Monthly Archives: May 2016

Some Home Insurance Tips

There are probably as many different home insurance tips as there are varieties of home insurance. Top of the list of any helpful tips, therefore, is likely to be the importance of searching as exhaustively as possible for the particular insurance package that best suits your own needs and circumstances.

Fortunately, that is something made so much simpler these days by going online and using one of the several search engines that compares not only prices but also the features of the cover offered by a whole selection of different insurers.

Home insurance typically includes both buildings and contents insurance, so here are some home insurance tips based on the possible variations between the different packages that might best suit your own needs:

Buildings insurance

  • What’s covered exactly?– as you’d probably expect, most policies cover the permanent fabric of your home, especially to the extent that this ensures its structural integrity. But some policies also extend cover to such essential fixtures as bathroom and kitchens fittings, whilst others might cover boundary walls and fences or garages and sheds, too;
  • Risks– once again, most policies will typically cover a core set of risks – such as fire, flooding, subsidence, earthquakes, storms, impact by vehicles or falling branches and tress, and vandalism or malicious damage – whilst additional elements are reserved as optional extras (for which you pay an additional premium);
  • OptionsĀ – examples of some these optional extras might include accidental damage to fixtures and fittings within the home; compensation for the cost of alternative accommodation in the event of the home becoming uninhabitable following one of the insured events; and public liability cover, giving you indemnity in the event of third party claims from those injured whilst on your property or those whose property is damaged whilst visiting you or who are in the vicinity of your home;
  • Excesses and discountsĀ – rather like your motor insurance policy, home insurance policies also include compulsory excesses (the first amount of any claim for which you remain responsible). The difference here, however, is that the excess is likely to vary according to the type of building insurance claim you are making. Some home insurance policies also give you a “no claims” discount if you have not made a claim on the insurance in the previous year.

Contents insurance

  • What’s covered?– if it’s not an integral part of the fabric of your home, it’s likely to be covered by most contents insurance policies. The home insurance tips for contents insurance, however, probably feature even more variations in what is and what is not covered by any particular policy compared to another. Food in the house might be covered, for example, or tools in the garden shed, or even the family pet!
  • Risks– the contents of your home are exposed to the same set of risks as the building itself, with the addition of burglaries and theft (and the damage left in their wake). You might choose to extend that cover, however, to any accidental damage to your contents. If the policy does not already do so, you might also consider extending cover to those items which you frequently use outside of the home (a bicycle, for example, or a laptop or other portable equipment used at work, school or college);
  • Valuation and indemnity– the final home insurance tips for protecting the contents of your home relate to the importance of keeping your valuation of all insured contents fully up to date. If you are under-insured and the home suffers a major disaster, there might not be sufficient insurance compensation, of course, to replace all of your belongings. Keeping the overall valuation up to date like this is important whether you have chosen “new for old” cover (that replaces lost or damaged items at today’s replacement values) or “wear and tear” cover that deducts an element of the settlement amount to reflect the age and depreciation of the item or items.

 

 

 

Tips To Help You Reduce Your Rate

Direct line home insurance can be at a lower rate: This article is about other ways you can get cheaper rates. Don’t fail to take note of silly mistakes you’re advised to avoid as you apply these tips…

  1. It is more expensive and needless to insure the land on which your house is standing. Some folks spend much more than they should on home insurance on account of this mistake. You’ve made same mistake if you insured your home for the price you purchased it without checking the cost of the land it is standing on and deducting it.

For those who have mistakenly done this, call your agent and check your home insurance coverage again. Reduce your coverage to the worth of your home and its contents minus the cost of the land.

This implies that you’ll spend far less on home insurance. Bear it in mind that insuring the land your house is built on is real waste of money because it does give you any added advantage.

  1. Having window locks on each of your windows will help reduce your home’s risk of burglary. You will save even a lot more if you go one step more to get burglary-proof bars fitted on all of them. If you’re not one of those people who have a deep hatred for such, they’ll get you reasonable discounts. If you’re not one of those people who insist that having such makes them feel imprisoned in their own house, have them fitted if you want to lower your home insurance rates considerably.
  2. If your neighborhood has a neighborhood watch, that could fetch you some discounts. Most insurance companies offer discounts for this. Let your home insurance agent know if you have it in your community. It’ll be easier than you think to convince your neighbors to initiate one if they are told how much they’ll save in home insurance apart from the other advantages.
  3. The material you use in the construction of your home has much effect on your home insurance rate. Frame homes are more resistant to earthquakes while brick homes are more resistant to high winds. As a result, buying a frame home in the East will definitely cost you much more in home insurance. For those who stay in the West, they’ll spend more if they have a brick home. You’ll save a minimum of 5% if you use the right material for your home.
  4. Government home insurance policies could really be costing you more than what you can now get with private insurers. Some areas used to find it difficult to get home insurance coverage. Then it was just the government’s policy that could buy. The case is just different now as private insurers are beginning to cater for such areas.

Home Insurance Tips Some Facts to Note

Home insurance is a must have if you want peace of mind as a home owner or renter. Some policies are expensive and tend to be outside the reach of many home owners but on the other hand, there are time tested ways that will help you find affordable home cover deals that are comfortable with your income.

Most home insurance companies will provide cover for the home structure, contents and outdoor sheds.

The building insurance takes care of any damage to the home structure caused by storm, flood, fire etc. It also takes care of the repairs or a complete rebuild where applicable.

There are some damages that may carry limitations or are completely excluded e.g. damage due to old age, deterioration or subsidence.

The contents insurance takes care of furniture, fittings, clothing, ornaments and so on. In the event of theft or damage by either fire or smoke, the home contents policy takes responsibility for repairs and replacements.

There are some items in the home that may not be contained in the main policy but at the request of the home owner or policy buyer these items are included with additional cost. Items that fall into this class include rare jewelries, classic paintings etc.

There is also coverage for out buildings like gardens and garages. This coverage also protects the furniture outside the home. Be sure to study and research rates and services from many house insurance companies before buying your preferred deal.