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How much is my house and its contents worth?

July 10, 2010 Information / Tips / Updates
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Before starting the insurance plan, agents will assess the value of the house first, such as its age, the area where it is on, and how it is built, but you can have your own estimate on that thing. Also, you will have to assess the worth of possessions in the house itself.

Remember that you don’t need to insure your lot since nothing will be destroyed if a fire happens or what not, just your house and its contents. And if you are to renew your plan, try to reassess your house and possessions – maybe the area became popular, or you bought something very expensive, you may need to pay a higher plan for you to insure these possessions or if you’ve sold something, you may be actually paying a lower plan for your household.

Homeowners Insurance Shopping Update

March 10, 2010 Tips / Updates
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Buying homeowners insurance for the first time? Renewing your policy? Trying to increase coverage? Thinking about filing a claim?

Think again.

Obtaining and retaining homeowner insurance isn’t what it used to be. Moisture and mold, mounting natural disasters, and perhaps even California’s fires could play a role in your coverage and what it costs.

Experts are advising a staunchly proactive approach to keeping your most valuable asset well protected from damage or loss.

Read here (RealtyTimes.com) for the most current advice for acquiring and retaining insurance for your home.

Home Insurance – Helping Recovery

January 13, 2009 News Updates / Updates
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californiawildfiresPeople who have suffered greatly due to disasters such as the recent California wildfires are getting help from home insurance providers as they are reimbursed for the cost of rebuilding their burnt homes. Many who fail to get ample coverage lost everything and the only help would be from the government which provides loans on such events to allow people some cash for rebuilding. The cost of the fires was estimated around $1 Billion and that amount is what insurance firms had to pay for. The notable difference is the actual smaller cost of the wildfires though they looked devastating, but compared to Katrina which cost insurers $41 Billion dollars, they got off easy with the fires.
Fire insurance is an integral part of basic insurance policies but more coverage can be purchased to expand or increase the amount you will be getting from the insurance company. This will entail more paymets but the few additional dollars wouldn’t matter if you lost everything and can be your way to get life back to normal as it was. Though rebuilding is truly an option, some people suffer more from the trauma and chose to relocate, rebuilding their homes in a different environment that does not remind them of the tragic events that burned through lives.

Your Home vs. Mother Nature

December 15, 2008 Information / Updates
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The extreme weather of today has never been heard of in the past couple of years. But scientists are seeing this as a normal part of the earth’s weather cycles that says extreme heat is always sure to be followed by extreme cold. Many other scientific studies are underway to develop technology and better homes that would be able to withstand the weather extremes associated with global warming.
The Insurance industry has initiated several studies to determine the effects extreme weather has on our lives and belongings that may necessitate changes to insurance policies. The amount of cash insurance pays out has increased with storms and tornadoes increasing in frequency and strength, leaving behind devastation and death. Natural disasters are responsible for the sharp increase of insurance premiums and homeowners are reminded to do their part to avoid inconveniences when filing for claims. Assure that building codes are followed and adhered to so providers cannot deny coverage. Schedule inspections so they can make the necessary adjustments expanding coverage and getting you the peace of mind you desire.

Estimating Your Home Insurance

August 22, 2008 Information / News Updates / Tips / Uncategorized / Updates
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Image Source: www.vacationhomeinsurance.com
The value/cost of home decides the major part of amount to be paid for insurance of home per month. Therefore one has to keep a track on this factor as it is the most significant factor, while one is in search for the right home. The more the value of home, the more you have to pay as the premium for your insurance. Another factor that is the type of coverage will also determine the amount for payment for premium. For replacement insurance with whole home insurance, you will have to pay more for extra coverage.

But some part of home insurance you can manage in terms of cost. It depends upon the type of home that you wish to buy. Location is primary concern. If house is positioned in a flood plane, then you require getting flood insurance done.

The house itself can give you an idea of the amount that you one has to give for home insurance. The age of house and the age of appliances in home such as furnace, water heater etc. all adds up into the cost of the insurance. The older your residence is the things are more likely to go wrong. This will ultimately affect the worth for insurance. The kind of exterior plays an important factor as well. You can opt between brick siding or regular siding, but the cost of insurance is raised a little while insuring a house with brick exterior.

U.S. Homeowners Urged to Update Home Insurance Policy

June 1, 2008 Updates
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RISMEDIA, Dec. 18, 2007-After a six-month study, Americas Watchdog and its Homeowners Consumer Center have just released results showing that most Americans are under insured with respect to replacement cost related to personal contents in their home. Even worse most U.S. homeowners have no clue as to what their homeowners insurance policy even covers, if there were to be a loss. Americas Watchdog is urging all homeowners to contact their insurance agent to review the coverage aspects of their homeowner’s insurance policy.

The homeowner’s insurance survey was conducted with more than 1,000 US homeowners participating. This group covered every region of the U.S. The Homeowners Consumer Center discovered the following when it came to homeowners, and their homeowners’ insurance policy:

Question: When is the last time you checked your homeowner’s insurance policy for needed updates?

Within the last year—— 5
Within the last three years ———72
Not since the home was purchased——- 1042

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