HOMEOWNERS
POLICY
12
ways to save money when you buy
your Homeowners Policy
1. Select a strong insurer.
Fast, fair, claim service is a must when it comes to
homeowner coverage. Ask about the company.
2. Don't guess at your
coverage. The cost of rebuilding your home might exceed
your estimate. Consult your agent and determine how
much you need to rebuild from the ground up.
3. Don't under insure
your possessions. Saving a few dollars up front could
cost you a significant amount of money at a time of
loss.
4. Always opt for replacement
value. Unless you insure for replacement cost of household
possessions you will be paid only actual cash value
(purchase price, less depreciation) for items burned,
stolen or damaged.
5. Choose an appropriate
deductible. The higher the amount of a property loss
you elect to self insure the lower your premium is likely
to be. ( $250 is fairly standard but $500 is affordable
for most homeowners.
6. Schedule Art, Furs,
Antiques and collectibles. Make certain all items of
this nature (especially those worth moderate or high
values) are separately scheduled for their worth.
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7.
Ask about off premises coverage. Don't take a chance
with expensive equipment. Make sure your insurance covers
possessions in transit, and for mysterious disappearance.
(Lack of coverage can be an extremely costly mistake.)
8.
Make sure you get proper credits. Many policies provide
discounts for proximity to fire hydrants and fire stations,
smoke alarms, burglar alarms.
9.
Check on your coverage for living expenses. In the event
of fire or other damage to your property policy should
provide adequate payment for alternate lodging during
the period of rebuilding.
10.
Find out about excess liability. Don't take basic liability
coverage for granted...especially if have attractive
hazards such as a swimming pool or frisky pets. (Lawsuit
settlements really have become excessive.)
11.
Don't ignore earthquake and flood insurance. "It
can't happen here" has cost many a homeowner thousands
of dollars and countless grief. Neither peril is covered
under standard policies. Check them out.
12.
Most Important: Talk to us. We're independent agents
representing several companies that want to compete
for your business.
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