Home Insurance Checklist

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  • Check to see if any claims have been made concerning the property you are looking to insure. Also take into accounts any claims you have ever filed on a home insurance policy.
  • Your credit score can affect your home insurance rates. Check to see if there is any incorrect information which should be disputed.
  • The weather patterns where you live can determine what special features your insurance policy should have.
  • A new roof will generally get you a discount on insurance.
  • An already damaged foundation can mean expensive repairs are coming, and a higher premium to pay.
  • Older plumbing and electrical can also cause a hike in premiums.
  • A pool or wood burning stove can increase liability or fire risks and result in a higher premium or the need to carry extra coverage.
  • Homes located in coastal areas or flood plains will need flood insurance specifically included in their policy.
  • Almost any house should be covered in case of fire, but some insurance companies will try to exclude it hoping you won't notice.
  • Some companies will put fire coverage through but exclude smoke damage.
  • If your home sits on or near a fault, make sure you are covered in case of a quake.
  • These are common in some areas, and should be insured against.
  • Coastal regions can be extremely susceptible and homes should be covered.
  • This is extra liability coverage that protects you in case someone is injured on your property and sues you.
  • If the city or county you live in mandates a code upgrade, you can be stuck trying to afford necessary renovations. You can purchase a special rider to cover such an event.
  • You want insurance that will cover the cost of constructing a new home, not just a policy that pays off your mortgage.
  • You will need to list all of your belongings- not just jewelry and other high ticket items. If your clothes burn up, they will need replacing too. Buy replacement coverage, not market value.
  • Purchase extra coverage that can cover a rental while you are homeless.
  • A flat rate deductible is best, and a higher deductible means a lower premium.
  • You can receive discounts for alarm systems, deadbolts and other security features.
  • Smoke and CO2 detectors, fire extinguishers and sprinklers can also garner a discount.
  • If you insure your home and auto through the same company, you can often receive a multi-policy holder discount.
  • Many companies offer discounts to people over age 55.
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