Homes in Houston Texas

Tip #1 – Know the Exact Value of Your Home and How Much Home Insurance You Need...

One of the most important things to understand from the very beginning is how much insurance you'll need. First you'll need to know the actual value of your home. If your home is damaged or destroyed, you're going to need to know what it will cost to replace the entire structure... or that portion of the structure which is damaged.

Tip #2 – Understand the Risk Factors That Your Premium Will Be Based Upon...

It's important that you realize your premium is based around the risk that the insurance company is taking by selling you the policy. In other words, the higher the risk that something will happen and they'll have to pay you for damage, the higher the premium will be.

Things like the crime rate in your neighborhood, your living habits, where on the block your home is located, how close you are to highways and busy areas, trees around or near your home...

Tip #3 – Know and Utilize All of the Things That Can Actually Save You Money on Your Premium...

While there are tons of risk factors that can drive up the cost of your home insurance premium, there are also many factors that can save you money on your policy, too. It's important to know this so that you get all the discounts available to you.

For instance some things that might earn you a discount include:

• A home burglary alarm system
• Dead bolt locks
• Fire alarms and sprinklers
• Updated heating systems
• Updated wiring and electrical system for the home
• A home near a fire hydrant or fire department
• A home located near a police department
• Well-structured and maintained stairs, sidewalks, driveways, and entrances (less chance of injury)

Tip #4 – Take Inventory Of Your Possessions and the Dollar Amounts...

Your homeowner’s insurance covers the structure and dwelling of the home, as well as the home owner's possessions.

Make a list of all your belongings and the value of those belongings based on receipts and purchase dates. This way if you ever need it you'll have a concrete list, and not something constructed from memory, where things could get forgotten or undervalued because you have no proof.

You may even want to take photographs of the items on your list, and definitely keep receipts for all new items purchased.

Tip #5 – Keep Your Inventory List Safe...

One thing you don't want to do is take the time to create an inventory list and then not have that list available when you need it.

If you leave it laying in a filing cabinet or shoebox inside the home, chances are in the case of a fire or some other tragedy you will no longer have that list. That’s why it is recommended to keep the list inside a fire-proof safe (along with your insurance policy, copy of your mortgage, and important papers for family members). Or you can keep it in your bank's safety deposit box.

Tip #6 – Know Exactly What Your Covered For...and If You'll Need Extra Insurance...

Something that happens much more often than it should is that people don't understand their coverage. Of course it's not always that simple to understand. People don't read their policy because a) it's boring as heck and b) it can be very complicated.

However, it's crucial that you know what you're covered for so that when it comes to filing a claim you're absolutely prepared.

Understand that you you'll likely not be covered for things like floods or earthquakes. These will be things that you'll have to decide on getting extra insurance for.

If you don't understand your policy take it to someone who does and have them look it over and explain it to you. A real estate lawyer, an attorney or accountant, anybody who can read and comprehend it better than you would be a good choice. If anything, simply write down the things that you don't understand and bring those questions to the types of people who will.

Tip #7 – Get Exact Instructions on How to File a Claim, Including Numbers to Call and Who to Speak To...

The last thing that you'll want to be doing in the face of a tragedy is scrambling to get the right people on the phone, and instructions on how to do things. You'll want to move fast and get the ball rolling on your claim right away, so that you can more quickly be compensated for your losses and/or get funds to pay for any displacement you may experience.

Source: hanoverfire

About Ameri State Realty: Professional Realtors, Marisol Mendez and Esteban work together and represent early buyers for the purchase or sale of new or used homes in Houston, Cypress, Katy, Spring, Tomball, The Woodlands or any other community in the Houston area we can advise you. “I am a Real Estate Professional in the Greater Houston Metropolitan Area. It has been my greatest pleasure to have helped many families close on their properties in the Houston Area. I am committed to making sure that your buying/selling experience is an enjoyable one. I am passionate about what I do and always looking out for the best interest of my clients.”

Homes in Houston Texas.

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