3/18/2010

MoneyMatters101.com Home New Home Buyers Air Purifiers Appraisal Asbestos Health Risks Burglary Prevention Carbon Monoxide Fumes Controlling Insects Disaster Kits Earthquake Tips Emergency Evacuation Emergency Water Supply Escrow Instructions Formaldehyde Risks Germs In Your Home Home Owner Homeowners Insurance Home Protection Plan Home Protection Rebate Homestead House Fires Indoor Health Hazards Lead Poisoning Making An Inventory Mold and Mildew Natural Disasters Organize Documents Radon Gas Health Risks Refinancing Your Loan Remodeling Your Home Safety Tips For The Home Spend Your Equity Wisely Tips For Buying Insurance Upgrading The Interior Upgrading The Exterior Watching Your Home Winterizing Your Home Links Email Us Real Estate Property Save On Utility Bills Political Issues	Tips For Buying Homeowners Insurance The largest single most important investment most people will ever make is buying a home. An important part of home ownership is protecting your property to the best of your ability. In order to protect your property, the right amount, and type, of insurance coverage is imperative. A homeowner needs to protect his family, his home, and his possessions in a way that makes financial sense. In many cases, when an unforeseen event happens, homeowners find themselves with too little insurance or coverage that does not apply to the event. It is a good idea to to take the initiative to read and fully understand what an insurance policy covers and what it does not cover. Typically, a homeowners policy insures the dwelling, other structures on the lot, and the contents in those structures such as furniture, jewelry, antiques and collectibles, computers and software, firearms, dinnerware, clothing, money, and other personal property. The policy will usually cover fire and smoke damage, theft, water damage, vandalism, and personal liability claims such as injury and medical payments to others who are injured on the property. What the policy will probably not cover are earthquakes, floods, mold, and general wear and tear. Most insurance companies offer earthquake and flood coverage along with other protections, but as a separate coverage for additional premiums. There are certain things that you should do when buying a homeowners insurance policy: Shop around for the best policy that fits your needs. Always compare prices, service, and coverage. When completing your application for a premium quote, have the most accurate information for the insurance agent or broker. Before signing an application or finance agreement, read all documents and make sure you are getting what you think you are getting. If you have reservations about something, ask questions and don't sign the document until you fully understand it. Keep a copy of all signed documents for your records. Put them in a safe place. When you get your policy, read over everything to make sure that the coverage, premiums, limits, and all other information is correct before you file the policy away. Read and understand your rights and obligations and also the rights and obligations of the insurer under the terms of the policy. Keep an updated and accurate inventory of your personal possessions. List the dates of purchase, the price, and take pictures and videos of your home and property. Keep your records in a safe place, and update your inventory and records periodically. Preparation for unforeseen losses is a homeowner's best game plan for his property and for his family. A good homeowners insurance policy can help minimize the impact of losses due to accidents that cause damage and/or personal injuries and it gives the homeowner a reasonable degree of confidence that if something does happen, he and his family will be protected.	Featured Book Advertise on MoneyMatters101.com
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