Cleaning Up Your Insurance Policy

Is it Secured ?Once in a year, be it spring or winter, a clean up of home, your assets and other belongings is a must. You will take a day or a weekend to delve into cobweb, wash windows, clean out your closets, think about remains, to put away blankets or warm clothes, to pile up unused items and organize life for a new season. While it is the time to clean up the mess, it is also time to clean up and reorganize your insurance records. Here are some tips you want to follow to make sure all your policies are up to date and covers all your assets and provides protection needed.

Home Insurance

Did your home incur any loss? If then, make sure your home is insured with enough of dwelling coverage to look back for a living condition being replaced if any loss hits your home. Have you made any plumbing, electrical upgrade or installation of safety devices such as alarms, dead bolt locks, or sprinklers in yard of your home ever since you made a thorough review of your policy. If yes, then make sure that your home’s replacement value does not exceed its coverage limits.

This season if you owned any jewelery, coins, silver ware or other such valuables, ensure to be added to your home insurance policy with sufficient coverage. Otherwise, a schedule to be drawn for an endorsement on your insurance policy for these valuables to be covered individually. Liability coverage is a must if you have become more of a risk for any lawsuit. With kids at home, always take that extra care and protection needed. Additional requisites such as trampoline or swimming pool at home does affect your insurance rates. You might have to disclose pertaining information to your home insurance company and take additional coverage.

Auto Insurance

With changes in your life this season, whether you get married or your kid grows to be a teen, make sure they are adequately covered and are listed on your policy. They are new drivers in your home and adding them to your policy becomes necessary. You buy a new car or install safety devices to an old car, inform your agent to keep him updated. Grab those discounts which you will be eligible for. Talk to your agent today to find out more or any changes on your car insurance policy’s terms and conditions. You can combine your car and home to avail discounts. A clean up on your policy every season can save you dollars and provide more security.

3 Things You Should Know Prior to Buying Texas Homeowners Insurance

basic home policy covers very lessBefore you purchase homeowners insurance for your Texas house, there are a few important things you should know about the coverage you are buying. Following are 3 things you should know prior to buying Texas homeowners insurance.

  1. Basic Policies – There are 3 basic types of Texas homeowners insurance policies that provide a standard level of coverage. They are HO-A, HO-B and HO-C. An HO-A policy provides the lowest level of coverage. It generally provides a limited cash value for loss and damage to your home and its contents. An HO-B policy is a step up and may provide replacement cost coverage for all forms of damage or loss except those specifically excluded in the policy. The HO-C policy provides even more complete coverage and are also the highest price of the 3 types of policies.
  2. Basic Coverage – Most Texas homeowners policies provide the following coverage. They cover losses caused by fire and lightning, smoke, explosion, theft, vandalism and malicious mischief, riot and civil commotion, aircraft and vehicles, windstorm, hurricane and hail (you may need a separate hurricane rider) and sudden and accidental water damage. Areas that generally are not covered include loss caused by flooding, earthquake, termites, insects, rats or mice, wind or hail damage to trees and shrubs, losses in a house that has been vacant for 60 days or longer, wear and tear or maintenance and water damage resulting from continuous and repeated seepage.
  3. Personal Property – When you buy a standard Texas homeowners policy, your personal possessions are generally covered up to 40% of the amount of the dwelling coverage. If you do not feel that is adequate, you can get higher coverage by paying a higher premium.