Jun 172018
 

If you are a recent home buyer or just in need of an update to your insurance policy, it’s vital that you have proper coverage. Homeowner’s insurance keeps you protected from natural damage, theft, and accidents. This article includes information you should know about homeowner’s insurance.

If your home is damaged severely with water, do not dispose of any destroyed property before your insurance adjuster can assess the damage. You can remove destroyed items from the home so that they do not cause further water damage to floors or other items, but leave them on the property. Failure to do so means you may not be compensated for those items.

TIP! Paying off a home mortgage can help you save on your policy. As a rule, many insurers reason that homeowners are better housekeepers and maintainers than renters or people who have not yet paid for the home entirely.

Before installing a pool or buying a trampoline, be sure to check with your insurance company to see what effect this will have on your premiums. Some companies will charge as much as 10% more to insure a house with a pool, trampoline or other potentially hazardous equipment on the property.

Take a look at your insurance needs whenever your number of valuable items increase. You should just look at the policy to determine whether you have coverage limits on high-value things like jewelry. You can ask for a rider for specific items if you want, so they are theft-protected.

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.

TIP! Keep the agency updated with a current list of items and values in the home. If disaster should occur, this list will be responsible for determining coverage values.

Do you own – or wish to someday own – your home? If so, you need homeowner’s insurance. Having read the tips in the article above, you’re now ready to go out and find the perfect policy for you. Never think of your policy as an endless waste of money better spent elsewhere. Instead, think of homeowner’s insurance as a valuable asset.

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