Your house insurance can help you a great deal in case something happens to your home. However, a lot of times it turns out the other way. How do you make sure that you are really insured? Here are ways for you to defend yourself and get what your house deserves:
- Coverage appraisal. Make sure that your house is not underinsured. Studies reveal that a lot of homes in the country are actually underinsured by around 22 percent. You can go to accucoverage.com to compute the replacement costs of your house.
- Dry run of your claims. Make sure that you have a very good idea of how much your house is worth. Do an inventory of all the items of your household items. You can do this in different ways. You can keep a list, or make a video while narrating. You can go to knowyourstuff.com to get help in making a catalog of your items.
- Gap filling. Make sure that you have a good coverage of your house. Your home insurance policy may lack some coverage, such as cash value or replacement cost. Take note that the “extended replacement cost” type of coverage gives better protection to your house and the items in it.
- Your house’s condition. Protect your house insurance by paying for claims that cost $1,000. You can also ask if some repairs would help you have a better claim.
- Risk reputation. Make sure that you have maintained a good reputation in terms of your credit and other financial obligations. You can inquire in some offices and websites about how you can improve your scores and your reputation.
- Insurance company. Always check if your home insurance company is still doing well. You can go to ambest.com to see the status of your insurance company.
- Other insurance companies. If you saw that your current home insurance company is already exiting the market soon, then you can start looking at other carriers. However, you have to make sure that the cost that would be incurred is reasonable and would not be such a burden to you financially.
- Existing costs. You can reduce your premiums by up to two-thirds when you increase your deductible to $1,000, get your auto insurance from the same carrier, and keep your record claim-free.
Make sure that you have your records handy so that you would be able to file a house insurance claim in case disaster strikes your house.