understanding your insurance policy

understanding your insurance policy

Three Tips for Caring for Your Home

by Tuĝba Van Den Heijkant

If you are a homeowner who is really looking to keep your house intact and protect it from damage, you'll need to keep a few policies and practices in mind. Doing things like maintaining your homeowner's insurance, keeping tabs on maintenance, and getting professionals involved who can help you will go a long way toward getting the most out of your property values. With this in mind, read on and put the following tips to use in order to get all that you can out of your home ownership. 

#1: Purchase a high quality homeowner's insurance plan

When owning a home, one of the most critical things to invest in is a quality homeowners insurance plan. Touch base with a number of different home insurance companies in order to get an estimate on the premiums and the cost of the overall plan. When it comes to the annual cost of homeowners insurance, you might expect to pay somewhere between $300 and $1000 per year. Be sure that you are always updating your homeowners insurance policy in order to keep up with upgrades and structural changes that might take place. This way, your insurance plan is always valid and able to cover you.

#2: Stay on top of your home maintenance

The way that you maintain your home will dictate the longevity and overall value you received from it. It is important that you maintain your plumbing, foundation, roof, electrical work, exterior building components, and other such features of your home. Don't hesitate to bring in professionals to handle the heavy duty maintenance and repairs. It is important to always budget for these various types of maintenance on an annual basis. For instance, some experts suggest to set aside $1 per square foot in maintenance costs each year.

#3: Take advantage of professional inspections

Getting a professional inspection can save you plenty of money throughout the course of home ownership. The reason for this is that contractors will be able to point out any issues in your home before they become more serious. People pay close to $300 on average for a professional home inspection. Reach out to a home repair contractor who will be able to handle a house inspection for you every few years, to make sure that you are doing your best to care for your home.

Follow these three tips in order to get the most out of your home.


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understanding your insurance policy

You keep a copy of your insurance policy in your file drawer, but do you know how to read and understand the policy? Having an insurance policy will protect you from losses, but it won't protect you from all losses. To get a better understanding of what your policy will and will not cover, read through this blog. You will learn about all different types of insurance policies and learn the terminology used in the documents that you have read. Hopefully, by the time you have read through the content here, you will know exactly where your insurance policies are lacking so you can make changes.