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Different Types of Homes Mean Different Types of Homeowners Insurance

There are quite a number of factors that can affect homeowners insurance. Not every home is the same so there will be mitigating factors capable of impacting insurance premiums. An older home likely will cost more to insure than a newer one. Other construction factors can tie into the the cost of homeowners insurance. A home made of brick might have a significantly different premium than one that has aluminum siding on it. Once again, different homes will present different factors that can contribute to the overall cost of the insurance.

There are scores of other factors that can tie into the cost of homeowners insurance. The location of the home would be among the most important. A home near the ocean in a state known for its hurricanes is probably going to have to pay for a high premium.  A home in the California desert would not have to deal with as many weather issues so the cost would be much lower.

Homes that take steps to reduce risk will also find their premiums potentially decreased. Homes that have high end fire and burglar alarms might not have to pay as much for insurance for the obvious reason. Those wishing to cut down on insurance costs should look into alarm systems such as these.

Posted by Anita Young on June 18th, 2013 :: Filed under Homeowners Insurance Information

Payments on Deductibles Can Lead to Surprise Savings on Homeowners Insurance

brokerSome might be quite surprised to discover that homeowners insurance policies will come with a deductible. For those not familiar with the term, a deductible would is the amount not covered by the insurance company. Usually, this would be a set first dollar amount on the payment. For example, if the deductible is $250, and $275 dollars of damage is done to a home, the insurance company will only pay $25. This might seem outrageous, but once the $250 deductible has been paid, then the remaining amount claimed to the insurance company will be covered. So, if another claim is made for $1,500, then there will be no requirement for a deductible to be paid.

More realistically, damage to a home will be much more costly, so with a $3,000 claim and a $250 deductible, the insurance company will pay out $2,750 and the homeowners would only have to pay the aforementioned $250.

Since the likelihood that damage will befall a home, many will opt to accept a much higher deductible of upwards of $1,000 and pay a much lower monthly premium. This can be the better and more economic option many will find more appealing.

Posted by Jessie Milam on June 6th, 2013 :: Filed under Homeowners Insurance Information

Facing Some Realities About Homeowners Insurance

Saving money on homeowners insurance might be a wise strategy. There is no reason to pay more for the same, adequate coverage if a better deal emerges. Of course, the operative point here is the coverage does have to be adequate. Acquiring cheaper coverage that does not safeguard your home will be of no value whatsoever. In fact, the decision could end up devastating you financially.

And you certainly do not want to get involved with a homeowners insurance broker that is dishonest or self-serving. There are such characters out there in the profession, although their numbers are far less than alarmists would have most homeowners believe.

Fiscal Realizations About Homeowners Insurance

There is not a single person on the planet that wishes to spend money on insurance. No matter what type of insurance we are talking about, people do not like to spend money on it. They do realize the importance of having insurance to protect their health, auto and home which is why they will acquire a policy. They might not life the premiums they pay, but they do realize they benefit from the coverage it provides.

Those wishing to gain an insight into how they should approach acquiring quality homeowners insurance should bookmark . This resource might be one of the best websites on the subject to refer to. The site should not be the only resource you check out though. You do need to read, reread and review as many (credible) sources on homeowners insurance you come across. There is good reason for this. Unless you truly understand what is required to purchase the best homeowners insurance policy, you will not be able to acquire the right one. Your home is the money important thing you could ever own. You positively must protect it financially and a good insurance policy will contribute to this result.

Keeping Insurance Updated

It is also worth pointing out that what might have been a good insurance policy for a certain amount of time does run the risk of outliving its usefulness. In other words, a better insurance policy just might make itself available. The policy or, more accurately, the company that underwrites and offers the policy, will not be seeking out homeowners. Well, they will not do so in a direct manner. Indirectly, they will make their presence known in the form of advertising. Those that own a home would do themselves a favor and follow up on the advertisements they come across. By following up, it is meant they should perform research into the policies that are available. This way, they can find a better policy to replace the current one they have purchased.

These musing are all something to ponder. Pondering, however, is not something a lot of homeowners do. That is unfortunate because buying a home and acquiring a mortgage is not the end of all responsibilities. Rather, it would make perfect sense to continue learning about how to save money on a home and to also ensure it is effectively protected.

Posted by Anita Young on June 5th, 2013 :: Filed under Homeowners Insurance Information