Every homeowner can use these home insurance tips to help in knowing more about what insuring a home is all about and to get more out of it. Insuring your home can help you to have peace of mind knowing that in case a disaster strikes, you have a backup and you do not have to worry about getting back on your feet. This is because homeowners insurance covers the home against damage from various perils. The home insurance tips below will help you know more about insuring your home.
Know exactly what your insurance covers and does not cover
Make sure you read the fine print of your policy and understand every bit of it. This will ensure that you know what is covered. You will also know what to make a claim for in case of a disaster. You should know what the policy does not cover. There are various types of home insurance policies and insurers cover different disasters. There are also exclusions from the standard policies. Know them so you do not make a claim for what you do not qualify.
Know how to reduce premiums
There are ways you can reduce your premiums without affecting the kind of coverage you get. For instance, installing a burglar alarm, a smoke detector or a deadbolt can reduce the premiums by up to 20%. This is because you have reduced the risk of insuring your home.
Report a claim on time
There is a time limit to filing claims. Ask your insurer the time limits so that you abide by them. Waiting for a long time can make a claim invalid and you will lose the benefits.
Have it written down
Keep records of what takes place during a loss especially what you did to mitigate the loss. Keep a record of phone calls that you have made. Remember to save contracts, receipts and appraisals in a safe place including online. This can help you when making a claim.
Know how valuables are covered
Valuables are usually not covered by the standard policy and if they are, it is up to a particular limit. If yours are very expensive, you should include an additional cover to the policy to cover them.
Do regular maintenance
Regular maintenance can help to detect problems in your systems such as air conditioning and drainage systems. Insurers also require the systems to be maintained and can deny claims based on that. To be on the safe side perform regular maintenance of the home systems.
Know when you should file a claim
Filing frivolous claims can result to high premiums. This does not mean that you should not file claims, just make sure they are worth it. You should handle small damages that will not cost much to repair and leave the large ones to the insurer. If you are in doubt about a claim, do not be afraid to contact your insurer.
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