Insuring your home correctly

Insuring Your Home Correctly
Of all the assets you own, it is likely your home is the most valuable and the one you cherish the most. Because of this, you want to make sure you have home insurance that adequately covers all necessary expenses and other items associated with your home. Yet when starting the process of buying insurance for your home, you may not know everything you need to in order to make the best decision. To help with this, here are several key points you should always keep in mind during your search.

Rebuilding Costs
When purchasing home insurance, always make sure you take into account the costs that would be associated with rebuilding your home. Should the unthinkable happen such as a fire or a tree falling down on your home, you’ll need to have insurance coverage that will provide you the funding needed for the rebuilding effort.

Your Home’s Contents
While you may not think about it very often, the fact is you have plenty of items in your home. Once you start doing a room-to-room inventory, you’ll quickly discover your kitchen, living room, dining room, bedrooms, and other rooms in your home have lots of furniture and other items whose value can quickly add up. Therefore, before purchasing your home insurance, have a general idea of the value of your home’s contents and how much it would cost to replace everything if necessary.

Valuables
In almost any home, there will be various types of valuables. Whether this includes antique furniture, valuable jewelry handed down from generation to generation, artwork, or more current valuables such as watches, cameras, or sports equipment, these should always be given careful consideration when buying home insurance. If possible, it is usually a good idea to have these items appraised before buying your insurance. By doing so, you’ll have a much better idea as to how much coverage you will need.

Accidental Damages
No matter how careful you are in and around your home, there is always the chance an accident will take place. Whether this involves a motorist crashing into your property or pipes that burst and cause water damage to your basement, these situations need to be fixed immediately and often require significant amounts of money.

By taking these and other aspects into account, you will be able to purchase your home insurance while making sure you’ll have enough money to cover whatever comes your way.

Best regards,                 

Gary Hanson       II

Professional Insurance Strategies

P: (623) 463-9000  •  F: (623) 463-9001  •  E: ghanson@proinsgroup.com

2822 W Northern Ave.  •  Phoenix, AZ 85051

15331 W. Bell Rd, Ste 212, Surprise, AZ 85374

Mailing Address: 3655 W Anthem Way Ste. A 109 #283 • Anthem, AZ 85086 

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Justify your Home Insurance policy

Are you a homeowner? Then you need a home insurance. The chances are you’ve saved hard and long to purchase your property, and if anything wrong happened to it, it could be emotionally and financially devastating.

Although home insurance can’t take away the upset you’re likely to experience if, for example, your home is partially loss or damage by fire or flood, insurance can at least provide peace of mind that you will be able to replace or repair what you’ve lost home.

There are two types of home insurance, buildings or structure cover and contents cover. Here’s we discuss about how a home insurance work and how you can keep premiums to a minimum without any compromising on quality of protection and all benefits.

Buildings/Structure insurance

Buildings/structure insurance covers your actual home structure rather than its contents. So if, for a example, it was destroyed in a fire, flood it will pay for the verify cost of re-building your home.

The amount of home insurance cover you need is therefore depending on the re-build valuation of your home, rather than what it is valued at presently in the market. For example if your property might be valued at $500,000 in the market, your re-build value could only be $150,000( approx)

If you take out cover for your property’s cost and not the re-build Value, then there will be chances of under-insured, which could have major financial consequences if something does go wrong with your property.Our home insurance service provides proper guidance to help you choose an accurate sum insured for your Home policy.

Contents Insurance
Contents insurance, it covers valuable protection in the unfortunate event that your possessions are stolen or lost, or if they are loss by fire or flood. Calculate how much contents cover you will need, it’s a very good idea to do valuation room by room, otherwise it can seem a bit intimidating and it’s easier to miss out things which should be included.

The valueof you content insure should basically be the value, which you need to replace everything you own that’s in your home and premises – so that includes electrical items as well as personal effects such as costly jewellery and various clothing.

Ways to reduce the cost of home insurance cover
If you choose home insurance policy cover both your building/structure and valuable contents insurance with the same insurance service provider, you will usually be entitled to a good deal.

Always justify several quotes from different insurers, insurance service provider before buying as home insurance, and check cover limitations carefully, as cheapest isn’t necessarily always the best if it doesn’t provide you with adequate financial protection.

How to Insure Your Home

Home insurance protects your home, your contents, and, indirectly, you’re other valuable assets in the event of theft, fires and accidents or other disasters.

A standard homeowner’s policy will protect you from things like fallen trees, Fires. Theft etc.  But in polices didn’t mention floods or earthquakes—those events are mainly not covered by a standard policy so you require additional coverage. Homeowners in some areas in U.S.A may be required by their mortgage property to carry these kinds of policies.

A standard policy will also cover your possessions from said disasters as well as theft. But a standard home insurance policy is not a blank check: there’s an upper limit to how much you’ll be compensated. If you have specific things of value, such as expensive jewelry or famous artwork, you can pay a little extra money of each year to insure that such items for their full replacement value.

Now, if someone is on your premises and slips and falls and sprains his legs, he or she might sue you for his or her medical expenses. Homeowners insurance covers your  all other liabilities in this situation as well. And like the same examples mentioned above, you can pay more money for extra coverage. Homeowners insurance is in it required by law and rules like auto insurance. But mortgage sector usually require you to obtain a policy before they’ll give you a loan against your property.

Guaranteed Replacement Cost Cover– This refer to that the insurer will pay for the rebuilding of your home no matter what the cost. These type policies are hard to find these days.

Extended Replacement Coverage– Many insurers offer coverage that caps the payout at around 125 percent of your home’s insured amount.

Inflation Guarantee (or Guard) – This special feature makes sure that your home’s insured amount stays current with the marketplace.

Shopping for a Homeowners Policy There are three kinds of homeowner insurance companies and salespeople: Direct sellers, who sell directly to consumers, Captive agents, who only sell one company’s insurance products; and verified independent insurance agents, who sell  insurance policies from many different companies in U.S.A.  It’s possible that some insurance company will deny your policy application for anything from the risky pool of alligators exactly in your backyard or the tornado that runs through your assets every year. Don’t despair. Search for your state’s FAIR (Fair Access to Insurance Requirements) plan and be insured and happy.