Home Insurance Information You Can Really Use

You've heard it time and time again: read the fine print before signing. Unfortunately, when it comes to reading an insurance policy, the unusual terminology may make it all but impossible to understand what you have just read. Here is helpful home insurance information, including what you need to know about some of the most common and confusing clauses encountered when purchasing homeowners insurance.

Important Information About Obtaining Home Insurance Online Quotes

Obtaining a home owner insurance online quote is an easy and effective way to reduce the cost of insuring your home and personal belongings, but there are a few important considerations to keep in mind. Learn how to protect your property with this important information about your rights and responsibilities when buying home insurance online.

Must Ask Questions When Obtaining a Homeowners Insurance Quote

Obtaining a home owners insurance quote can be confusing, especially when attempting to compare different policies and plans. One important part of successfully buying the right insurance at the best price is to ask plenty of questions. Not only does it allow you to compare what is or isn't covered under each policy, but it helps identify potential gaps in coverage. Here is a convenient checklist of must-ask questions that will allow you to compare homeowners insurance quotes:

Locating Homeowners Insurance News

Staying up to date on homeowners insurance contract changes can be challenging. It helps to find a reputable source of reliable and objective information. Learn how to locate homeowners insurance news without the hassle, headache or cost with these great resources:

Homeowners Insurance Information When Disaster Strikes

If you find yourself needing to file a homeowners insurance claim, here is some homeowners insurance information and step-by-step tips on what to do in the event of a claim or loss.

All About Home Insurance

If you are purchasing your very first home, condominium or even vacation home, there is a lot to learn about the different types of homeowners insurance policies. Unlike car or auto policies, homeowners insurance provides a lot of different choices or packages to select. Here are some considerations for choosing the right insurance for your needs:

Homeowners Insurance Requirements

After suffering tremendous losses due to flooding, hurricanes and other natural disasters, many insurance underwriters are implementing stricter guidelines and additional homeowners insurance requirements in order to obtain the best rates. Find out how you can avoid the risk of cancellation, non-renewal and escalating homeowners insurance rates with the following tips:

Types of Homeowners Insurance Claims

When it comes to homeowners insurance, have you ever wondered what types of loss are likely to take place? You might just be surprised to learn about the most (and least) common types of homeowners insurance claims.

The combined claim frequency for all losses is just over 6.15%, with an average cost of $6,600 between the years of 2002 to 2006. While it may not initially appear that six out of every 100 insured homes is a lot to worry about, keep in mind the total number of years you are likely to own the home. Eventually, disaster is likely to strike; make sure you are prepared by purchasing the right homeowners insurance policy.

Home Insurance FAQs

Have you ever wondered about all the different codes, rates, premium differences and types of home insurance? The home insurance industry is complex and confusing, especially if you are unfamiliar with the different types of home insurance. Here are a few frequently asked questions about home insurance.

Q. What is the average premium paid for home insurance?

A. Home insurance premiums are based upon many factors including individual credit score, type of construction and even state of residence. Residents of Idaho pay the least for home insurance with an annual premium of only $457, while Texas homeowners shell out an average premium of $1,372 annually. The nationwide average premium for HO-3 homeowner insurance is $765 per year.

Q. How much home insurance do I need?

A. The decision on how much coverage to purchase varies according to your age, family income and available resources. In general, it should be enough to replace the physical structure of your home, personal belongings, cost of living somewhere else while the home is being repaired and liability in the event someone is hurt or injured on your property.

Q. What is an endorsement?

A. An endorsement is when you purchase additional insurance coverage for expensive items like jewelry, tools or other valuables. Most standard types of home insurance only provide limited coverage for expensive items. By purchasing an endorsement or "rider" for expensive items, you can make sure all of your belongings are fully covered.

Are You Covered?

Find out if you are covered by taking this quick quiz that shows common claims and the type of homeowners insurance likely to cover the loss.

Q. Someone breaks into your home and steals your jewelry with an estimated value of $12,000. Are you covered or not?

A. Partially. Most types of homeowners insurance provides limited coverage for jewelry and other expensive items up to $2,500 (on average). In the event of theft or other loss, you would be responsible for the deductible plus any amount beyond the cap. Ask your agent about an endorsement for expensive items.

Q. A neighborhood child slipped and fell in your backyard while playing with your children. The injuries required a visit to the Emergency room and his parents are threatening to sue. Are you covered?

A. Yes. Unless you knew there was a risk or it can be determined there was some type of negligence on your part, the liability portion of your homeowners insurance policy will cover legal expenses as well as medical bills.

Q. There was a big storm that resulted in a tree falling into the yard. Will my insurance cover the cost of having the tree removed?

A. Maybe. If your tree damaged the home or property, then the property would be covered. However, the tree is only covered in the event of vandalism, fire, theft, etc. Typically, tree and debris removal is only covered if the debris blocks entry into other parts of the home.