Home Insurance Protecting Your Biggest Asset

Home insurance is a must if you own your home, but what do you need to know prior to purchasing insurance? Some of the most important factors are as follows: replacement value of your home, your \”risk\” rating, whether or not you are located in a flood plain and types of discounts you may be eligible for.

Your home should be insured for the amount of replacement value, but how do you know what that amount is? A builder should be able to assist you. For a small fee, they can go through the house and provide an estimate. Make sure the builder takes into consideration any special moldings, plaster wall treatments, stone work for fireplaces, etc when he is making the final estimate. Otherwise, the costs will be figured using a modern, low cost alternative.

Your insurance premium is based on \”risk factors\” that include such things as your occupation, cost to build in the area, where your house is located, what you own, and how you live. Do you have a family dog? What breed is it? Does your house have a pool? Do you have a trampoline or hot tub? Is your house located in a storm zone or a high crime area? Certain materials can reduce your premium such as stone or brick in high storm areas, but the cost of these materials directly affect your premium since your insurance will be used to rebuild your house in the event of a claim. These factors are all considered when determining your premium.

Your basic home insurance policy doesn’t necessarily cover all claim situations. For instance, if you live in a flood plain, you will need an additional policy to cover floods because most home insurance policies do not cover flooding. Another example would be additional policies required for earthquakes in California or hurricanes in Florida (although most policies in Florida contain a separate rider for hurricanes at a higher deductible).

Many home insurance policies offer discounts toward the premiums for various home upgrades. For example, in areas that are prone to windstorms, discounts are offered for storm shutters, reinforcing your roof, or other improvements to your home to help withstand storm damage. Discounts are also offered for burglar alarms, smoke detectors, and installing dead-bolts. Larger discounts are offered for monitored sprinkler systems, fire alarms, and burglar systems. Some states even offer discounts for citizens over the age of 55 and for policy holders that have remained loyal for at least 6 years. Be careful though because the amount of the discount may not be enough to offset a better price from a different company.

Make sure when the time comes to purchase a new house that you consider the cost of the home insurance. Shop around and compare prices. Also, check out the company that you are going to use. Determine the time that the company takes to pay claims and the overall stability of the company. No bargain price is a bargain if the company isn’t stable enough to pay your claims. Do your homework and you can get very affordable home insurance.

Home Insurance For People With Disabilities

Insurance is something that we get to help us prepare for the future. Due to the number of insurance policies and insurance companies that are present, people often feel confused about what to get. Sometimes, we might go through accidents that could change our life. There are times that we have to change our environment to cope up with our disabilities. Luckily for us, the technology of today has made it possible for us to gather equipment and tools that will medically help us even if we are just at home.

Customizing our home might be expensive, especially if you need to change a lot about your home. Having Columbus Ohio insurance may be able to help us with our problem. They can help you with the charges that you have to pay because of the changes you have to make in your home. One of the common things that you would have in your home is a wheelchair. Although there are places in your home where your wheelchair can go to without much effort, there are still other parts that are not readily accessible to people with wheelchairs. To change this, you need to install ramps or lifts to make your home friendlier to the wheelchair users.

Some of the changes in your home could be covered by the ColumbusOhio insurance companieswhile others may not be covered. It is important that you inform the different companies of the changes you made in your home. The insurance companies could cover what your home is previously made of. Some of them may not cover these specific changes especially if you did not report it to them. The insurance companies need to see what changes you have made and they could decide if they will still cover this with your previous home insurance. Some insurance companies will ask you for an additional fee for the changes you made.

To be able to make sure that they cover any loss or damage in your home, you have to make a detailed list of the items that you have in your home. You have to make an estimate of the items so that they could also estimate the replacement cost. Some people could also use pictures in addition to the list of the items that they have. A wheelchair is expensive and loss or damage to it would also be expensive for the insurance companies to replace.

Your home is not the only thing that needs to be insured. Your caretakers should also be insured and there are some professionals that you could hire that already have their insurance. When a care taker experiences an accident in your home, they could sue you. It is important that they also have insurance so that their accident is covered. The next thing that you have to do is to know whose insurance is going to cover the accident. The different insurance companies have different policies regarding these accidents. You should clearly inform yourself about the different policies that your insurance company has so that you know when you are covered and when you are not.