01 Mar 09 Home Insurance: Why Do I Need It?

Have you seen a bird and her nest? It’s beautiful, isn’t it? And how beautiful does this sound: in a garden, there is a sweet little bird who lives happily in her nest with her one fledgling and two nestling; every morning the bird goes out and brings food that the family shares peacefully followed by the bird reading a story to her children and then they retire to sleep, next morning the sun rises and the bird goes for food again? Good, isn’t it? One fine morning the bird wakes up, gets ready, kisses her children good bye and leaves home and she returns back in the evening singing, and with tasty food to share with her kids, but to her surprise she finds her home missing. She looks for her children but they were not there; she sobs and sits lamenting on the empty branch where she had her nest. Actually, when she was away, the gardener felt that her nest is ruining the beauty of his garden, so, he had it removed.

That was the story but this cannot just happen to the bird, this can happen to you as well. Agreed there isn’t any gardener around to pull down your house but there are enough burglars, natural calamities, and even man-made disastrous to threaten the existence of your sweet home. And of course, you wouldn’t want your story to go the bird’s way, even if the magnitude of the incidence is not as great as it was in the story.

Home Insurance protects us against such unfortunate accidents, I wish if the bird in my story had the option to take a home insurance.

Home insurance or homeowners insurance (as it is typically known) is a package policy. This kind of policies covers not only the damages done to your property but it also covers the damages done by your property to other people. It also covers the damages done by members of your family or your pets.

Home insurance provides coverage against most of the disasters but there are a few that doesn’t qualify for coverage in a home insurance. Generally, the damages done by flood, earthquakes and mishandling of the property are not covered in a home insurance. To cover against these calamities you need to take a separate policy. Please go through the list provided below to know in detail about the calamities covered by a home insurance.

Buying a home insurance will cover your home against the following disasters:

Theft
Glass breakage
Vandalism/malicious mischief
Smoke
Fire or lightning
Explosion
Volcanic eruption
Windstorm or hail
Vehicles
Aircraft
Riot or civil commotion

There are some insurance policies that also provide protection against the following:

Falling objects
Accidental plumbing discharge
Weight of ice, snow or sleet
Freezing of plumbing
Rupture of steam or hot water heating system, air conditioning systems or water heaters damage from artificially generated electricity.

While hunting for a home insurance, you will come across many policies that don’t offer any coverage against damages done by flood, earthquake, war, terrorism, nuclear accidents, etc. You should be careful about which policy to take as different policy offers different benefits and not all policy covers everything. You should get into the habit of reading the fine prints and getting things in written from the person who is selling you the policy. Don’t go by words, word sells a dime a dozen.

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17 Feb 09 How To Buy a Home Insurance Policy

Most mortgage lenders require home insurance before they will give home buyers a loan. Even if a mortgage company does not require a home insurance policy, it is always a good idea to have one. What would you do if your house caught on fire or someone broke into your home and stole your valuables? If you don’t have home insurance, then the only thing you can do is to replace the stuff yourself, no matter how much it cost.

Choosing a home insurance policy is important because they are not the cheapest things and you want to make sure that you have the best coverage that suits your needs.

Be sure to shop around for any home insurance policy before you sign any contract. You should get quotes from at least three different insurance companies to compare them. Some insurance companies will offer certain discounts for multiple lines of insurance or any affiliations that you may have, so don’t forget to ask about these discounts when shopping for insurance.

Always go with an insurance agent that you can trust and that has good customer service. You don’t want to have to deal with an unreliable insurance agent if anything ever happens to your home. Ask friends and family members who they use to see if you can find a good referral for an agent.

Review any home insurance policies very carefully before you decide to buy one. Look for anything that you may not need in the policy or be sure that everything that you do need is included. Also, pay attention to the fine print as there may certain restrictions or clauses on certain aspects of the policy. Never just sign a contract for a home insurance policy without reading it first.

Decide how high of a deductible you want for your home insurance. The deductible is the set amount that you pay for any claims on your policy before the insurance will start paying. The higher the deductible, the less money that the insurance policy will cost you. Decide how much money you can afford for your deductible if you ever have to use.

If you have valuable collections or valuable jewelry, make sure that you itemize the cost of these items on your insurance policy. Be sure that the exact make, model and any other information is cataloged on them in case of any damage to them or if they are stolen. This will make it easier to claim the correct amount of money of how much they are worth from the insurance.

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Tags: Affiliations, Buy Insurance, Clauses, Family Members, Friends And Family, Good Customer Service, Home Buyers, Home Insurance Policies, How Much Money, Insurance, Insurance Agent, Insurance Companies, Insurance Cost, Insurance Policy, Mortgage Company, Mortgage Insurance, Mortgage Lenders, Referral, Suits, Valuables

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01 Mar 09 Home Insurance: Why Do I Need It?

17 Feb 09 How To Buy a Home Insurance Policy

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