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Practical Home Insurance
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This site provides you with resources, practical tips, and links on home insurance.
32 articles
Fire Insurance Is Important
From Practical Home Insurance, 1 year ago, Read 0 times. Similar articles
A fire is a devastating tragedy if it strikes your home. The damage is severe and irreversible. That's why a fire insurance is something that you should always get the moment you own a home. The insurance may not bring the valuable things that may get destroyed in case a fire erupts in your home but you would at least get compensation that will allow you to rebuild your life.
Insurance companies usually offer fire insurance policies so you wont need to do a lot of research just to get a fire...
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Mortgage Insurance
From Practical Home Insurance, 1 year ago, Read 0 times. Similar articles
Still paying mortgage on your home' You may want to consider having a Mortgage Life Insurance as a protection in case of death or permanent disability of the mortgagor. Another one is the Private Mortgage Insurance (PMI) to protect the lender in case the mortgagor defaults in his payments. This allows you to invest in a home with a lower down payment. Lenders generally require a PMI as a condition of obtaining a mortgage. For homeowners, the Homeowners Protection Act of 1998 has required the...
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Simple Steps to Maximize Your Home Insurance
From Practical Home Insurance, 1 year ago, Read 0 times. Similar articles
There are simple steps to take and simple mistakes to avoid costly insurance cost and to avoid a decrease in insurance claims.
- compare insurance quotes. Make sure you have at least five quotes to compare to get the best insurance that will fit your needs. Having more options increases your chances of getting a cheaper offer.
- If itâ??s available, get a group insurance policy if you belong to an association, or your employer provides such option. More quotes plus more potential clients will...
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Tips to value your possessions
From Practical Home Insurance, 1 year ago, Read 0 times. Similar articles
To know how much value your home and your possessions costs, it is very useful if you make a list as you go around your house. Visit every room, upstairs and downstairs, cupboards, utility rooms, garage and outbuildings. Record every item you may have. Find out what it would cost to replace each item. If you buy any new things especially if they are expensive, check whether they are included in the policy or added as specified items. Keep your receipts and take pictures as proof that you...
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Standardized Home Insurance in the US
From Practical Home Insurance, 1 year ago, Read 0 times. Similar articles
A private company called Insurance Services Office based in New Jersey was formed in 1971 and issued a simplified homeowners policy which is used by insurance companies. It developed standardized homeowners insurance that made it easier for the public to compare offers from different insurance companies. The seven forms of homeowners insurance are:
HO-1 : provides coverage for specific items outlined in the policy.
HO-2 : is also a limited policy that covers specific parts of the house against...
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Should you buy earthquake insurance'
From Practical Home Insurance, 1 year ago, Read 0 times. Similar articles
Basic homeowners insurance do not cover damages caused by earthquake. A separate earthquake insurance policy may be purchased for this purpose, especially if you live near a fault line. Earthquake insurance costs vary depending on your location, the building materials used (wood can better withstand earthquake than brick), and the “age” of your home.
Californians buy the most earthquake insurance, but there are fault lines all over the US that caused insurers to worry. The New...
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Protection Against Natural Calamities
From Practical Home Insurance, 1 year ago, Read 0 times. Similar articles
Living in a disaster-prone area entails a lot of planning and preparation – and most likely a huge home insurance premium. A more cost-effective solution is building a Fortified home – a project developed by the Institute for Business and Home Safety (IBHS). Homes and buildings are certified by IBHS to be Fortified if it has special features such as wind and fire resistant roofing, hurricane straps and clips connecting the roof to the walls, impact and pressure resistant doors and...
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Contents Insurance
From Practical Home Insurance, 1 year ago, Read 0 times. Similar articles
Contents insurance differs from buildings insurance. Buildings insurance covers the main structure of the house. Contents insuranceâ??s coverage includes your homeâ??s contents and your personal possessions. These include a lot of things like furniture, carpets, appliances, equipment, videos, cameras, cell phones, computers, personal belongings, valuables, clothing, and food. They may ask you to point out items on the policy and you may be asked to add security provisions like alarms and...
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Is your home protected'
From Practical Home Insurance, 2 year ago, Read 0 times. Similar articles
Whether you are an existing homeowner or a prospective homebuyer, you should be aware of the coverage of your homeowner’s insurance policy.
Damages caused by the following are not covered:
- flood
- earthquake or land movement
- war
- nuclear-related events (explosion, leakage)
- “Acts of God” or other natural calamities
Repair and maintenance costs may not be fully covered, only a percentage of the cost will be paid by the insurance company.
Among those covered are...
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Liability Insurance
From Practical Home Insurance, 2 year ago, Read 0 times. Similar articles
Liability insurance is included in a homeowner’s insurance policy as one of the basic coverage. Accidental damages and injuries of family members and pets which you are liable for are covered by liability insurance. However, injuries you sustain are not covered (you may use your health insurance for that). This is especially important if you have machines and tools in the house that may cause injury. Most of these are garden-related injuries. Consider having additional liability coverage...
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