7 Tips Every Homeowner Should Know About Home Insurance

The majority of homeowner’s insurance policies cover damage to a person’s home and possessions in the event of storms, fire, theft or vandalism. Jewelry is usually covered, but only to the amount the consumer initially signed up for. Homeowner’s policies exclude such things as earthquakes, power failure, war, nuclear hazards, government action, faulty zoning, bad repair or workmanship, and defective maintenance. Flooding and water damage are covered under certain circumstances. Consumers should research prospective insurance agencies before committing to a policy. This can involve reading reviews and considering recommendations from family and friends. Homes with working smoke detectors and burglar alarms can help consumers get lower rates, in addition to bundling coverage with other insurance policies. It is essential to report claims promptly because many insurance companies have a time limit for reporting claims. Finally, consumers should keep records that document everything that occurred during a loss, write down damages, and note what steps they took to mitigate the damages. | Read More