If we are honest, no matter where you live, there is a risk for natural disaster. Knowing how to insure your home against these unforeseen circumstances can feel a little overwhelming. Therefore, if you are preparing to insure your modular home, you will probably benefit from the advice we will provide for you here.
As with any type of insurance, it pays to shop around. We suggest you contact Alliance and Associates. They are one of very few agencies that can offer you live online quotes. And, they will provide you with estimates from multiple carriers so that you can make an informed decision. This will help save you money and time. Picking the right insurance will make keeping your home and family safe a whole lot easier. So, don’t miss the steps necessary to acquire good home owner’s insurance.
Waiting for potential brush fires, hurricanes, tornadoes, or floods prior to seeking out home owner’s insurance is definitely not advisable. You will need to be proactive when it comes to protecting your home and those who reside within it. The first step, of course, is to insure it;
- If you have a mortgage this will be a necessity. Carrying home owner’s insurance is required by mortgage companies because it protects their investment as well as your own.
- Check the policy. Don’t assume that the policy you are being handed will cover all the nuances of your life and those important to you. Make sure your possessions are included.
- Get a broker. Sometimes insurance paperwork is so slam full of legal mumbo jumbo it is really hard for the average home owner to understand. Let the professionals guide you through all that nonsense. Learn more.
Consider Your Valuables
Some insurance will only apply to the structure. That means it might cover your roof, but it won’t do anything for the solid oak pool table underneath that roof. So, when you’re shopping for insurance, consider all your valuables.
- Valuating the possessions. This is hard to do, but it is important to decide whether you’ll be looking for cash value or replacement value. Cash value will only give you what the stuff is worth the day it gets destroyed. It probably won’t provide you with enough money to replace all your possessions. We always recommend going with replacement value when you pick your insurance contract. Read this.
- Talk to your agent. There are people who keep their collectables, jewelry, and other expensive items within the confines of their home. Make sure your agent understands all the things you own that fall into this category because it may mean you’ll have to purchase additional coverage for those possessions.
- Do an inventory. Reviewing and creating a new home inventory every year is definitely advisable. Basically, it is just a list of everything in your home. This way, should a disaster cause significant loss, you will be able to prove what was damaged or destroyed. You will need to take pictures and very detailed notes including model numbers, purchase costs and dates. Then, make sure you keep copies of this list in a safety deposit box or somewhere else that won’t get messed up.
Home owner’s insurance always seems like a pain simply because the statistical probability of actually having your home significantly damaged is a good deal smaller than one would suspect. But, if you think you might lose everything, it is a good reason to pay an insurer their monthly premiums. Learn more about insurance here.