Three Benefits of Homeowners Insurance You May Not Be Aware Of

Three Benefits of Homeowners Insurance You May Not Be Aware Of

Buying homeowners insurance will help protect your property and your belongings inside it from from a variety of losses from relatively minor to catastrophic. A good homeowners insurance policy can be a life saver when a burst pipe causes tens of thousands of dollars worth of damage to the interior of your home, or if someone breaks in and steals expensive equipment. Aside from providing protections for the home itself and your property within it, homeowners insurance provides coverage for some potentially-dangerous situations. Dog Bites A lot of homeowners insurance policies include liability coverage designed specifically for situations in which the homeowners dog bites somebody. No matter how friendly your dog is, it’s important to remember that it’s an animal and isn’t going to interpret every situation the same way a person would; just because it hasn’t bitten someone before doesn’t mean it never would. Bringing Your Home Up To Code When you experience a loss covered by your insurance, and new codes or regulations exist that require additional expenses to meet, your homeowners insurance policy may cover any new mandates required to bring your home up to code above and beyond the cost to repair or replace what was damaged in the loss. Food Spoilage Due To Power-Outages If your power goes out and you have to throw out everything in your freezer and refrigerator, your homeowners insurance policy may cover the cost to replace it all. Many policies provide up to $500 in repayments for any food lost due to power outages. However, just because your insurance could pay for the loss doesn’t mean you should necessarily...
Out-Of-State Auto Insurance – Are You Covered?

Out-Of-State Auto Insurance – Are You Covered?

Depending on the US State in which you live, the rules and regulations regarding your auto insurance are likely to be different than someone who lives in another state. One thing that all auto insurance companies in the US have in common though, is that the policyholder will be covered when driving in all 50 states and Canada. When it comes to Mexico, the line starts to blur a little bit. Some auto insurance companies extend their coverage to policyholders driving in Mexico, and some do not. If you live in a border state and frequently drive into Mexico, it’s important to know whether or not your insurance policy is protecting you when you venture forth. If you’re not sure, you can always ask your insurance agent. All of the above information pertains to people who purchase an auto insurance policy in the state where they live. When you move to another state, things will change. If you’re permanently moving to another state, it’s possible – but unlikely – that your current auto insurance policy will cover you unless you’re with a nationwide provider. If you are, then it’s smooth-sailing as far as your auto insurance policy is concerned. If not, then you should look into buying a new auto insurance policy in the state you’re moving to right away. Different States, Different Limits One of the things that varies from state-to-state when it comes to insurance is the minimum legal liability limit. If you have the basic liability insurance required by your state and get into an accident in another state that has a higher legal basic liability...
Switching Auto Insurance After an At-Fault Accident

Switching Auto Insurance After an At-Fault Accident

Whenever you’re determined to be at-fault in a collision, your auto insurance premium is going to go up. Risk is a huge factor in determining what your auto insurance premium is going to be, and the more collisions you cause, the higher your risk, and therefore the higher your auto insurance premium. This often leads people who find themselves to be at-fault in a collision to wonder if they can change auto insurance companies to try and get a lower rate. Unfortunately, doing so isn’t always a good idea. You can change your auto insurance company any time you want – even after an accident where you’re the at-fault driver – but the company you had at the time the collision occurred is the one that will deal with the accident and any subsequent lawsuits (if any). If you’re sued for damages beyond what your policy limit was at the time of the collision, you’ll still have to pay out-of-pocket to cover the difference. When you’ll want to seriously consider changing auto insurance companies after an at-fault accident is when you’re facing a sharp increase in your insurance premium. Unless you have accident forgiveness on your policy, you’re going to face an increase in the price of your premium. However, if the increase is relatively minor, odds are you aren’t going to find a better price by switching companies. If you do, the difference would likely be insignificant. However, in some cases, a person’s car insurance premium can go up by as much as 50% to 80% after an at-fault accident. If this is the case, looking for a...
What is the Best type of Homeowners Insurance in Santa Clarita?

What is the Best type of Homeowners Insurance in Santa Clarita?

Santa Clarita homeowners insurance shoppers want to get the most “bang for their buck” when it comes to their insurance policy. It’s a common desire, and certainly isn’t limited to home owners in the Santa Clarita Valley. However, for those who do live within the confines of Santa Clarita, that finding the best homeowners insurance policy is going to depend on a variety of factors which will need to be taken into account. Location A big determining factor regarding homeowners insurance value is going to be the location where the home sits. If it’s in or near an area at high-risk for brush fires, then home owners need to know that the typical homeowners insurance policy isn’t going to provide them with all the coverage that they need; they will also need to purchase wildfire insurance. Age of the Home In Santa Clarita, some of the homes were built decades ago, while others were built just last year. Older homes usually have older materials that are more likely to cause problems. Plumbing is a huge factor here, as old pipes tend to rust, burst, or crack which will inevitably lead to an insurance claim filed by the owner. Contents of the Home Every homeowners insurance policy comes with coverage that will provide protection for the home owner’s personal belongings that are inside the house. Homeowners insurance policies will vary in the amount of coverage they offer, so people who own expensive furniture, appliances, and/or other things like televisions and stereos may want to look into a policy that provides a higher level of coverage. However, if there will be...
Does Homeowners Insurance Cover Swimming Pools?

Does Homeowners Insurance Cover Swimming Pools?

If you’re interested in getting a new swimming pool, or you’re buying a house that already has one, you’ll want to make sure to buy homeowners insurance that covers it. Generally speaking, your typical homeowners insurance policy isn’t going to provide enough protection if you have a swimming pool. To keep you covered, you’ll likely need: Increased Liability Protection – Swimming pools can be fun, but they bring with them a whole lot of extra dangers. Increased liability protection will be necessary to keep you covered in the event someone is injured. Increase in “Other Structures” Limit – Pools are considered “other structures” when it comes to home insurance, and the coverage limit for these “other structures” is usually 10% of the home’s total value. If this amount isn’t enough to cover your pool (and if you have other “other structures” on your property, it may very well not be) you’ll need to increase the coverage limit to cover damages to the pool. An Umbrella Insurance Policy – An umbrella policy provides additional liability insurance beyond that of your insurance policy’s stated limits. People who find themselves the target of major claims or lawsuits that their insurance won’t completely cover. Swimming pools can be a lot of fun, and owning one can enhance your living experience quite a bit. However, they can also be incredibly dangerous. When you own a swimming pool, you should take precautions to keep the area as safe as possible. Children should never swim when an adult isn’t present, and nobody should swim alone. Installing at least a four-foot fence around the pool with a...