FAQs About Home Insurance
Unlike car insurance, home owner's insurance isn't required (unless you have a mortgage, it can be required in that case.) Like car insurance, though, there can be many details to your insurance policy that can affect what's covered. The Mike MacGuire team knows how important it can be to protect your investment, especially after spending so much time to find the perfect Colorado Springs real estate. Here are a few frequently asked questions about homeowners insurance so you know what to expect from your policy.
What is Covered On My Policy?
Every policy is as unique as your home - and can sometimes be affected by the details of your home. Do you live in a flood zone? This may be something you want to be covered on your policy. If you live in an area that is affected by hail, rather than risk the damage that hail can cause without coverage, you may want to make sure that it is an inclusion in your policy.
Did you know that some policies will cover the food in your freezer? If you have a deep freezer full of food, you may want to make sure that it's covered so you don't have to buy it again if something happens.
What Can Affect My Policy?
There are several factors that are considered when your policy is written up. If you live in an area of town that is more prone to invasions, that could be included in your policy and even affect the price. On the flip-side, however, if you have an alarm system installed this could bring the price of your insurance down.
Can I Lower My Premium?
Since safety and security are two of the most important reasons to have home owner's insurance, with a few minor adjustments to your home, you can actually lower your premium. Here are a few things you can do:
Do I Need Personal Liability Insurance?
While this isn't required, you may consider it worth the few dollars a month to have. The purpose of it is to protect you from a financial disaster if someone were to injure themselves on your property. Even something as simple as someone falling down the stairs in your home could become your responsibility.
Do I Really Need to Inventory My Home?
Having a current inventory of your home can help your claim go faster should anything happen. While it's not required, it can be difficult to remember all of the items in your home after something has happened, and if you don't remember them, it can be hard to get reimbursed. Take each room at a time and write down the items that are worth a few hundred dollars with their make/model/and copies of insurance. Then you can do a general inventory of the smaller items.
Protecting Your Colorado Springs Real Estate
After you've endured the home buying process, chosen the perfect home, and filled it with the things that belong to you - it's safe to say that you probably want to protect it. From the first day you walk into your home, to the time you are ready to upgrade, the Mike MacGuire team is with you through it all. If you're ready to find your dream home, visit our website to learn more about our company and browse through our featured Colorado Springs listings!
Every policy is as unique as your home - and can sometimes be affected by the details of your home. Do you live in a flood zone? This may be something you want to be covered on your policy. If you live in an area that is affected by hail, rather than risk the damage that hail can cause without coverage, you may want to make sure that it is an inclusion in your policy.
Did you know that some policies will cover the food in your freezer? If you have a deep freezer full of food, you may want to make sure that it's covered so you don't have to buy it again if something happens.
What Can Affect My Policy?
There are several factors that are considered when your policy is written up. If you live in an area of town that is more prone to invasions, that could be included in your policy and even affect the price. On the flip-side, however, if you have an alarm system installed this could bring the price of your insurance down.
Can I Lower My Premium?
Since safety and security are two of the most important reasons to have home owner's insurance, with a few minor adjustments to your home, you can actually lower your premium. Here are a few things you can do:
- Install a security system
- Use smoke alarms
- Install a sprinkler system
- Use deadbolt locks on your doors
While this isn't required, you may consider it worth the few dollars a month to have. The purpose of it is to protect you from a financial disaster if someone were to injure themselves on your property. Even something as simple as someone falling down the stairs in your home could become your responsibility.
Do I Really Need to Inventory My Home?
Having a current inventory of your home can help your claim go faster should anything happen. While it's not required, it can be difficult to remember all of the items in your home after something has happened, and if you don't remember them, it can be hard to get reimbursed. Take each room at a time and write down the items that are worth a few hundred dollars with their make/model/and copies of insurance. Then you can do a general inventory of the smaller items.
Protecting Your Colorado Springs Real Estate
After you've endured the home buying process, chosen the perfect home, and filled it with the things that belong to you - it's safe to say that you probably want to protect it. From the first day you walk into your home, to the time you are ready to upgrade, the Mike MacGuire team is with you through it all. If you're ready to find your dream home, visit our website to learn more about our company and browse through our featured Colorado Springs listings!
Mike MacGuire
Colorado Springs Real Estate Agent
The MacGuire Team
6760 Corporate Dr
Ste 300
Colorado Springs, CO 80919
719-536-4324 or 719-660-6793
Mike@BuyWithMike.com
Comments