The average homeowner feels secure knowing they have insurance in the event of a severe weather calamity. Most people believe that no matter what happens, they have paid for protection against disaster. Unfortunately, not every homeowners insurance policy provides full reimbursement from severe weather losses. Hurricanes, tornados, earthquakes and other rare catastrophes may not be covered under your current policy. Consider the impact of these extreme events and whether you are fully insured for the subsequent losses. 1: Hurricane Damage May Not Be Fully Covered The recent national … [Read more...]
Rebuilding Costs: Rethinking How Much Homeowners Insurance You Really Need
Buying a home comes with numerous financial planning obligations. It's far from a turn-key operation and one of the significant challenges involves developing a working knowledge about things often outside your area of expertise. For example, working as an educator, police officer, investment banker or office staffer does not necessarily make you an expert about home repairs or insurance coverage. Yet, the average homeowner is tasked with carrying a certain level of homeowners insurance coverage without a strong working knowledge. Many homeowners just purchase enough insurance to cover the … [Read more...]
How To Maintain Adequate Homeowners Insurance Coverage
In the aftermath of Hurricane Sandy, stories have emerged of homeowners whose hazard insurance coverage was too low to cover the damage to their respective properties. Unfortunately, this scenario is common among U.S. homeowners, and is not just limited to damage from natural disasters. Homeowners in Phoenix and nationwide are often woefully under-insured against catastrophe in its many forms. Whether you're buying a home, or own one already, revisit your hazard insurance policy choices and be sure that your bases are covered. Here are four common components of a homeowners … [Read more...]
House on Fire! Easy Tips to Save You Money on Home Insurance
Earthquakes, windstorms, rain damage, flooding, falling trees, vandalism, burglary… there are many things which could possibly happen to cause damage to your home. This is why homeowner's insurance is important, so that you can be protected in these unfortunate events. However, home insurance doesn’t have to be as expensive as you might think. There are a few ways that you can reduce the cost of this insurance and protect your home for less. Take the Time to Shop Around You don’t need to sign up for the first home insurance that you come across, as you will likely be able to … [Read more...]
