April 20, 2018

NC Homeowner’s Insurance Strategies That Will Help You Find The Right Policy

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Whether you’ve just purchased a home or are looking to update your policy, it’s important to have good homeowner’s insurance. Homeowner’s insurance protects you and your home from things like theft, natural damage, and accidents. In this article, you’ll find a selection of tips that anyone who needs homeowner’s insurance should know.

Check the financial stability and health of the insurance company that you are considering for your home insurance policy. You want to make sure that they will have the money to pay the claim if you find yourself in the position to need to file one. Do this quarterly after you open the policy as well.

Make sure you have enough coverage for the contents within your home. Most of the time regular homeowner’s insurance will be enough to cover your contents if something happens, but if you have really valuable items, you may want to buy additional coverage for those items or increase the content insurance.

Your jewelry, electronics, and other valuable items will be very difficult to replace in a homeowner’s insurance claim if you don’t make the effort to document each of them with photographs. This may seem like a lot of work, but only if your insurance company knows exactly what’s been lost, damaged, stolen, or destroyed, will you be able to demonstrate what the fair replacement value of those items would be.

To help lower your homeowner’s insurance premium cost, lower the amount of your outstanding mortgage. The less money you owe on the home, the more the insurance company figures that you will feel pride of ownership. Showing your insurance agent evidence of clean-up, major repairs and improvements can help lower premiums, as well.

When choosing a home owner’s insurance policy, look into the quality of the company. The company that holds your policy should be able to back it up. It is good to know if the company that holds your policy will be around to take care of any claims you may have.

If you can, pay off your mortgage to reduce your home owner’s insurance rates. Insuring a home without a mortgage or lien often results in lower premiums. Insurance companies consider a homeowner without a mortgage to be a lower risk in many cases and make certain assumptions about how well-maintained the property is when there is no lien.

For the biggest reduction in your homeowner’s insurance premiums without sacrificing coverage, raise your deductible. Raising a $500 deductible to $1000 can net you up to a 25% reduction in homeowner’s insurance costs. Your premium savings will allow you to easily save the additional money needed to satisfy the deductible in case of a claim.

Homeowner’s insurance is essential for anyone who wants to own their own home. Now that you’ve read our tips, you have information you can use to find a great homeowner’s insurance policy. Don’t think of your insurance policy as a waste of money. Think of it as a way to protect one of your most valuable assets.

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