Cheap home insurance can mean limited coverage for yourself, your family, your house and your other possessions, so before accepting a cheap insurance policy, examine first what it covers and know why your premiums are low.
The adage too-good-to-be-true also applies in home insurance. An insurer cannot sell you a very low-cost policy and at the same time offer you complete coverage. There has to be some provisions in the standard house insurance coverage that were removed or revised so that they can reduce their liability and also reduce your premium.
One of these ways is through your insurance deductible. Your premium may have been reduced by 20 or 25 percent, but your deductible has been raised from $500 to $1,200. The deductible is your share of the cost when something bad happens to your house or a liability arises. Read more…
08 Feb
Posted by: Admin in: Home Insurance
Due to the current instability of the U.S. housing market, more Americans are choosing to rent the roofs over their heads. Nearly one-third of the nation’s population rent their homes. According to a survey conducted by insurance provider Allstate, of the 87 million renters (2008) only about 40 percent of them have a renter’s insurance policy.
Like homeowners, renters are at risk of having their property destroyed, damaged or stolen. Renters insurance can not only mitigate financial loss but also provide overall peace of mind. Standard rental insurance is relatively inexpensive, costing about $12 a month.
03 Feb
Posted by: Admin in: Home Insurance
When it comes to vacant home insurance, a good low cost solution does not exist in the United States. Vacant home insurance is 3 times to 5 times as expensive as regular homeowners insurance in most instances, and there is no way around this if you want a good policy.
Even “fire only” policies may be more expensive for vacant homeowners insurance than regular homeowners insurance and what are you getting, fire only!
There are certain factors that can get you the best rates possible for your vacant or empty home during the vacant home underwriting process. These are listed below