Making A Claim On Your Homeowner Insurance Policy

A proper homeowners’ insurance policy doesn’t only guard against damage to the home itself; it also protects against your valuables being stolen. Make sure you’re using these tips to find a quality coverage package that will protect against theft and damage. Use the tips below to find a great deal on a solid package.

Get your jewelry appraised. If you haven’t had your jewelry appraised, now is the time to have it looked at by a professional. Jewelry values can increase greatly over time, and home insurance won’t necessarily cover the value if it gets stolen. A home insurance policy tends to list a ‘set’ value for jewelry, and if you have any valuable pieces, they need to be listed separately.

When buying a new home that needs extensive renovations, know that your home insurance premiums will reflect that work. The insurer will see the new work and factor in the cost of replacing the upgrades, which would be costly in the case of total destruction. This will increase your premiums to cover the cost of reconstruction.

Pay attention to the cost of your home, not your property, when you buy homeowner’s insurance in order to figure out how much coverage you need. Insurance companies generally do not care about the size of your lot. They are insuring your home. Don’t assume you need 0k of insurance coverage simply because you paid that much for the property.

You may not think you need flood insurance if you live outside a high-risk flood area, but it may be a smart idea anyway. About one-quarter of the federal disaster claims made for flooding come from homes and residences outside of high-risk areas. You can also receive a substantial discount on flood insurance if you live in a low- or medium-risk area.

One way to save on your home owner’s insurance is to increase the amount of the deductible on your policy. Increasing your deductible can usually help bring your premiums down. Make sure, though, that in the case of a claim you are financially comfortable with paying the deductible amount you are choosing.

If you want to insure your home against flooding, you’ll need a flood insurance policy. Flooding is not covered by most regular homeowner’s insurance policies. Protection against flooding covers damage from things like too much rain, creeks rising, landslides and more. If you think you need this additional coverage, speak to your agent, who will explain options and costs for your area.

Update your home owners’ insurance policy regularly. Your original insurance policy took the original number of bedrooms, bathrooms, construction type and location into consideration. Contact your insurance agent every time you make significant improvements on your home, such as added a swimming pool or increased the number of rooms, so they can reimburse you for the repair costs that might occur.

It will definitely help you to find a great insurance package if you use these specific tips, but above all you should realize that you’re going to need homeowners’ insurance. Don’t let this article convince you of that fact. The fact you own a home that is susceptible to anything should be evidence enough that you need a strong policy.