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Home Insurance

Thursday, May 28, 2015   /   by Matt Chase

Home Insurance

When you buy a house, an important thing to have is home insurance. This is true for all big purchase items. Today I will discuss some important items or tips in regards to home insurance.

A homeowner should shop around for a policy. Get reviews and recommendations online, and from friends or relatives. A great rate is a wonderful thing, but look for great customer service too. You can even potentially lower your rates if you bundle with your auto insurance. Other times rates can even be lowered if you have working smoke detectors or alarm systems. Just be sure to do your research diligently.

A homeowner should always ask what their insurance covers. Most insurance covers damage to your home from storms, fire, theft, and vandalism. It also includes liability insurance, and can also cover hotel costs if displaced from your home due to damage.

What insurance doesn’t cover: some standard policy exclusions include earthquakes, power failures, war, nuclear hazard, government action, faulty zoning, bad repair or workmanship, and defective maintenance. You should read in detail all the information that comes with your policy.

You should report claims as soon as possible as some companies have a time limit. Also, you shouldn’t wait on certain things, such as water damage. You can induce more damage due to mold growth. A homeowner should keep records by documenting everything that occurs during a loss. This includes saving receipts, contracts, appraisals, and documenting phone calls.

If you or someone you know is interested in selling a home, specifically in the Lorain or Cuyahoga counties, feel free to contact us at Chase Group- Keller Williams Realty, Greater Cleveland West online here or at 440- 452- 2000.