Apr 182016
 

A solid homeowner’s insurance policy should safeguard your valuables in the home. If you have valuable paintings, expensive electronics, and other valuables in your home, a solid insurance plan will provide ample coverage for these items. Be certain to review this information prior to buying a policy so that you get the best price.

If you are building an addition to your home or considering a major renovation, check what effect this will have on your homeowner’s insurance rates. Wood-framed structures are considered to be a fire risk, for example, and will raise your insurance rates. Using cement, steel, or other fireproof materials will mean your addition costs less to insure.

TIP! Any time an insurance claim is being prepared, you should obtain price quotations from contractors that are honest and reputable before you negotiate with the claims adjuster. Be sure you keep all documentation and receipts for work you did in an emergency so you don’t incur more loss.

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.

It will be hard to get a claim for electronics, jewelry and other valuables approved if you do not have photographic evidence of them. This will help to give you the best possible value for your items in the event of an accident.

You can save money on your homeowners insurance by providing proof that you have made your home a safer place through the installation of a number of safety-related features. Install smoke detectors, fire extinguishers, deadbolt locks, burglar alarms, and/or fire alarms, and your insurer will likely offer you a preferred rate.

TIP! You need to understand what your coverage is if you have a roommate. Certain policies provide coverage for all items in the dwelling, though some may just cover your own items.

Of course, the more coverage provided by your policy, the more it’s going to cost you. But that need not mean you can’t bring the price down a lot because of the tips here. Use the information here, and you’ll be poised for success.

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