If you have a mortgage, the mortgage company requires that you have current homeowners insurance. But even if you don't have a mortgage, consider what you would do if a fire destroyed your home. Or what if a neighbor was injured on your property? These situations and more can be covered by your home insurance policy.
Unfortunately, most Americans aren't covered properly by their homeowners insurance because their insurance hasn't been updated in years to reflect the cost to repair and rebuild their home in a loss. If you have a business in your home, some provisions in your homeowners policy limit your coverage or prevent you from being covered for the business.
Making the most of homeowners insurance quotes can include the following:
1. Compare your current homeowners insurance rate to quotes from multiple insurance companies.
2. Include money-saving discounts when you get a quote for home insurance.
3. See why low house insurance rates aren't the only consideration when covering your home-based business.
Get an online homeowners insurance quoteInsurance experts tell customers to shop around for the best deals on home insurance. Several websites allow you to get multiple quotes in one location with a single application. See how this process can save you time and money with one-stop shopping.
Find the best homeowners insurance rate by including discountsGet all the discounts on your home insurance that you're entitled to when you ask for an insurance quote. Some discounts can save you 20 percent or more on your policy. Take advantage of all the discounts you can.
Make sure your house insurance rates include coverage for your home-based businessMany home insurance policies minimally cover or exclude coverages related to business. For example, most insurance policies only cover $2500 for business equipment kept in the home, but your needs may greatly exceed that figure if you have a loss. Find out whether endorsements to your current homeowner policy or a business policy will better suit your business needs.
- If you had a loss in your home, it might be difficult to remember which items you had. To make the most of your homeowners insurance, take pictures in every room to prove what you have. Receipts, pictures and video tapes can help reconstruct your home or office in the event of a loss.