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How to Buy Home Insurance
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Posted On :
Feb-05-2015
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Article Word Count :
471
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Congratulations! You have just bought your first home. Now it is time to look at a way of insuring it. A home is clearly the largest investment that people make over a lifetime. This is why a comprehensive home insurance policy is a necessity for every home owner who wants to protect his precious asset from mishaps and calamities.
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However, buying home insurance does not mean that you unthinkingly choose just any insurance policy. You need to find a policy that adequately safeguards your priceless property and possession and provides cover for burglary, theft and household contents. Here are some valuable tips on how to buy home insurance that protects your home and the contents inside.
Tips to Buy House Insurance
Look for a Better Deal
Thankfully with price comparison websites and online availability of quotes, it is easier to shop around for the best deal and the lowest premium. Although home insurance policies may not be as hotly price competitive as motor insurance, it is still easier to save quite a few bucks by comparing various quotes online.
Compare Policies and Coverage
When you are shopping for an insurance policy, do not just fall prey to rock-bottom prices. Instead look for the best policy for your needs that provide the coverage you need. For example, check if the policy covers only the property structure or does it also cover personal property which would include tangible property such as furniture and electronics. If you have antiques and jewelry, then check whether they are covered by your house insurance. You also need to check the policy deductibles. Lower deductibles would mean higher premiums and vice-versa.
Check the Add-ons
Check if the home insurance provider gives add-on covers to customize your policy. For example, Bajaj Allianz My Home policy provides some great selection of add-on covers for customizing the policy. This includes covers such as keys and lock replacement, lost wallet cover and ATM withdrawal cover.
Make a Note of the Exclusions
Check the policy wordings for the exclusions under the policy. There are many insurers that do not cover loss caused by depreciation or wear and tear. Willful destruction of property or loss caused by war, invasion or foreign enemy hostilities is also not covered.
Guard Against Underinsurance
Like any other insurance policy, your home insurance policy also needs to be checked every couple years to ensure that you are adequately covered. If you do not check this, you may end up being underinsured. If you need to file a claim in such a situation, the amount will be far less than what you were expecting.
Choose a Reputed Insurance Provider
A house insurance policy with low premiums and loads of features may look extremely attractive. But all this would not really be useful if you do not get the benefits when you need it the most, while filing the claims. The test for an insurer’s response to the customer is how well it handles claims. It is important to opt for a provider with a good history of resolving claims and excellent customer service.
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Article Source :
http://www.articleseen.com/Article_How to Buy Home Insurance_311882.aspx
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Author Resource :
To Buy Home Insurance online, Click Here!
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Keywords :
house insurance, home insurance,
Category :
Home and Family
:
Home Security
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