Many companies would like you to get home owner’s insurance through them. You have to figure out which one is best for your family. Your home needs to be protected, but not any old policy will do. Read the tips below to help you seek out the insurance policy that works for you and your home.
If you want to be sure you are paid properly for a homeowner’s insurance claim, you must report any loss to the insurance company immediately. Claims on your home are subject to certain time limitations, so waiting too long may give the insurer a reason to say that the claim is no longer valid.
When you are dealing with homeowners insurance keep in mind that some insurance companies will actually lower your premium if you get your mortgage paid off. They will think that since you own the home outright you are more likely to take better care and pride in your home.
Putting an addition onto your home will increase your homeowner’s insurance rates because there’s now more home to insure. Minimize the increase by being smart with your building choices. If you can arrange for steel-framed construction, you may be able to pay less by choosing this less-flammable material. Consider the new roof’s fire rating as well.
Keep your homeowners insurance policy up to date. If it’s been a few years since you purchased your policy, you might be under insured. If you’ve made improvements to your home, your policy might not reflect the increased value. Building costs have gone up too, so review your policy yearly, and if needed, make changes to be adequately covered.
You may think that it’s a good idea to get an insurance plan that’s the cheapest, but this isn’t always the best plan. Apply these tips to protect your home and family. Avoid the generic route; don’t sacrifice your home’s protection.