Classifications of Home Insurance When you take out a home insurance policy, fire coverage is included in addition to protection from natural disasters and theft. Flood protection is excluded from the standard home insurance policy and must be included as a rider. Standard home insurance plans are the usual types of home insurance policies issued and are classified as HO-1 (covering liability, contents, and property damage from eleven perils); HO-2, which provides the same coverage [...]
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Home Upgrades Often Necessitate Obtaining More Home Insurance Coverage While most home remodels are going to cost you in the thousands of dollars, they can also offer you a significant return on your investment too. Renovations, especially kitchen and bath remodels, can add substantially to the value of your real estate. What’s more, in some instances, you are rewarded with energy savings too. Therefore, when you renovate your home, you will need to contact your [...]
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Most People are Not Carrying Enough Home Insurance Many homeowners find, after a natural disaster strikes, that they were not adequately covered under their home insurance plan. Actually, across the country, statistics reveal that the majority of homeowners do not carry enough home insurance and fall short by almost 20%. So, if you had a home that cost around $250,000, which was destroyed, say, by a hurricane and needed to be rebuilt, you’d probably have [...]
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Review your Home Insurance and Auto Insurance Policies When it comes to your personal belongings, it’s important to know exactly what is covered under your home insurance policy. Review the terms for both your home insurance and auto insurance plans then to see how you are covered for damage or theft of any personal property left in your car or truck. While Coverage is Provided, It May be Minimal A number of home insurance companies [...]
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Do You Live in an Area where Sinkholes can Occur? Then Make Sure your Home Insurance Offers Sinkhole Protection Going by such other names as swallow holes or snake holes, sinkholes, needless to say, are usually not a welcome addition to any property. Therefore, if you live in an area or state, such as Florida, where sinkholes can occur, make sure that your home insurance policy covers sinkhole damage. Reasons Sinkholes Occur Sinkholes can occur [...]
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A Swimming Pool: Extra Protection that is Expensive While a swimming pool is an enjoyable addition for most people, the structure can also increase your home insurance cost as well. Policies for pools are written separately and usually provide protection that is equal to ten percent of your home’s value. So, if you currently live in a $180,000 home, coverage for the pool will run around $18,000. Enforce Pool Safety Rules Needless to say, to [...]
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A Pool Can Significantly Affect Premium Coverage Home insurance is meant to protect you from natural disasters, such as windstorms and earthquakes as well as fire, flooding, theft and liability. Because a swimming pool increases the risk of liability, a swimming pool on your property can also significantly affect the cost of your premium. Pool Injuries Often Result in Extensive Medical Treatment and Expense That’s because installing a pool or having a swimming pool on [...]
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Florida Real Estate – Difficult to Insure While Florida may go by the nickname “The Sunshine State,” it’s downright difficult to obtain home insurance in Florida, given the state’s susceptibility to natural disasters. In fact, the “Sunshine State” is vulnerable to over half of the listed perils for home insurance, including flooding, hurricanes, tornadoes, wild fires, and excessive heat. Needless to say, if you own an older home on the coast of Florida, you can [...]
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When your Home is Damaged by a Natural Disaster, You will First Need to Phone your Insurance Agent as well as Contact Him in Writing When you take out home insurance, it’s always a good idea to familiarize yourself with the contract. Therefore, make sure you fully know what your insurance company will require should you need to file a claim. Basically, if your home is damaged, say, by a natural disaster, you will first [...]
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What your Home Insurance will Cover if a Tree Falls on your Roof While trees add to the overall value of your real estate, they can also be a source for claims if one of them comes tumbling down after a tornado or rainstorm. So, what does your home insurance cover if this mishap should occur? If a tree damages your roof or the roof of a structure, such as a storage shed, on your [...]
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