Home insurance guide
Home is definitely the most valuable asset for most people out there. It's an asset that requires a lot of effort and investment, so seeing it go down is definitely a heartbreaking experience that can be avoided. How, you might ask? With home insurance of course! Home insurance protects you financially if something happens to your house, its content and the property it's located on. Instead of having to repair or rebuild the house from own pocket you will be reimbursed with the cost of damage. Let's agree that it's a much better option even if your house is destroyed. So what to when looking for home insurance?
First of all you have to estimate the amount of coverage to be included to your policy. The most accurate figure is the cost of rebuilding your house from scratch if it gets destroyed beyond repair. And while most of you would consider looking up the market value or asking the agent, there's another way to get the most accurate figure. Take the overall square footage of your house and multiply it by current local construction cost. You can ask several construction companies in your area to get the numbers. The resulting amount should be the one you'll insure your house for.
After you've done with the coverage amount it's time to see what's included into the policy. Most home insurance providers with standard policies have pretty much the same coverage provisions, but it's definitely important to check the contents of every policy you're interested in. Most standard policies will cover the situations of interior and exterior damage of the house as well as the contents due to fire or storms and theft. Third party liability is also included for situations when you or any family members cause injuries on your property. You will also be reimbursed with the rent costs in case you have to move from your house during repair. Things like earthquakes, floods and tornadoes (especially in the Tornado Valley) aren't included into the standard policy and you'll have to buy separate weavers in order to get covered.
And last but not least, comparison shopping for home insurance is a must. Just like with any type of insurance each provider has its own method of calculating rates and you'll never get two identical quotes from two companies. So make sure to take your time and compare the quotes if you want a competitively priced home insurance policy.