge and understanding of financial matters with the view to enabling them to better manage their own financial affairs.

How Retirees Can Save Money on their Energy Costs

Air conditioner, complete with piping, insulated with foamed rubber pipe covering (common refrigeration insulation, along with foamglass). (Photo credit: Wikipedia)

Winter can be a particularly hard time for anybody. People are more prone to illness, roads become burdened with inches of that cold powdery stuff, and our finances are strained by the increasing energy costs of keeping our homes warm. However, winter can be particularly hard on elderly retirees who are hoping to stretch their retirement budget as efficiently as possible. 

While other homeowners are able to turn off their systems to save some energy costs throughout the day, retirees don’t really have an option if they’re homebound. Especially given that around 70% of arthritic individuals suffer far worse pain due to arthritis in cold weather, it can be difficult to compromise on keeping a home heated comfortably for the sake of a budget.

However, with the right practices, retirees never have to worry about paying exorbitant energy bills to keep themselves warm. Here are a few tips that folk who find themselves retired, or anyone who spends the majority of their time inside, can benefit from in reducing their heating related expenses this coming winter:

Perform regular cleaning and maintenance

When it comes to your HVAC system, realize that many parts come with expiration dates. No air conditioner lasts forever, ducts require constant maintenance to remain sealed, and homes regularly need to be audited to make sure you aren’t wasting energy. But if you’re experiencing trouble with your system before your equipment’s typical lifespan, it’s important to ask yourself if you’re having regular maintenance and cleaning procedures performed.

It’s important to recognize how your system works if you intend on doing these procedures yourself. It’s important to recognize the sort of system your house runs on; while many homes run on centralized air conditioning systems, newer houses run on split systems. See this article for a look inside the split system A/C in your home.

Some general forms of maintenance that you should certainly consider to improve your equipment’s lifespan and energy efficiency include:

• Changing or cleaning your filter
• Cleaning coils inside and out
• Monitoring your refrigerant for leaks
• Cleaning your ducts when debris is excessive or creating a blockage

However, it’s important to recognize your limitations if you find yourself unable to accomplish these tasks. Various how-to’s exist online on these subjects for all kinds of circumstances, but doing repairs which are out of your comfort zone could result in personal injury or property damage. And remember – always turn off your system and disconnect power supply when doing any sort of in-depth maintenance.

Consider how well your home “stores” heat

Depending on the amount of insulation and how weatherized your home is, you might be losing a tremendous amount of energy in your home. With improper insulation, it can leak through your walls. With poor weatherization, you can be sending heated air directly out of gaps and crevices in your windows, doors, open frame construction, and other areas. We wouldn’t leave a door open with the heater on; it’s equally reckless to let these gaps go unmaintained if you want to optimize your heating system.

Installing insulation should be left to a professional, especially if it requires removing or working around insulation which contains asbestos. However, weatherizing your home puts you at significantly less risk. This simply requires knowing where to find leaks in your indoor environment and how to seal them using applications like caulk, polyurethane coating, weather-stripping, and other readily-available adhesives. Professional services can perform these tasks for you, though at a premium. Doing it yourself might be advantageous if your budget is too great of a concern and you are physically capable.

With these tips, you can save yourselves up to hundreds of dollars annually on your energy bills. More importantly, you can keep yourself cozy even in the harshest times of winter without worrying about spending too much.

By Jason Wall, an HVAC technician of over 23 years with Griffith Energy Services

Make Sure You Properly Value Your Residence before Getting Homeowners Insurance

Before you attempt to purchase a homeowners insurance policy for your home, it’s vital that you know how much your home is worth and the cost of replacing what you have. This will help you determine the right amount of insurance to buy and helps your insurance agent get a better feel for the policy that you need to have in place. Doing your homework before you actually meet with an agent or get an online quote makes the premium that you receive reflect more accurately the policy that you should have.

How Much Will Rebuilding Cost?

Because building materials continually rise in the marketplace, the cost of rebuilding what you now have is indeed much higher than it was at the time of construction. You’ll need to determine what this cost for rebuilding would be if your home were totally destroyed. Meeting with a local contractor will give you an excellent idea of the cost per square foot in today’s construction industry. You will have to inform your builder of the size, style, and the quality of your appointments to arrive at a reliable figure. Perhaps you can arrange for a contractor to tour your home as it stands now, review the materials used along with the types of countertops  cabinetry, and flooring, and offer you an estimate of replacement costs. You should work with a builder who constructs custom homes so that his expertise will fit the type of home that you have.

Appointments Matter in Construction

Many homes in Florida have an exceptional touch with appointments that add elegance to the styles available in this tropical locale. CNN’s Money Magazine recommends that if you want the same type of moldings, flooring, windows, cabinetry, exterior, and custom appointments to be replaced with your homeowners insurance policy, you should make sure that the builder is aware of this. He may provide you with an estimate that uses less-costly traditional materials if he doesn’t know what you want as replacement appointments. When you select your insurance agent, you should also invite him to tour your home and discuss the possibilities of replacement materials and structures with him. You should remember to include marble, granite, custom designs, and exterior products that you prefer when placing a value on your home.

Documentation is Essential

As you prepare to purchase your Florida homeowners insurance policy, you should have documentation in place that shows exactly the items that you have, how they were displayed or arranged, and the true condition of your collections. Photos as well as videos provide excellent sources of information about the condition of your home prior to your claim of damage. You can stroll through each room and narrate exactly what you are viewing for the insurance provider. Include glasswork, antiques, special collections of jewelry, art, or firearms, and the upscale items that add to your home’s décor. Store this documentation in a safety deposit box or safe so that you will have proof when the time comes of what you once had.

Doing your homework before purchasing homeowners insurance is an excellent way to get the policy that you truly need.

Should We Live in Fear of Natural Disasters?

We live in a great country, which has afforded many people the opportunity to excel and to make goals which have a realistic chance of becoming reality. On the flipside, so to speak, we in live in a country that appears to have more than its share of natural disasters. It seems that every few months, if it's not an avalanche in one of the mountainous regions in the West, it is tornadoes wreaking havoc in the Plains; add to that wildfires out in the West and, somehow without exception, hurricanes hitting the Eastern seaboard, often targeting Florida and the rest the Gulf States. It's almost as if the calendar is set up so that every few months, we get hit with some unpleasant natural phenomena.

How Have We Been Doing?

Perhaps not surprising for a country which prides itself on law and order, as well as statistics, there have been those that have been keeping track of the types of disasters that we have been subject to, how many people been involved in even the economic cost related to them. Everyone recoils in horror when they see on the news the latest information about a hurricane or a tornado. But the numbers are actually quite startling when one starts to compile the big picture, so to speak. Ready?

A Quick Tour through the Last 30 Years

It is worth bearing in mind that sometimes, the damage and suffering caused from events such as hurricanes are not just the initial impact of the winds themselves, which can obviously level entire buildings. The ensuing flooding takes its additional toll that can often be far worse than the initial event itself. One comprehensive study identifies 640 individual events in the last 30 years. Of these, almost 400 of them were related to storms. The next most frequent disasters are floods, which occurred over 130 different times. In third place, perhaps somewhat surprisingly, are wildfires, with only 24 major recorded occurrences. What's really surprising is the fourth-place contestant: earthquakes. Earthquakes? One hardly ever hears about them on the news these days. It would be interesting to know exactly where they are occurring, and who is affected by them.

The Real Cost

Understandably, the main concern is loss of human life. The same study indicates that over 12,000 people were killed by natural disasters during the last three decades, which is a shockingly large number. Perhaps also surprisingly is the number of people affected by these disasters: 27 million! The other metric which many would find relevant is the economic cost to the US economy. Here the numbers really start to jump off the charts, with the total economic impact estimated at over $540 trillion. No wonder we pay ever greater attention to the weather reports: there's real danger lurking out there.

Keeping Your Home Protected

It's worth bearing in mind that a closer look at the statistics above indicate that over 70% of the damage caused over the last 30 years has been related to storms or floods. This is why it is very important that residents in Florida have the very best Florida homeowners insurance coverage possible. Unfortunately, it's not really a question of if, but more of when the next natural disaster will strike. A responsible homeowner will want to make sure that their insurance adequately covers their property and all their possessions at their full replacement value.

In the best case scenario, such an insurance policy will not have to go into effect, but given the statistics, chances are it will at some point. It's better to be prepared than sorry.

Homeowners Insurance and House Guests: What Every Homeowner Should Know

English:  (Photo credit: Wikipedia)

There are many responsibilities that come with owning your own home. For starters, you need to be sure that everything in your home is in good working order without anything that can be dangerous to you or your guests. You also need to have a good homeowners insurance policy that will cover any damages to your home or its contents should anything happen. Then you must also add in liability for others who visit your home.

 

Why It Is Important to Know Your Policy 

When a person, welcome or not, comes onto your property and becomes injured, you are the one that is responsible for all of their medical treatments as well as their lost wages and anything else that can be associated with their injury. While homeowners insurance will cover some of these costs, there are instances where homeowners insurance may not cover all the costs; it is important that you determine what kind of liability insurance you should keep on your home; most insurance companies recommend liability coverage equal to or greater than the value of your home. 

What Does Liability Insurance Cover? 

Liability insurance on your homeowner's policy covers the medical costs and lost wages due to an injury that happens on your property. The injury that happens on your property can be your fault, an act of nature or even the other party's fault; in any case, the insurance kicks in and covers a predetermined amount. If you do not have enough liability coverage to cover all the associated costs, you can be held liable and taken to court for the remainder of the costs. 

The injuries can be caused by various reasons including faulty construction of the home, a loose railing or any other feature of the home. Additionally, the weather can even create a way for another person to become injured. Ice and snow are often culprits of serious bodily injury during the winter months. This type of weather tends to keep doctors, and insurance companies very busy. 

What Does Liability Insurance Not Cover? 

There are also many circumstances where liability insurance does not cover the injuries or costs; which is when you are likely to be sued in court. These injuries often include floods, an act of God or other specific details in which there is no insurance coverage for. The only time the insurance does not cover an injury on the property is when the initial cause of the injury is not covered. If there is a flood for example and the injured party steps on a nail due to the flood, the insurance will not cover the expenses associated with the flood including both repairs to the home and medical costs to the injured party. This is when it is ideal to ensure that anything that has a chance of happening to your home is covered since if injuries are not going to be covered for a guest, you are wide open to losing everything to pay for their expenses. 

Liability coverage on your homeowner's policy is important because even if you have an unwanted houseguest who gets injured, you can still be held liable for their injuries. When you have this coverage under your homeowner's policy, you will reduce the risk of being sued or having to pay the costs out of your own pocket. The ideal way to get the coverage you need is to go through an independent home insurance agency like Homeinsurance.com. 

Adam Vaught has experience working within the home insurance industry. He enjoys sharing his knowledge and tips with home-owners online via blogging.

Home Warranties: Are They the Same as Home Insurance?

 (Photo credit: Wikipedia)

Both home warranties and homeowners insurance policies can be purchased to protect the home. However, since the coverage of home warranties and homeowners insurance policies do not extend to the same potential outcomes, there is no conflict in purchasing both at the same time. One is used to protect the home's amenities against routine depreciation, while the other is meant to protect the same against emergencies such as burglars and natural disasters. 

Contingencies Covered Under Home Warranties

Home warranties are purchased to cover the cost of either repairing or replacing the home's appliances and systems in case these fail due to the normal depreciation caused through prolonged use. Examples of covered appliances tend to include ceiling fans, dishwashers, oven, and range. For comparison, common examples of covered systems can include the home's ventilation ducts, its heating and cooling systems, plus its electrical system. Bear in mind that appliances and systems covered under home warranties do not include outdoor amenities such as pools and sprinklers. Furthermore, it is important to note that not all home warranties cover the same contingencies, meaning that research is needed to understand their limitations. For example, some home warranties cover refrigerators, while others do not.

Contingencies Covered Under Homeowners Insurance Policies

Homeowners insurance rates are paid so that homeowners insurance policies can be used to protect the home against both man-made and natural disasters. Examples can include fire, floods, burglaries, earthquakes, hurricanes, and even legal liabilities. Although homeowners insurance policies sometimes cover the costs of either repairing or replacing appliances and systems, that damage must be traceable to such disasters. Homeowners insurance policies tend to be similar to home warranties in the sense that not all insurance policies cover the same contingencies and amounts. As a result, consumers must take extra precautions to find out the exact details of homeowners insurance policies under consideration before making their final purchasing decisions. For example, some homeowners might be able to decrease their homeowners insurance rates by eliminating coverage for contingencies that are never going to come up. After all, there is little to no point in purchasing coverage for hurricanes if the individual is living inland, far from the coast.

Reason to Purchase Both Home Warranties and Homeowners Insurance Policies

Since home warranties and homeowners insurance policies do not cover the same contingencies, there is little fear of encountering redundancies. Instead, home warranties and homeowners insurance policies can both be purchased to prove comprehensive coverage for a home and that home's contents. Contingencies that end up being ignored under one protection measure can be handled using the other, meaning that the homeowner is never at a loss for protection.

Conclusion

In the end, it is important for individuals to remember that home warranties and homeowners insurance policies can sometimes prove too expensive to remain worthwhile. Determining the exact point at which the price crosses that line is dependent on both the cost should the covered contingencies come to pass and the chances of those covered contingencies coming to pass. The more expensive the cost and the higher the chance that the covered contingencies may occur, the smarter the choice to purchase home warranties and homeowners insurance policies becomes.


Stephen Catalano is a home insurance consultant with extensive experience in the field. His articles mainly appear on insurance websites.

3 Easy Ways to a Safer Home and Cheaper Home Insurance

Non-rechargeable fire extinguisher. (Photo credit: Wikipedia)

Home insurance is essential. If you care to protect your valuables and high-priced belongings from theft or a weather disaster such as a flood or fire, then adopting home insurance is the smartest thing you can do. All the same, just because its "smart" does not imply it’s necessarily cheap. If your home insurance quote has you feeling depressed because you will now have to cut back your food and shopping budget even more to afford it, there could be some quick ways you can earn some discounts. 

Your Insurance agent will not voluntarily tell you about these discounts, but if you call and specifically ask you'll learn that by putting in certain security devices around the house you'll be able to slash the price up to 20 percent. To learn which devices (aside from a fire alarm) can earn you a discount as well as protect your home. 

Carbon Monoxide Detector/Alarm

Carbon monoxide is the silent killer-gas is colorless, odorless, and tasteless but it's highly toxic to both humans and animals if inhaled in high concentrations. In fact, it can kill you before you even realize you've been poisoned. It occurs whenever there is not enough oxygen to produce carb dioxide which can happen when using your stove. A carbon monoxide detector can alert your family at the slightest hint of the poisonous gas. And since detectors are relatively cheap-some as low as $17- there really shouldn't be an excuse why your home doesn't have one. 

Deadbolt Locks

Installing some deadbolt locks to your front and back doors can help secure the safety of your home and potentially prevent break-ins. What's so great about installing deadbolt locks is that they're a more economical approach if you don't have the funds to spend on a sophisticated security alarm system or security camera. Deadbolt locks can be purchased at your local home improvement store and can be self-installed rather easily. 

Fire Extinguisher

Purchasing a traditional fire extinguisher, which typically retails for about $30 to $50 at your local home improvement store, is also an excellent way for you to save on your home insurance. Plus, it can help your home from catching fire if you extinguish a small kitchen fire in enough time. Store the extinguisher some place safe but also make sure it's accessible. Also teach your entire family how to use it.

Of course these aren't the only devices that can help grant you a discount(s). Call your agent to see what your options are. You may learn that you already have certain features that can give you additional discounts.

Related articles

• How to Reduce Your Home Insurance Costs (50plusfinance.com)
• How to Trim Down Home Insurance Costs (savealittlemoney.com)
• 10 Ways You Can Save Money At Home (savealittlemoney.com)
• How to Balance Between Your Income and Expenditures? (50plusfinance.com)

How to Reduce Your Home Insurance Costs

insurance (Photo credit: Alan Cleaver)

When you receive a home insurance renewal reminder from your insurance company, do you ever question it? The likelihood is that you’ll do what most of the population does and just file it away with the other insurance papers. There’s nothing for you to do; the direct debit will keep on being taken and you will remain covered. 

However, if you take the time to look at the reminder, you’ll probably notice that the premium is more than you paid last year, whether or not you’ve made any claims. So, instead of just filing it away, it’s a sensible idea to take the time to get a few different comparison home contents and building insurance quotes to make sure you’re still getting the best deal available.

Although this can be a bit tedious, you may end up saving quite a lot simply by switching insurer. Price comparison websites make the process a lot easier than it used to be as you only need to put in all your details once. If you don’t like doing things online, you can call insurers directly for a house insurance quote – and this is sometimes easier as the person on the end of the phone can clarify any queries you may have.

If you find the quotes are still coming in as high as your current policy, there are ways to reduce the premiums including offering to pay a higher voluntary excess than the standard required excess and reducing the contents cover to the minimum level (provided that it still gives you adequate cover for the contents you have). You can also expect a discount if you have a security alarm fitted, security locks on the windows and doors and smoke detectors fitted in every room.

And remember, if you get a lower quote from another insurance company, you could always try going back to your current insurer and asking if they will match the lower quote to keep you as a customer.

Related articles

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• Accident While on Holiday? Tips for Your Insurance Claim (50plusfinance.com)
• 5 Tips to Choosing a Car With Low Cost Insurance (50plusfinance.com)

Home Insurance Covers More Than Fires

 (Photo credit: Wikipedia)

First-time home buyers will find they need to insure their purchase with a homeowner’s insurance policy. Banks and mortgage companies require this protection, and homeowners that do not finance should still recognize the necessity of buying insurance coverage for what may be the biggest investment they will ever make.

Should the worst happen, a blaze destroys their investment, insurance will save the homeowner from financial devastation. But fire isn’t the only loss a homeowner may suffer, and a good homeowner’s policy will protect against a wide range of mishaps.

Primary structure
A standard policy, in addition to fire, covers damage to the house caused by windstorms, hailstones, lightning strikes, theft and vandalism. Most policies will cover damage from burst plumbing and leaking roofs. Earthquake damage and flood damages are not covered in a standard policy; a homeowner must buy insurance against these perils separately.

Detached structures
Detached garages, garden sheds, and other structures on the property are covered for damages by the same perils for which the main residence is insured.

Personal property
Personal property is anything that is not attached to the real estate. It includes a homeowner’s possessions such as furniture, clothing and housewares  Standard policies cover damage and loss to personal property, with limits. Insurers generally place a cap on reimbursements for loss by damage or theft on the following items:

• Cash, bank notes and precious metals. 
•  Securities and stamps.
•  Jewelry, gems, furs and watches.
•  Cutlery plated with silver or gold.
•  Firearms, boats and trailers.

Homeowners will need to purchase additional home insurance on these items to ensure they are covered up to their full value.

Many policies will cover, up to a set amount, the cost of replacing spoiled food caused by interruption of power to a freezer or refrigerator. Damage to the homeowner’s vehicles is generally not covered; this coverage must be purchased as part of an automobile insurance policy, although damage to the vehicle of a visitor may be covered.

Loss of use
Loss of use coverage pays for any increase in living costs a homeowner incurs if part of the insured property is rendered unfit for use by a covered peril. This can include reimbursements for the cost of a motel room while repairs are being made to the home, or include a meal allowance should a covered damage make the kitchen unusable.

Liability
With home ownership, the homeowner becomes personally liable for injury to others, or damage to another’s property, that occurs on his or her land. Personal liability coverage will pay, up to the insured amount, judgments against the homeowner in a personal liability suit. This includes slip-and-fall type injuries, physical injuries caused by the homeowner’s children or pets, and other injuries for which the homeowner is legally liable.

Medical expenses
This coverage pays the costs of medical treatment for injuries caused on the homeowner’s property, or injuries caused away from the insured property if the injury is caused by an action of the insured. It is limited to a set amount per person and covers persons other than the insured, including those that were on the property with permission.

A comprehensive homeowner’s policy will protect the insured’s investment and safeguard against financial losses that can arise in the course of home ownership.

Author’s Bio:

Jeff Hall is a freelance writer, professional blogger, and social media enthusiast. His blog Homeinsurance.org focuses on home insurance. You can follow him on Google+

Related articles

• 3 Quick Ways to a Safer Home and Cheaper Home Insurance (savealittlemoney.com)
• Facts You Probably Didn't Know About House Insurance (savealittlemoney.com)
• Insurance Tips for Soon-To-Be Retirees (50plusfinance.com)
• Invest in the Right House Insurance (50plusfinance.com)

Invest in the Right House Insurance

(Photo credit: Wikipedia)

When you purchase a new home, one of the most important options you need to go after once the sale is complete is housing insurance. There are different insurance options available to you, which is why it is so important for you to select the insurance policy that gives you the very best coverage. You don't want to end up experience problems with the house, only to find out your policy services do not cover the insurance. On top of it all, you also don't want to go about paying for insurance coverage that just isn't necessary for the area. So, by looking at the different insurance policies and options available to you, it shouldn't be very difficult for you to locate what works best for your home.

Fire/Natural Disaster Insurance

For starters, some of the biggest areas of insurance coverage you need is both fire and natural disaster. Fire insurance covers your home should the house ever catch fire (both internally and externally), so no matter how the house catches fire, you are covered. This is helpful, as you never know what may cause your home to burn down. Ranging from catching fire from a Christmas light to a spark from an electrical outlet, you really never know how this might happen, which is what makes it such a valuable option to you. In addition to this, you need to have natural disaster insurance. This usually also is an option and an addition to your insurance package. It's hard to tell when a tornado might rip through your home, not to mention a downed tree falls down and crashes through the roof of your house. Different areas of the country are susceptible to different kinds of damage, but as long as you are covered, you should be good to go.

Flooding

Flooding insurance is usually a different form of housing insurance that you need to pay extra for. You might not need flooding insurance, although it does depend on where in the country you live. Chances are, if you reside in Arizona, New Mexico, or areas of the country that just don't receive a large amount of rain, you are alright and shouldn't opt into the flood insurance. However, if you live on the cost where it rains a considerable amount, plus hurricanes are common, you probably want to opt into this kind of coverage. This last thing you want is to be left with a flooded house and no way to pay it off. This is just going to cost you thousands of dollars in possible repairs that come directly out of your pocket.

With so many different insurance policies out there, it is a good idea to look over the different policies and policy providers in order to locate what works best for you. Coverage in some areas isn't necessary, as there is no need for flood insurance out west. However, exploring your options in order to find the perfect insurance package is well worth your time.

Author’s Bio: Sharon Green's articles are very informative and impressive. She writes about house insurance to cater to the needs of her readers. If you want to know more visit Houseinsurance.com

5 Tips That Can Help Lower Your Homeowners Insurance Costs

insurance (Photo credit: Alan Cleaver)

It's that time of year when my homeowners insurance needs to be renewed. Going through Money Magazine I found a great check list of ways to save money on your homeowners insurance. My insurance went up this year 20%, quite a leap. I'm glad to have it because it is hard to get insurance in South Florida with all the worry over hurricanes. 

It's so bad many companies have bailed out of the state or are just refusing to write new policies. It was back after Hurricane Andrew when I had State Farm insurance. Just four years after, I missed a premium and they dropped me. They would not take me back even though I had my car insurance with them. Also multiple vehicles and equipment insured with them under my company. They had no loyalty to me even though I had coverage with them for the last 15 years.

You need to be prepared for anything that can happen to your home. Having fire extinguishers in several locations in your home for fire protection is one way to protect yourself. Having an alarm with fire and smoke sensors that can automatically call for help when a fire starts it will also help lower your insurance premium. If you are not sure how to get one of these home safety tools, you can go over to this site and learn more.

Choosing Homeowners Insurance, just like all business decisions, comes down to dollars and cents. So for you and me, we must also do what's right for us. Here are 5 tips to help in your adventure in purchasing your homeowners insurance.

A Homes History Matters.

If your shopping for a new home it may seem unfair but claims associated with the property before you by it can result in your paying more than you would otherwise. Certain locations may be more prone to certain kind of claims.

To get past info on claims ask for a copy of the homes CLUE (Comprehensive Loss Underwriting Exchange) report. this will show all past claims. The homes past history of claims will impact all future insurance rates. If you like the house and purchase it you will be stuck with it's history. This could work in your favor because if the report is negative you could negotiate a lower price for the home.

Don't File Small Claims, It Can Cost You Money.

Go with the highest deductible you can afford and use the savings for all minor repairs. If you file a claim for every broken window or leaky pipe you can drive up your premiums 10 to 15 percent. Insurance agents say even just inquiring about a claim can raise red flags. Increasing you deductible to $1000 or more you can substantially save you money on your premium. Check with your insurance agent and get a quote of insurance with higher deductibles. It could save you money

A Bad Reputation Can Cost You Higher Premiums.

When insurance agents give you an insurance quote they tap into the Comprehensive Loss Underwriters Exchange to see your relationship with past insurance companies. They want to see your history of past claims. To many claims raises a red flag and may increase your premiums.

You can check your insurance report for errors at Choicetrust.com, it's free if you have been denied coverage, otherwise it costs $19.95.

You May Have to Much Coverage.

You may have an inflation-protection clause in your policy. This automatically increases your premium with inflation rising. This adjustment may be erroneous. Switch it off and keep an eye on your home value yourself. Sometimes the costs of replacement could be less than when you originally purchased the policy. You could of paid a premium for your home, way above the actual replacement value. Check on your actual replacement cost and lower your premium.

Loyalty is Overrated.

Insurance companies that are associated with banks may be using you to make up for losses in the banking part of the company. Remember insurers are still competing for your business. You may be able to get a better deal as a new policy holder than as a existing one. When it's time to renew check Insweb.com and Netquote.com to see if you can get a better deal. Try to bundle it with your car insurance company, you may get a premium cut of 5% to 15%.

Lower Your Home Insurance Costs

Image via WikipediaIn my state, we are bracing ourselves for the next round of home insurance premium increases. It seems that even though we haven't been hit by any major weather events over the last several years, the insurance companies fund to cover such things is highly underfunded. 


Price increases for home insurance are not the kind of expenses you can cut back on, they have to be paid.

Finding ways to reduce or slow the increase of your home insurance bills are possible. It will take some effort, but it is possible to save yourself some money.

Raise Your Deductible.

A deductible is the amount of money you are going to pay toward the loss before the insurance company begins to pay a claim. Presently, most insurance companies recommend a deductible of at least $1000. Why not increase the deductible to $1500 or $2000. See how much you will be saving and with the two options. If it will save you a substantial amount, why not change it. Try it for a year, if your fearful it's to high, change it back. The insurance company will gladly take your money.

Improve Your Homes Resistance to Damage.

Insurance companies are very helpful in offering discounts for a smoke and fire alarm. Ask for a list of these discounts. A burglar alarm with central station monitoring will reduce your insurance costs. Check to see if your insurance company will give you a discount for new dead bolts and other security monitoring.

If you live in areas with major weather events and natural disasters, you may be able to save on premiums by adding storm shutters, strengthening your roof or replacing it completely. Finding ways to make your home more modern and up to the newer building codes for your heating, plumbing and electrical systems to reduce the risk of fire or water damage will reduce insurance costs.

Shop Around.

Always remember you are not tied to one insurance company. Seek out several home insurance companies for a quote. Check consumers reports, independent insurance agents, and online insurance quote websites. Be sure to weigh the best price with the quality of the company. Go online and search for complaints against your insurance company. Make sure your insurance company is rated well by the state and has the financial capacity to be able to pay when the time comes.

Combine Home and Auto Policies With The Same Insurer.

Some companies that sell homeowners, auto and liability coverage will take 5 to 15 percent off your premium if you buy two or more policies from them. But make certain this combined price is lower than buying the different coverages from different companies.

Make Sure Your Credit Report is Good.

It may seem to not be fair to link the amount of your home insurance premium with your credit score but it is a regular practice of insurance companies. When you apply for credit, a low credit score is punished by paying a higher rate on borrowing money. So it is with insurance companies, you will be judged a higher risk and charged more for your premium.

Finally, review the cost of rebuilding your home and make sure you are paying the right amount of insurance for it to be replaced. A newer home will sometimes have a lower premium because the age of the house makes a difference. The quality of you fire department is taken into consideration. If you live in a urban or rural community, it will affect the price of your premium.

There are many ways to save money on your home insurance costs, it just takes working closely with your insurance agent to make sure every discount is taken.

Finding Cheap House Insurance For The 50 Plus Person Is A Necessity In Retirement

Image by Laineys Repertoire via FlickrWhen getting ready for retirement you need to reaccess many of the financial parts of your life. From where your going to live to how you will support yourself. Reducing expenses is a priority for making your income go further. Utilities, food, transportation, and insurance are all necessities that we must try to budget for and find ways to save money.

House insurance for the 50 plus crowd is one of those large expenses that has to be looked at to find ways to save money on. Luckily, insurance companies look highly to the 50 plus crowd when giving a quote for a house insurance policy.

Getting old does have it's disadvantages but when it comes to insurance there are benefits. Many insurance companies recognise that people over 50 make fewer and smaller claims. What’s more, if they do make a claim, they tend to be more honest about the true amount lost. So make the most of your glowing reputation as a mature and responsible citizen when seeking house insurance quotes by going to an insurance company that favors the 50 plus crowd with generous insurance discounts.

Why should insurance companies favor the over 50s?

In the eyes of the insurance companies you are a lower risk when it comes to house insurance. Insurance companies see you as a stable and good partner in taking care of your home. People in their 50s, 60s, and 70s care for their homes better through maintenance and repairs. The house of the 50 plus person is in better condition resulting in less risk for the insurer. They are not running around chasing children or going to a job. They have more time for there homes.

What should I look for in a House Insurance Company?

• By switching insurance companies most people save at least 10% to 20%. Look for an insurance company that specializes in people over 50 years old.
• Make sure you save at least 10% when you switch. Mention it to the new insurance company you need to save money, let them work for your business.
• Tailor the policy to not only cover your home but also it's contents so you not only guarantee coverage but replacement coverage.
• Check out heir claims process for ease of use. Do they have a helpful claim center with communication through Internet, phone and fax.

A House insurance company that specializes in the 50 plus person and wants to provide you with cheap House Insurance is Castle Covers. Go here for Castle Covers Cheap House Insurance for over 50s'.

What is Flood Insurance and How Do I Know If I Need It?

It's that time of year again when the home insurance policies are due for renew. I got my homeowners policy and in a couple of months the flood insurance policy will follow. My mortgage company requires me to have flood insurance because my home is in a flood zone. It's a good idea because your home owners policy does not cover damage by rising waters. I'll probably never use it but I sleep better knowing it's there.

With hurricane season approaching it's better to be prepared. Some people make the mistake of thinking damage caused by rain and wind from a hurricane are covered by the homeowners policy. Many people in New Orleans made that mistake when hurricane Katrina came through.

So, if your lender doesn’t require flood coverage that obviously doesn’t mean you are safe from flood risk completely. Every home is at some type of risk for flood damage. So, how do you know what type of risk zone your home is in?

Your best bet is to visit the FEMA Flood Insurance website FloodSmart.gov and Safety.com for more information. They have a flood risk profile tool where you can type in your address and assess the flood risk of your home: FEMA Map Service Center. The results page will also show average flood insurance premiums in your area.





Don’t want to take their word for it? FEMA also offers online flood maps which are used to determine flood risk for each property. You can visit the FEMA flood map for your property to see exactly where the flood zone lines are drawn in your neighborhood.

These maps are only estimates of your home’s flood risk and should not be taken too literally. Many homes that are in “low risk” zones may experience a significant flood at some point- so it is always a good idea to purchase some flood coverage if you want to be completely protected.

In the event of a disaster, a home inventory can be your greatest asset. If your home is lost in a covered peril, your first call will be to your home insurance agent and your task of proving what was lost will begin. Will you remember everything you owned after it is gone? Especially in a time of crisis? Having a pre-established home inventory will take the headache out of that task- leaving you to focus on more important things.

Here is a checklist you can download to catalog all your belongings.

Download as Microsoft Word (261KB) 

Download as Microsoft Excel (47KB)

It's also a good idea to get out the video camera and do a room by room video inventory of your belongings. Be sure to open all the closets and record video of all your clothes, shoes, coats, and stored items. Get pictures of all special items like computers, electronics, tools, jewelry, etc. Be sure to note model numbers on expensive items.

If you have an iPhone, there's an App for that. Check out MyHome Scr.APP.book over at iTunes.