You’re one step closer to your dream home, but you’re stumped on what to get homeowner’s insurance for it. It seems like an easy topic, but there are actually many factors that you should consider when choosing a risk-based policy: including the type of items in your house, the legalities involved with living there and the size of your house.
It’s important to start thinking about your needs as a homeowner now. At some point, you’ll need to purchase homeowner’s insurance. The maverick among us might consider skipping this step and cutting corners like my buddy Brad once did. However, it’s not a good idea to skimp on coverage because it might not be enough in the event of a fire or other major catastrophe.
If you want to get the best rates, talk with a local agent about your options. It’s important to weigh what you want with how much you can afford. Your agent should be able to provide several options based on your location, value of your home and the amount of coverage you’re seeking.
If you’re looking for recommendations, here are three consumer-tested tips to finding a homeowner’s insurance lawyer:
1: Get recommendations from friends, family and co-workers.
- Check out online reviews at website like Yelp or Angie’s List .
- Speak to your insurance agent about who they recommend. Familiarize yourself with the following terms:
- Replacement Cost: This means your policy will cover all of the costs of replacing, rebuilding or repairing your home in the event of a loss. The amount covered is based on the cost of materials and labor at today’s rates, not what it would have cost years ago.
- Actual Cash Value: This means you will get reimbursement for what you originally paid for personal property such as electronics and furniture.
- Replacement Cost: This means you will pay for the cost of replacing or repairing your home in the event of a loss.
In addition to having coverage that is adequate, it’s important to know just what that coverage should be. We’ve put together a number of questions to help you think about your needs as a homeowner. Keep this checklist handy when talking with any insurance agent:
What to include:
- Exterior: the home’s exterior is protected by this policy.
- Roof: this protects your house from normal wear and tear, hail and wind damage and wildfire.
- Furniture, valuables and personal property: Covers valuables in your house that are stolen or destroyed by fire or other causes.
- Covered items: This includes items such as your car, furniture and electronics that are in your home.
- Valuation: It’s important to consider the value of your most important items at different stages of your life, including when you’re married, have children and plan to retire.
- Liability: You can choose to purchase additional liability coverage if you have a world-class art collection or if your dog has bitten anyone.
- Medical payments: This pays for medical bills and certain other expenses for people who are injured in or around you home.
RIGHT NOW, What Can You Do About HOMEOWNERS INSURANCE LAWYER
Homeowners insurance isn’t just a policy you purchase from your insurance provider, or the thing that protects your home and possessions against fire, windstorms, and other potential disasters. It’s also an important document that may impact your life in many ways. This is why it’s so essential for you to have a good understanding of what the law says about homeowners insurance before you purchase one.
insurance companies can use loopholes in these laws to force homeowners – even when they’re not responsible – to pay for losses caused by a disaster.
- Your Homeowners Insurance Lawyer Can Help
When it comes to understanding homeowners insurance, you need more than just research. You also need help from someone who knows their way around the law.
- Here’s What You Can Do
RIGHT NOW, what can you do to get a better policy?
- Find Out If You Qualify For Exemptions To Your Homeowners Insurance
“The first thing to ask yourself is whether or not the current structure of your homeowners insurance meets the statutory requirements.”
- You Should Also Consider How To Protect Yourself If The Value Of Your Home Increases Or Decreases
“As the value of your home increases, the insurance provider may attempt to increase your insurance rate. Make sure you protect yourself in case this happens.”
- And If You Accidentally Overpay A Deductible Or Premium, You Can Get Your Money Back
“In addition to having the appropriate amount of coverage, you should always keep track of deductible and premium amounts. If you accidentally overpay a deductible or premium, it’s important that you follow the appropriate guidelines so you can get your money back as quickly as possible.”
- And You Can Learn How To Avoid Some Common Mistakes That Can Negatively Impact Your Homeowners Insurance Rates
“A few common mistakes that can negatively impact your homeowners insurance rates include:
· Claiming the wrong loss type (i.e., a theft claim for a damaged window).”
