5 Insurance Tips Every Homeowner Should Know

5 Insurance Tips Every Homeowner Should Know

It might sound pessimistic to cash in on future happenings, good/bad doesn’t matter. Everyone one wants to ensure their future for the sake of their family. No one wants their off springs to suffer dreadful days and life, hence we try secure that through investments.

Insurance agency sells their products based on the same philosophy, guaranteeing to secure your future with minimum investment.

Every insurer wants to sell his products by hook or crook. They will take all means to convince you about their product being the best, even playing with your emotions wouldn’t make them think twice. They make you think of future mishaps like car accidents, medical problems or emergency home repairs.

They say, selling is all about using human psychology, yes it is. Every time they use human psychology to fool you and sell you their products, and more oftenly this tricks comes into play for selling Insurance.

Though having an home insurance gives you peace of mind, relieving you from the stress of your house safety and prospect expenses. But be careful while choosing one for yourself.

Here are few key tips that you should remember while opting for home insurance:

1.The policy coverage

Some policies pay for the entire damage to your property and whatever you possess in light of mishaps storms, fire, theft or vandalism. Whereas, renter’s insurance also provides liability coverage when someone gets hurt on your property during any of these accidents and decides to sue you.

One bonus is that Homeowner’s insurance also covers the shelter costs, so you don’t have to pay huge hotel bills during your temporary dislocation from your house. And also pays for belongings out of your house if they get lost, though it’s only available with only few policies and you have to find out which.

2.Excluded from policy coverage

Knowing what your policy doesn’t cover even if you file a claim for it is to lookout before opting for the policy. Certain tricks might fake the promises that the policy claims ie, standard policies do cover water problems from above (Rain) is covered, but water from below (Sewer, ground flooding) isn’t.

Also, some policies exclude earthquake and other natural disasters from the coverage list.

So, better if you opt for a supplement coverage in case your area is flood and disaster prone.

  1. Research or shop around

Before committing to any insurance company, wait, take your time and do some effective research. It’s not always about money, other things do matter. Take time to read user reviews, about the company and the agent. Sometimes the process can get exhausting while filing a claim, in contrast, things can be pretty smooth if your agent is a good one.

  1. Avoid non-required actions and reduce premiums.

There are certain actions that are just added to increase your premium amount by the policy provider. If you take an insight carefully into the policy bond, you will find that your agent is charging you unnecessarily  for actions which are completely avoidable. Speak back and ask him/her to exclude such actions and reduce your premium amount.

5.When and how to file Home Insurance Claims a claim

It’s important to know when you should file a claim.

Never wait to file a claim, ask for the time limit to file a claim and abide by them or you might not remain eligible to claim the benefits.

Always maintain a record

Always keep a record of things that are under your possession, and use it when time comes.

File a claim when in doubt whenever there’s some mishap and you feel you can file a claim, but you doubt if the expense is covered or not. Don’t overthink, just call your agent and enquire.

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