Home Insurance

1. The age of a home solely determines the premiums for home insurance.

Premiums are determined by many factors. The age of your residence, the materials used to build it, where it's located, the square footage and the number of rooms play a role in determining the premium. Companies also use credit information and history to determine insurance premiums. Obtain home insurance quotes online by doing some research and making comparisons between different companies.

2. Lending institutions usually require mortgage customers to purchase their own home insurance.

Banks and mortgage companies usually require a certain level and type of coverage. It is best to check with your agent or insurance company to examine the level of protection you need for your situation and possessions. It is important to talk with your company representative and know your needs, desires, and requirements. Most agents will provide free home insurance quotes to individuals who ask for it.

3. Home insurance policies cover household contents.

Most policies automatically cover furniture, clothes, appliances, etc. for up to forty percent of the amount the residence is insured for. Typically the coverage amount is equal to the value of the residence. The homeowner has the option to get more coverage by paying a higher premium. These policies, however, do not cover flood damage. Flood coverage is a separate option that is provided for those that live in a flood zone, and in some circumstances may be required by a lender as a stipulation in a mortgage agreement.

4. You can lower the cost of home insurance by raising the deductible.

By assuming some of the risk, deductibles can lower the cost of your premium. You must be able to pay the higher out of pocket costs if an emergency does take place. It is up to you to decide whether lower deductibles or lowering the premium is best for your unique situation. Home insurance quotes provide rates while considering deductibles.

5. The success of your home begins by entrusting it to God.

Psalm 127:1 - Except the LORD build the house, they labour in vain that build it: except the LORD keep the city, the watchman waketh but in vain.

IRS Problems

Copyright© 1996-2015 ChristiaNet®. All Rights Reserved.