Buying homeowners insurance can be expensive, but it is important if you need to pay mortgage loans. The insurance rates may vary depending on whether your home is labeled as high-risk. Numerous factors play a role in your home being labeled high-risk.
Here are the factors that may label your house as high-risk:
If your home is near or in a disaster-prone area or your neighborhood has a high crime rate, it can be labeled high-risk.
If the home holds a history of […]
It is a known fact that the insurance rates of different residential properties vary. This is because there are a number of factors that affect homeowners’ insurance premiums in a specific and unique way. These factors generally range from personal credit history and home liability limits to structural remodeling needs and house construction type.
However, there is another highly significant factor that directly influences the rate that is charged from homeowners for their home insurance – location.
Here are a few reasons why homeowners insurance rate keeps changing across various cities, localities, and neighborhoods.
Don’t mismanage your homeowners insurance during a home renovation.
If you want to remodel your home, then there are certain steps that you need to take to ensure that your homeowners insurance remains valid. Not sure how to manage your coverage? Then take these steps with your home insurance before and during your home renovation.
Inform Your Insurance Agent About Your Plans
Before you begin your home renovation project, you should discuss your plans with your insurance provider. This way, your agent can adjust your policy to ensure that […]
What you need to know about your home insurance and internal damages.
As a homeowner, you probably expect your homeowners insurance to cover every type of damage your home may sustain. However, this is unrealistic—all insurance policies have coverage conditions and limits, and your homeowners policy is no different. For instance, when it comes to internal home damages, your policy will only provide coverage under certain circumstances. Here’s what you need to know about your home insurance and internal damages.
Water Damage and Mold
Your home insurance may offer coverage for water […]