Home insurance is a necessary investment when you purchase a new home. It not only protects your investment, but it also helps to save you money over the long run. When you are getting ready to purchase home insurance, be sure you sit down with the insurance agent and ask questions. Once you understand how homeowners insurance policy works, you can quickly see how it can save you money.
During the course of your time in a home, it is inevitable that you will experience some kind of damage. Most people do not experience the stress of a tree falling into their home. But there are other threats against your home that can leave expensive damage behind.
If a major storm comes through your area ripping of roof shingles or tearing siding from homes, there is a good chance that your home will not be spared. Ice build-up from a major storm could cause water damage or structural damage that could leave you freezing if you do not do something immediately. Your home could also experience an electrical fire that could cause thousands of pounds in damage.
Your homeowners insurance is your protection against having to pay full price to have your home repaired. For incidents that are covered under your policy, all you would have to pay is your deductible to get your home repaired. Water damage, storm damage and fire are covered under most policies, and that protection could save you thousands.
One of the aspects of a homeowners insurance policy that people forget is that it also protects you from theft. This is why it is so important to submit an inventory of all of the items in your home to your insurance agent and keep a video record of the condition of the items in your home. With that information working for you, it is easier for you insurance company to protect you in case of theft.
Some theft items may need separate riders to be covered such as jewellery or expensive artwork. That is why it is so important to ask detailed questions of your insurance agent and understand exactly what you are covered for and what requires additional coverage.
If someone breaks into your home and steals your television, computers, video games and fine crystal, then your homeowners insurance will help compensate you for the loss and give you what you need to replace those items.
People often forget that a home policy also protects your belongings when you travel. If you take expensive clothing with you on vacation and that airlines lose your bags, you can contact your insurance agent to make a claim against your home policy.
When you get your homeowners insurance and car insurance through the same company, you may be able to enjoy a significant discount on both policies. That means that your home insurance policy can help you save money on your car insurance. Ask your insurance about bundling policies to get a discounted rate.
You should also consider investing in a security system for your house, as most insurance companies provide discounts for having an alarm system. Since your home is safe from the start, you’re less of a liability to insure. Since you’re a lower financial risk for the insurance company, they are often times willing to pass this savings on to you.
Your homeowners policy is an important way to protect your investment. But, under the right circumstances, your insurance can also help save you money.