Mistakes when buying homeowner’s insurance can be very costly, and there are quite a few mistakes you can make. You may not be covered if you do not get the right type of insurance. Read these great tips to help you make the ultimate decision.
What would do you do if your home was destroyed in a natural disaster and needs to be rebuilt? If you purchased your homeowner’s insurance years ago, the cost of construction and materials may have gone up. For this reason it is important to make sure you buy a Guaranteed Replacement Value Insurance premium which will guarantee that your home will be rebuilt regardless of the cost.
Before speaking with a claims adjuster about your homeowner’s insurance claims, get some repair estimates from trusted local businesses. This will give you some ammo against the insurance company when they tell you how much something will cost to repair or replace. Also, emergency repairs that you make to keep the damage from getting worse will be covered, as long as you keep receipts.
Stay away from pools and trampolines. While your kids may love to jump on the trampoline or swim in the pool, these little extras are insurance nightmares. Insurance companies will up to double the rates of a homeowner who installs either of these items. Stay away from extras with the potential to harm!
Make sure to get homeowner’s insurance when you purchase a house. People sometimes forget about insurance because they are too busy dealing with other matters. If something disastrous happens to your home, such a fire, hurricane, or flood, your homeowner’s insurance will help pay all or some of the repair costs.
Install smoke alarms in your home. It will not only help to protect your family in the case of a fire but it will also get you about a ten percent discount on your Ballwin MO home insurance policy. Many newer homes already have them installed but if they are not, it is an affordable thing to add to your home.
Make sure that every exterior door on your home has dead bolt locks. Depending on your insurance provider, this might lower your home owner’s insurance premiums slightly. They also make a great deterrent against would be thieves or other intruders. They are inexpensive to install and a great way to keep your home safe.
Guaranteed Replacement Cost
Select guaranteed replacement cost coverages on your home owner’s policy to make sure you are fully protected in case of damage or destruction. While coverage tied to the overall mortgage value or assessed value of the home may seem sufficient, often rebuilding a home costs more due to increases in construction and material costs. Making sure you have guaranteed replacement cost ensures your home is rebuilt should a disaster occur.
List expensive items separately on your insurance policy or add them as an endorsement in order to completely protect them. Furs and jewelry may not be covered for full value in your policy. In this case, you will need to add them in individually.
Make sure you have an adequate number of smoke alarms within your home. In most new homes, detectors are already installed. Check your home and if you don’t have them, install one in or near each room. Smoke alarms will alert you of any fires in your home and keep your insurance premium prices low.
It isn’t always about trusting your chosen insurance company, but more about keeping yourself well-informed about an important decision. This is not just a car, but the place that you call home. Apply this information to get the right coverage for your needs.
For more information please visit https://www.ballwininsurance.com or call locally 314-569-1010