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January 24, 2011
Office to open in New Orleans, LA
Valley Financial Corporation is now accepting resumes for our New Orleans, LA...
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January 3, 2011
New Office in Atlanta, GA
We are pleased to announce that we have opened another office in the Atlanta, GA region...
Home InsurancePhoenix, Arizona Home Insurance Company
Shopping for a new house is an exciting experience but a little preparation is necessary. This checklist is designed to help new homeowners get a better understanding of the important role insurance plays in the process.
When starting to look for a home, put insurance at the top of your “to do” list. Most lenders won’t provide a mortgage without homeowner’s insurance coverage.
Factors That Affect The Cost Of Homeowners Insurance
- The square footage of the house and any additional structures, such as a detached garage.
- Building costs in your area.
- The physical condition of the home, the type of construction, features (pool, wood-burning stove, etc) and materials used in building the home.
- The frequency of property crime activity.
- The distance the house is to a fire hydrant and fire station, and any factors that might hinder firefighters from extinguishing a fire.
- The condition of the plumbing, heating and electrical systems in your home. These systems can wear out and become unsafe. Recent upgrades make a home safer and less likely to sustain fire or water damage.
- The likelihood of damage due to a disaster, such as a wildfire or windstorm.
- Your demonstrated willingness to fix “wear and tear” problems in previous homes you’ve owned or rented will result in lower rates.
- Your credit history. Many companies offer lower rates to those who’ve demonstrated the ability to handle their finances responsibly.
What Homeowners Insurance Covers
- The typical policy covers damage from fire, windstorm, hail, water damage (excluding flooding), riots, explosion, other sudden and unexpected losses, theft and the extra cost of living elsewhere while your home is repaired or rebuilt.
- Your legal liability (up to policy limits) if you, members of your family, or your pets hurt other people or their property.
- Contact your insurance representative. Before making an offer on a home, ask an insurance representative about homeowners insurance.
- Shop for insurance coverage. The cheapest policy is not necessarily the best one. Select a company that provides good customer service, the coverage you need, and has a reputation of paying claims fairly.
Partnering With Your Insurance Representative
Make sure the amount of coverage you chose can cover:
- The cost to rebuild your home if it’s destroyed by fire or another disaster covered by your policy.
- The cost to replace your personal belongings.
- The cost to protect your assets if someone is injured on your property.
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