HOME INSURANCE BASICS
Your property is insured in home insurance, thereby protecting you against future ordeals. There are some disasters which are not covered by home insurance. Home Insurance is a protection against perils which your house and its belongings may face and is also to protect you against any injuries caused to others in your house
Your quarters and chattels are included in the Standard homeowners’ insurance policy. Based on your occupancy right, kind of accommodation or the insured total you can choose the kind of policy. It is imperative that the value of goods to be insured is assessed before you start thinking of an insurance company.
Those policies which have been in effect for more than 60 days cannot be cancelled by insurance companies. If you did not pay your timely premiums and after few days if you wish to renew your policy then insurance company has a right to non–renewal of your policy. It is important to select an insurance company which has sound financial background, is equipped in your area having good service levels. Try to get quotation by contacting the company and through its agents. Assessment of policies between companies to get the best tariff is also imperative.
People who stay on a rental basis are provided safety by the Renter’s Insurance, as it is not taken care of by the house owner. Homeowners insurance premium cost depends on factors which affect the susceptibility of your house to any disaster.
The insurance company evaluates you on numerous points based on which the cost is determined. Assess your policy annually
Claim is filed to an insurance company when there is damage to your property or personal possessions. It can also be filed when there are any liabilities that occur by you or your family. Thus your insurance cover serves helpful in case of legal proceedings.
The insurance company has to check whether the claims that you file are legal and accordingly they reimburse for actual damages incurred by you. This process is taken care of by an adjuster. An adjuster visits your house and verify for the damages. On the basis of your policy cover, he will decide what amount has to be offered. The expenses of the adjuster are borne by the insurance company. He has the authority to evaluate, negotiate and authorize the settlement amount payments.
Steps to be taken care of when filing a claim: –
• Do not be late to file the claims because there are certain time limits to be followed.
• Ask your insurance agent first what forms or documents are required.
• Fill in the claim form correctly.
• Attach the necessary documents. In case of theft, burglary or any such criminal activity attach a police report. It is obligatory.
• In case the house has been completely damaged and you are staying in a hotel, collect all the bills and submit it while filing your claims.
• Maintain adequate copies of the documents and bills.
• If you have repaired your home immediately to avoid further damage, store the bills of the expenses.
• Make a list of the home inventory that has been damaged. This will give you an approximation of your amount of losses.
• Do photograph the damaged items or video shoot them. This gives a strong proof to the adjuster about your damages.
• Openly tell your dissatisfaction to the adjuster if you do not agree with the settlement amount.
Filing a claim is relatively simple and it doesn’t take a lot of time. However, to smoothen the process still further is to be aware about the procedures of filing a claim and about the coverage of your policy.
You are lounging near your pool when you smell of something burning. You rush indoor to find that there is smoke everywhere– the reason being short circuit.
What do you do then? You panic. All your fancy gadgets that adorns your home to make your life simpler, simply refuses to start. Things can go haywire and your well–deserved break could turn you into a zombie.
What then..? Take a deep breath and switch off the mains– now go and call the electrician.
Taking homeowner insurance can save you from heartburns and stress. Not only having a home insurance ensures your own happiness, but it also ensures that you maintain a cordials relationship with all around you.
If your dog bites a neighbor and accuses you of lackadaisical behavior, if someone is hurt by the lawnmower while passing through your property, if your best buddy’s little child is hurt in your party, then the equilibrium of the relationship changes. But, you can definitely gear up for such eventualities to know all about the above questions refer to our sections on “Dog Bite Liability”, “Lawnmower Safety”, and “Grilling Safety” respectively.
Homeowners insurance provides us with insurance for such eventualities. Please go through the various sections mentioned in this article for peaceful and amicable existence.
DOG BITE LIABILITY
To have your dog bite someone, even without the intention, it can prove to be a very costly affair for you. So you can insure this risk with the help of the insurance plan that Homeowners insurance companies offer. In 2005, it is reported that the insurance companies paid a sum close to $317.2 million for dog bites alone. In fact, every year there are approximately 4.7 million cases of dog bites and that too only in America.
Property/casualty insurance companies maintain a detailed list of the dog breeds that are more prone to biting as compared to the other breeds. This list is in the descending order:
• Pit Bull
• German Shepherd Dog
• Doberman Pinscher
• Chow Chow
• Great Dane
• Saint Bernard
The above list is based on the information that has been collected by the Centers for Disease Control and Prevention during the last 20 years. You should remember that Insurance companies charge more premium for the dogs, which come in the breeds that are mentioned above as their bites can even prove to be fatal.
You can follow these steps to check your dog’s bites, these are simple yet very successful:
• Spay your dog as a precautionary step.
• Have your dog trained so that he knows how to behave in normal day–to–day situations.
• Do not develop aggression in your dog. Avoiding simple things like playing competitive games with him will help control his aggressive behavior.
• When you are not sure how your dog will conduct himself in certain places or situations, make sure that he is kept away from those particular places or situations to avoid unnecessary complications
Every year, winters are very cold in America. We regularly see occurrences of freezing temperatures, snowfall, and then after some days, the melting of that ice. All these adversely affect our houses and more importantly even us.
Standard homeowners policies provide insurance cover for damages caused due to you freezing. For loss caused because of damaged drains, there is a different insurance cover. In addition, as a protective cover against flooding, the National Flood Insurance Program has its own insurance plan.
You can go through these following guidelines, which will be helpful in reducing the intensity of the damage caused to you and your property during the winter months.
1. Always keep your house temperature at 65 degrees or above it because if your house is any colder that 65 degrees then, your walls that are close to your pipeline will become colder than you other pipes. In fact, sometimes even your walls might freeze.
2. Always remove all the snow from your home entrance and driveway.
3. It always helps to know where the main water source of your house is. In addition, you must know how to operate it.
4. Make sure that none of your external hydrants has its hose attached to it during winter.
5. Pipes often freeze, to avoid this, always have water flowing through them. Moreover, you can even make use of hot water for this purpose to keep the water flowing steadily.
6. Make sure that your fireplaces and electric heaters are in workable condition. It is always better to shut the outlet of your fireplace when it is not in use.
7. There are high chances of your inside doors not being as well insulated as your external doors. Hence, you must always close the garage door in case your garage is connected to your house.
8. A long vacation in winter is welcome but not without draining your entire water system. You could also employ a professional person to do this and it will ensure that you will not have any freezing or breaking of pipes in winter. And if your vacation is rather short, you can simply request your neighbor to keep his eyes open for any freezing or bursting pipes in your house. If he agrees to take charge of handling any unforeseen situation, you are in luck!
9. Ice dams cause the water to collect and it will eventually seep into your house. Make sure that leaves and other debris do not obstruct gutter–opening area, so that water flows through it unhindered and the formation of ice dams can be stopped.
10. Keep your eyes open for any signs of a weak branch. There is a high probability that such branches might give away under the heavy weight of the snow. This could easily injure somebody or even wreck your automobile.
Please follow these guidelines when you are in a cold climate related problem:
Burst Pipes: First and foremost, turn off the main water tap. Then wipe away all the water so as to avoid any further complications due to water retention.
Frozen Pipes: Primarily never wait for the pipes to burst on their own. As soon as you come to know that you have frozen pipes in your house, start to thaw them. You may also need the help of a plumber, which is a very good idea.
Temporary Measures: You must take the necessary temporary measures in order to make sure that your house and the things in it are not harmed more.
Prepare a list: Make a clear list of all the items that are damaged. You will need to place this list before the insurance claim adjuster.
Contact the Insurance agent or company: Primarily, get in touch with your insurance agent or the company. They will send somebody to your house to study all those things that you have claimed to be reimbursed. However, in the lone case of water spill, you should not wait for anybody from the insurance company to come before to mob all the water.
Water damage: Mold can be a common headache. The best way out of this situation is to clear that place of water. Then ensure that it dries properly. And then, once you have been paid for your loss by your insurance company, you should get that entire area properly repaired.
Keep the receipts: Your expense receipts are essential when you submit your insurance claim to the company. For this, you must preserve all the receipts of all the relevant expenses borne by you.