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When you purchased your home, you were required to purchase homeowners insurance in order to receive financing. Understanding this coverage will help you make the most of your policy if you should ever need to make a claim. Homeowners insurance policies are labeled based on how much coverage they offer. The three types of homeowners... more »
You work hard for your money, so why should you have to pay too much for homeowners insurance? You are not stuck with the current cost or new quotes for homeowners insurance. You may be surprised to learn that there are many ways you can lower homeowners insurance costs and keep more money in your pocket! more »
How often have you heard someone say, "My insurance company loves to get my premiums, but hates to pay claims." While there may be situations where this is true, all good insurance companies realize they are in the customer service business as much as the insurance business. Getting a fair settlement often involves your efforts to... more »
Homeowners insurance guarantees the cost of repairing damage to a home caused by an accident or an act of nature. However, your insurance policy includes a deductible, and this is the amount you must pay out of pocket before the insurance pays the rest. Homeowners often choose the amount of their deductibles to suit their own... more »
ATV stands for an All Terrain Vehicle. The ATV vehicle generally consists of very basic features and has skid-steering, balloon-like tires and no suspension. ATV's are vehicles that are, typically, used for recreational travel. more »
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Arguably one of the most important investments a person can make his or her lifetime is purchasing a house. In order to protect that investment,... more »
Yes, it is possible to buy homeowners insurance after a tornado. If your home was damaged by a tornado, there are important steps to take before... more »
Homeowners insurance is a necessity when you purchase a home. In fact, you can't buy a home without having a policy. Perhaps, though, in the... more »
Homeowners insurance is very important and valuable coverage. It is mandatory, if you have a lien holder on your home. However, there could come a... more »
Hopefully you'll never have to place a claim against your homeowners insurance policy, but nonetheless, it's important to maintain a current... more »
Home insurance, also commonly called hazard insurance or homeowners insurance (often abbreviated in the real estate industry as HOI), is the type of property insurance that covers private homes. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to ones home, its contents, loss of its use (additional living expenses), or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home. It requires that at least one of the named insured occupies the home. The dwelling policy (DP) is similar, but used for residences which dont qualify for various reasons, such as vacancy/non-occupancy, seasonal/secondary residence, or age. It is a multiple line insurance, meaning that it includes both property and liability coverage, with an indivisible premium, meaning that a single premium is paid for all risks. Standard forms divide coverage into several categories, and the coverage provided is typically a percentage of Coverage A, which is . The insurance policy itself is a lengthy contract, and names what will and what will not be paid in the case of various events. Typically, claims due to floods, or war (whose definition typically includes a nuclear explosion from any source) are excluded. Special insurance can be purchased for these possibilities, including flood insurance. Insurance must be updated to the present and existing value at whatever inflation up or down, and an appraisal paid by the insurance company will be added on to the policy premium. Fire insurance will require a special premium charge, plus the addition of smoke detectors and on site fire suppression systems to qualify.
The home insurance policy is usually a term contract—a contract that is in effect for a fixed period of time. The payment the insured makes to the insurer is called the premium. The insured must pay the insurer the premium each term. Most insurers charge a lower read more at » http://en.wikipedia.org/wiki/Home+insurance
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