Many homeowners are rather familiar with the major coverage options offered under their home insurance policy. For instance, many homeowners know that if their home is damaged in a fire, their home insurance coverage will help to cover the cost of repairing or rebuilding their home. However, this type of major coverage is just one of the many benefits that a standard home insurance policy can provide. In this article, you can learn more about three of the lesser-known coverage options that these policies often include.
You should do everything possible to ensure your home insurance coverage doesn't elapse. For example, you can pay your annual coverage upfront or sign up for automatic premium payments. Below are some consequences you might face if you let the coverage lapse. The Lender Might Buy Coverage on Your Behalf Mortgage lenders use different tactics to prevent their investments. Your lender's main aim is to ensure that they can recover their money even if you lose the house (for example, to a disaster) and cannot afford to repay the loan.
Do you wish you could pay less for your auto insurance but are not really interested in changing your coverage options? If so, you should know that there are some very easy ways that you can start saving money without the need to change the level of coverage that your auto insurance policy provides. In fact, many of these money-saving opportunities can be used without the need to change anything about your automobile insurance, not even your coverage or your provider.
Home insurance is too often treated as an afterthought by homebuyers, especially those purchasing a residence for the first time. Yet many mortgage lenders will not allow the closing process on a home to officially conclude unless the buyers have offered proof that they have a home insurance policy in hand. If you are currently shopping for a new home and are unsure about what things to keep in mind while looking at home insurance policies, take a look below at just a few helpful tips.
You might have heard of SR22 insurance at some point, or you might have been told by a court or lawyer that you need to have SR22 insurance. Contrary to what a lot of people believe, this is not actually a special type of insurance policy. Instead, SR22 insurance refers to a certain form that has to be filed by your insurance company, based on requirements from the courts. This is done to help ensure that you constantly maintain liability insurance at all times.
After we purchased our first home, we realized that it might be a good idea to evaluate our insurance coverage. Although we had purchased homeowners insurance before, we had never owned a policy as large as the one we would need for our new place. Also, our new home had a trampoline and a swimming pool, which made us worried about liability. To iron out the details, I decided to meet with our insurance agent. We talked about things like monthly premiums, coverage limits, and deductibles, and it was incredible to learn more about the terminology. This blog is designed to help you with the same types of questions.