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Home Insurance: 7 Tips Every Homeowner Should Know

Home Insurance: 7 Tips Every Homeowner Should Know

Home insurance policies can become complicated, so it is in every owner’s best interest to brush up on some key information before diving in.

Here are some tips for homeowners looking for coverage and ways to make the process as stress-free as possible.

Knowing you are covered is priceless.

Having a piece of mind is valuable, so sleep better at night knowing you are covered rather than worrying about breaking the bank. According to the Insurance Information Institute, there are 4 basic kinds of coverage:

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  1. Coverage for the structure of your home
  2. Coverage for your personal belongings
  3. Liability protection
  4. Additional living expenses if you are temporarily unable to live in your home because of an insured disaster.

The truth is, most people will never have a use for the majority of the coverage they acquire. But in the event of a natural disaster, emergency repair or any other pitfall that could occur it is worth the extra money to know that you are covered.

Purchasing auto and home insurance from the same company can save money.

In some cases, insurance companies will offer a discount on either home or auto insurance if you buy both from the same place. For example, Progressive offers a potential 8% discount on auto insurance if a property policy is added. This can become tricky, so be sure to crunch the numbers and make sure it will be less expensive to do both rather than purchasing separate policies from different companies.

Research insurance companies and premiums.

Insurance companies will determine the premium of your policy based on several factors. You can get a ballpark figure of what it might cost by simply entering your information at the website of any number of insurance companies. For example, Chill.ie Home Insurance provides fast quotes without even having to speak to an agent.

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Anything that puts your home at a higher risk of damage will affect how high the coverage premium is set. Do some research and find out what insurance company could potentially save you the most money. The National Association of Insurance Commissioners has tons of information on their website as well as recommendations for insurance companies within your region.

Secure the home as much as possible

It’s any homeowners’ nightmare to imagine something happening to the home when no one is there. Improve the security as much as possible, but keep in mind that effective alarms and monitoring systems can be expensive. But the good thing is some insurance companies will offer discounts for things like burglar alarms and smoke detectors. So, you can essentially save money while simultaneously protecting your home.

Know how much your possessions are worth

There is also coverage for things inside of the home. Keep an itemized list of all of your possessions because it is important when trying to recoup expenses. There are even online inventories that can assist with keeping things organized. According to Bankrate, the average household can have anywhere from $10,000-$30,000 worth of valuables. That sounds like a lot, but when you really break it down piece by piece the numbers make sense.

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Attach dollar amounts to every single thing you own and a clearer picture will start to develop. Also, remember to make several copies of the list and receipts and keep them in a safe place. Either store them digitally or keep them someplace away from any possible hazard involved with the home, as damage/loss will render them useless.

Purchase earthquake and flood insurance

If you live in an area that could potentially be affected by a flood or earthquake it is a good idea to get some extra coverage. Standard policies cover fire, hurricanes, lightning, hail and many other disasters but not floods or earthquakes. Know the history of your region to be sure you are not at risk.

Less is not always more

It can be tempting to simply go with the insurance company that charges you the least amount of money. That is not always a wise decision because the service and support they provide are also very important. Ask questions about the company’s reputation. Find out their track record with satisfied customers. Weigh those things and try to find one that provides the right balance of cost efficiency and quality service.

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Featured photo credit: ybimmobilier via ybimmobilier.com

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Erick Clifford

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Last Updated on October 6, 2020

6 Signs It’s Time to Change Your Life

6 Signs It’s Time to Change Your Life

Is it time to make some changes in your life? It just might be. Life is too short to not live it to the fullest.

Here are some signs it’s time to change your life.

1. Every week, you cannot wait for Friday.

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    Fridays are fun, but one thing I’ve discovered in my quest to find and do work I absolutely love is that almost every day can be really fun. If you’re saving all your living for the weekends, it’s time to truly think about your lifestyle and consider making some changes. Don’t get me wrong; it’s great to have plans you look forward to on the weekends, but what if you could have that excited Friday feeling most, if not all, days of the week? It takes a lot of self-discovery and work, but it’s truly possible to live a life you love—even on Mondays.

    2. You live for your vacations.

    Vacations are great, but what’s even better is building a life you don’t need to take a vacation from. As Seth Godin said, “Instead of wondering when your next vacation is, maybe you should set up a life you don’t need to escape from.” Vacations are fun and exciting, but even better is building a life where you have the potential to do what lights you up many weeks of the year, not just your two allotted vacation weeks.

    3. When you stop and think about it, you’re really not focusing your life on your priorities.

    Write down your 3 top priorities. Then write down the 3 things you focus most of your life on. Are you spending your time living your top priorities? Consistently spending time doing what matters most to you is one of the keys to feeling fulfilled in your life. If you’re not focusing your life on what’s important to you, it’s time to make some changes.

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    4. You have no idea what lights you up, and you don’t have the space in your life to discover it.

    If you haven’t found your passion in your current life, you’re not going to find it if you continue to do your same routine, over and over, year after year. In order to discover what lights you up, start by creating the space in your life to seek it. Give yourself time to figure out who you are, what your strengths are, and what picques your interest. Experiment with learning new things, spending time with inspiring people, and doing more of what excites you and less of the things that suck your energy.

    5. You’re frequently jealous.

    If you find yourself frequently feeling jealous of someone, there are 3 changes to consider making:

    1. Make a point to focus on your path instead of his or her journey. Sometimes this involves taking a break from social media.
    2. Get inspired from the person you’re jealous of, and work toward a similar goal in your life.
    3. Decide what the other person has is not something you are willing to put in the effort to achieve, so you’ll cheer him or her on but choose to not be jealous.

    When you are feeling jealous, consider why you want what the other person has, and what your motives are. Living a life on your terms, focused on your priorities, passions, and strengths, will provide you with much more fulfillment than trying to be somebody else.

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    6. You can’t remember the last time you stepped out of your comfort zone.

    According to Neale Donald Walsch, “Life begins at the end of your comfort zone.” Your life can become even more amazing if you stretch beyond your comfort zone. If you’re not sure where to start, try the tips in this article about small ways to step out of your comfort zone.

    Life is too short to spend your years not living to your full potential. If you decide you’re ready to change your life, I encourage you to start taking small action steps toward the life you want to live. Keep moving forward.

    Check out this video if you’re ready to make a change in life:

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    Featured photo credit: Lauren McKinnon/https://flickr.com via flickr.com

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