So Why Home Owner Insurance?
So you purchased a house. Congratulations! Buying a home is a big step in anyone's life and a great investment. Now it's time to protect your investment by purchasing home owner insurance.
Home insurance is an insurance policy that covers your house, the garage, other related structures, and also personal possessions inside the home against damages caused by everything from fire to natural disasters and even theft. Different home insurance policies offer different levels of coverage. An all-risk policy, for example, covers your home and your property against any and all disasters or theft. However, just like with any insurance policy, the higher the coverage, the higher your premiums.
Home Owner Insurance and Coverage
Many lending institutions mandate mortgage clients to have a basic level of home owner insurance to receive a home loan. This requirement guarantees them that in the case of a catastrophic event, their mortgage balance will still be paid out. But you don't need to stop there. Depending on what specific items and areas of your home you want protected and in what type of event (i.e. earthquake, fire, theft) you want your home protected in, you can increase your home insurance coverage above and beyond the level required by the mortgage company.
The price of your home is fundamentally where you begin when deciding on the level of coverage for your home. So, you need to first establish the amount it would cost to repair and/or rebuild your home. Once that amount has been established, insure your home for that amount. Some home owner insurance policies also automatically adjust the level of coverage each year to take into consideration appreciation and the increased value of your home.
Home Owner Insurance and Personal Property
Remember, protecting your home is not the only reason to get home insurance. Different levels of coverage can also protect the items in your home. It you want to protect your home and everything in it, take inventory of your personal property, including furniture, high-end electronics and appliances, and anything of value. This will establish a value for all items in your home. Take this value and add it to the coverage level of your home insurance policy. If you can't afford that amount of coverage, take a percentage of the overall value of your personal property and adjust the level of coverage based on what you can afford and what you'd want replaced. If you want to protect your personal property, you need home owner insurance.
Home Owner Insurance and Pets
Believe it or not, your pets play a part in why you need home owner insurance and in deciding the level of home insurance coverage you choose. That's because your pets can cause damage to your home and injury to others. Different levels of home insurance coverage also cover injury in the home and protect you against lawsuits. If you have pets, remember that they can lead to damage and injury; so invest in home insurance and choose your level of home insurance coverage accordingly.
If you want to protect your home and your family, you need home insurance. It covers you when the unexpected occurs. Without it, you could end up losing everything.
Got a Question? Ask.
Ask the community a question about this article:
Frequently Asked Questions
When are muscles in season?
By: cocoahas | 19-07-2008
when are muscles in season?
Harley Davidson Exaust Design
By: vern | 19-07-2008
Why on 2006 Electraglide does the rear Cylinder exaust pipe split and exaust down though both the right and left pipes, when the front cyclinder only exausts down the right side pipe ? Thanks.
Market Value Home Insurance
By: highland | 21-06-2008
Looking for market value home insurance not replacement value.Our home is a 165 years old and can not be replaced.Also our fire dept. is only a mile away and all utilities have been upgraded in building.Our insurance company is hosing us.Anybody have sugestions?Thanks Bill
A few questions about Israeli history
By: MondoBread | 05-01-2008
How many Israeli soldiers died from 1948 until today? How many civilians died in terror attacks since 1948? And, since 2000, how many civilians have died in terror attacks? Thank you so much for your help!
Vote
By: sert124 | 11-11-2007
Why can't I vote on the article and I haven't voted yet?
What is one childhood fact of rutherford b.hayes ...
By: shebanala2 | 24-10-2007
what is one childhood fact of rutherford b.hayes,our 19th president?.
Q&A Powered by:
Latest Advertising Articles
During Shaky Tmes, Be Careful What You Cut
By: Robert Schumacher | 19/08/2008
When the going get rough, small business owners and managers correctly cut expenses. Advertising should not be one of those cuts. A shaky economy offers an ideal opportunity for the small business to gain market share if they hang in and continue to advertise.
Grow Your Online Business With These Offline Marketing Tips
By: Deep Arora | 19/08/2008
Starting an online business is easy, but attracting ever increasing traffic is not!
Making the Right Choice to Save Thousands on Your Mortgage
By: Jim Thornton | 18/08/2008
When you are thinking about refinancing or renewing you mortgage the first thing that comes to mind is the interest rate. The lowest rate is not always the the cheapest or the best choice. The right mortgage specialist can give your options to make the right .
Everybody Talks About The Demise Of Advertising Agencies. But Are We Seeing The Demise Of Brands?
By: Gad Romann | 15/08/2008
Explore new ways to glean brand meaning and new ways to create brand narrative
Hollywood Stars As The Brand Promoters
By: Victor Epand | 15/08/2008
The above article explains how manufacturers use Hollywood stars to promote their respective brands. It also tries to assess how much they influence the customers or the buyers.
Why Should Customers Trust Your Online Company? Marketing Tips from Owner Builder Loans
By: Chris Esposito | 14/08/2008
For small businesses, online marketing can be the primary means of finding new customers. But, potential customers have grown more skeptical of online companies as it has become almost too easy for anyone to maintain a website. Use these tips from successful online marketing of owner builder construction loans to design your business's website in such a way to build trust with your customers.
Learning How To Sell Online
By: Jerry Work | 13/08/2008
When it comes to online selling, two options make up the bulk of online sales: online auctions and online classified ads. Both markets are quite effective for used goods, and most auction sites allow the seller to start an Internet store on the site as well.
Internet Marketing 101 for Beginners
By: Chris Simpson | 13/08/2008
Internet marketing knowledge is an essential if you want to take your business in the virtual world, and actually succeed at it. Internet marketing, simply put, is the process of advertising online.
More from Brad Stroh
Options To Consolidate Credit Card Debt
By: Brad Stroh | 18/11/2006 | Advice
Consolidate Credit Card Debt
When managing your existing credit cards seems overwhelming, one effective way to ease both the financial and emotional burden of the cards is to consider the option to consolidate credit card debt.
Understanding A Second Mortgage
By: Brad Stroh | 13/11/2006 | Mortgage
If you're in need of additional funds and you own a home, you may have the opportunity to borrow against your home through a second mortgage.
A second mortgage is another name for a home equity loan.
How To Choose A Real Estate Agent
By: Brad Stroh | 31/10/2006 | Advertising
If you're selling a home, you need a licensed real estate agent. It is feasible to sell your home on your own (i.e.
Debt Counseling Tips
By: Brad Stroh | 31/10/2006 | Advice
Demand for debt counseling is at a record high; 17 straight quarterly fed rate hikes, slowing home values (harder to get a debt consolidation loan), rising tuition costs, rising gas prices, bankruptcy reform... the list of consumer catalysts into debt couns
How A Reverse Mortgage Works
By: Brad Stroh | 31/10/2006 | Mortgage
Ever wonder how a reverse mortgage works? For folks that have lived in their home for a long time, they may very well be sitting on a gold mine.
Get Your Credit Report
By: Brad Stroh | 28/10/2006 | Advice
Get Your Credit Report & Analysis
It is very important to get your credit report and analysis.
Student Loan Advice And Information
By: Brad Stroh | 28/10/2006 | Advertising
Student Loans
For many students, the dream of getting a higher education just isn't possible without the financial aid of a student loan. Fortunately, there are many opportunities out there to apply for and receive a student loan.
Home Equity Basics Explained
By: Brad Stroh | 11/10/2006 | Advertising
What is Home Equity?
Purchasing a home is a huge event in anyone's life. It's an investment that, over time, will yield you a significant profit. As the years progress, the value of your home will increase.
Advertising 
