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Archive for the ‘Real Estate Insurance’ Category

Insurance: Why You Need It, and How to Shop For It

Friday, September 26th, 2008

The buyer pays the premium at the time of closing. Title insurance protects against loss arising from problems connected to the title to your property. Before you purchased the house it may have gone through several ownership changes, and the land on which it stands might have gone through many more. There may be a weak link at any point in that chain that could pop up to cause trouble. For example, someone along the way may have forged a signature in transferring title. Or there may be unpaid real estate taxes or other liens. Title insurance covers the insured party for any claims and legal fees that arise out of such problems.

Title insurance protects against losses arising from events that occurred prior to the date of the policy. Coverage ends on the day the policy is issued and extends backward in time for an indefinite period. (This is in stark contrast to property or life insurance, which protect against losses resulting from events that occur after the policy is issued, for a specified period into the future.)

Homeowners Insurance Rates – How to Get The Cheapest

Tuesday, November 13th, 2007

Thanks to the increasing numbers of hurricanes, storms, floods, tornadoes, and earthquakes in recent years, home insurance rates have gone through the roof. Here’s how to get cheap homeowners insurance rates with a top company.

Decide How Much Insurance You Need

Home insurance covers your home, your personal property, and protects you from liability lawsuits.

To figure out how much coverage you need to protect your home, ask a local builder or real estate agent what it would cost to replace your home in today’s market. Use that amount for your home insurance coverage.

To figure out how much coverage you need to protect your personal possessions, take an inventory of everything you own – furniture, appliances, stereos, TVs, sports equipment, tools, clothing, jewelry, linens, kitchen utensils, books, CDs, etc. Use the total value as the amount of your personal property coverage.

To figure how much liability insurance you need to protect yourself from a lawsuit if someone is injured on your property, add up all your assets – checking accounts, savings accounts, certificates of deposit, stocks, bonds, etc. – and use the total as the least amount of liability coverage you should have. Most people get $100,000 to $300,000 worth of liability insurance.

Go Shopping for Cheap Homeowners Insurance Rates

Once you know how much insurance coverage you need, go to an insurance comparison website to get rate quotes from different insurance companies. To get your quotes you’ll need to fill out a simple form with your insurance information and the amount of insurance coverage you want.

In order to get the cheapest rate, choose the highest deductible you can afford, and request all the discounts you’re eligible for as you fill out the form. By raising your deductible from $250 to $1,000 you can save up to 25% on your insurance, and by getting all the discounts you’re eligible for, you can save another !0% to 30%.

Most insurance comparison websites only deal with A-rated companies, so you know you’ll be getting quotes from reputable companies. The best comparison sites offer a chat feature so you can talk online with an insurance expert who will answer all your home insurance questions and help you get the best homeowners insurance rate.