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Homeowners Insurance, What To Lo For

Homeowners insurance, what to look for

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Homeowners Insurance, What To Look For

Choosing the right level of insurance cover, or even a reputable provider of homeowners insurance for your home in 2016, is no easy task. There are plenty of US insurance companies that will happily have your business. So where do you start?

As the economy tightens and increases the squeeze on the family budget, its even more important to consider the cost of homeowners insurance before making your final decision, so its a logical place to start your search. But theres more to consider than just price itself.

Once youve found options that fit your budget, make sure you look for the following offerings to be sure youve got the right product for your needs.

What Does The Home Insurance Cover?

Does your insurance match your requirements? Do you live in a flood-prone area? Are bushfires a regular occurrence? Evaluate your needs then be sure you understand the following options that may be provided by insurance companies:

Dwelling Coverage: This is the part of your policy devoted to the repair or rebuilding of your home if damage is the result of a covered loss.

Liability: This helps protect your assets and will cover some lawsuit costs should you, a family member, or any person be injured on your property.

Other Structures: Covers the cost of repairing or rebuilding detached structures such as garages, sheds, etc.

Personal Property: A component that covers your personal effects such as clothing, electronics, furniture, etc. that are damaged or destroyed by a cause covered by your insurance.

Loss of use: When your home is damaged to the point that you are unable to inhabit it and require temporary housing while it is being repaired, then loss-of-use cover will help pay your housing and living expenses.

Guest Medical: In an instance where a person is injured on your property and they dont want to sue, then guest-medical covers medical bills and related expenses.

Do They Offer Additional Protection?Some examples of additional coverage items include:

Identity theft: Credit card fraud, stolen identification, and recovery of lost documents.Optional personal property: Items not covered as standard, and which you can include to your insurance policy.Water damage: Caused by sewer or storm-water backup.Natural disasters: Flood, earthquake, wind, and fire protection (if not included as standard).

Does The Insurer Offer Discounts?Theres a variety of discounts on offer out there, and failing to take advantage of them is as good as leaving money on the table. Make sure you compare discounts on offer, some of which include:

Multiple-Policy Discount: Can you combine an auto, life, or other type of insurance policy to get a discount?Protective Device Discount: Do you have a security system, fire alarms, or other security devices that can potentially provide you a discount on your homeowners insurance?Claim-Free Discount: Do you qualify for a discount if you havent filed a claim?

Group Savings: Some memberships or affiliations with certain businesses make you eligible for a discount. Be sure to ask when speaking to your broker.Newly Purchased Home: Discounts if you recently purchased your home.New/Renovated Home: Discounts if you recently renovated your home.

Selecting an insurance company that aligns with your discount eligibility can result in major savings, so be sure to consider discounts when looking for a homeowners insurance provider.

When looking for homeowners insurance in 2016, theres no one solution that fits all. Competitive pricing is important, but whats most important is that youre covered should an incident occur.

Make sure you look for homeowners insurance that covers you adequately, and be prepared to pay a little extra to ensure your peace of mind.

Website: http://michaelputnam.com/Michael Putnam [email protected]: http://www.thesimpledollar.com/best-home-insurance/http://michaelputnam.com/homeowners-insurance-what-to-look-for/

Questions? Comments?We are happy to help you!