Your First Line of Defense: Home Insurance

Finally closing that deal on your most coveted home and completing escrow agreements is like finally living the dream that you’ve been waiting for all your life. However, it doesn’t just end there. To protect your investment, homeowners should have a good home insurance coverage to protect their homes for whatever may happen in the future.

A wise and responsible homeowner would provide effort and resources in this area and not just settle in some cheap home insurance that will not give you any protection at all.

It pays to know the details of your home insurance coverage. Knowing this would spare you from the hassle and embarrassment of erroneous claims, and would prepare you from filling up the deficiencies in your home insurance that you think should be included. Acts of God (floods, earthquake, and tsunami) are usually not covered including war, terrorism or even a nuclear blast. If you think your home location is prone to such (floods, earthquake), you can have this included in your home insurance for a certain premium.

First time homeowners or those contemplating purchasing a home should get coverage and compare home insurance policies offered by several servicers. Getting the best deal from this assures you of proper protection for your homes. Items to check for in a home insurance quote should include coverage for damages caused by theft, fire, lightning, smoke, frozen pipes, ice and snow.

Check for coverage that includes liability claims, payments or medical disbursements for third parties, and costs of legal actions if the situation arises that a lawsuit is brought against you. Liability coverage depends on your circumstances so weight this in when you finalize your policies with your agent.

Some policies have limited coverage for high-priced or valuable items like diamonds, precious stones or any other items with high monetary value. If you need these included in your policies, then the items should be properly appraised as coverage will be based on appraised values. Check also for reductions in premiums due to extra security amenities in your home like alarm systems and proximity to fire hydrants.






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