The Insurance Information Institute
warns against cutting your homeowner's insurance during hard economic times. Being under-insured can cost you more in the event you have to make a claim.
Be wary of the following:
- Insuring a home for its real estate value rather than the cost of rebuilding.
Selecting an insurance compnay by price alone.
- Dropping flood insurance if in an area wher it is not required by the lender, but ther is a chance of flooding.
- For renters, neglecting to purchase renter's insurance.
In most situations, Homeowner's Insurance is not an option, it's mandatory. Most lenders require insurance to be provided by the owner, and if the owner fails to provide what the lender wants, they can provide coverage but at a premium price for the owner. Please avoid that at all cost, insurance is expensive enough.
What you can do to lower your insurance premium.
- Policy discounts - check with your agentInstall additional smoke alarms and fire supression systems
- Make sure your agent services your policy annually - they may find deductions that wer not there previously
- Take a higher deductable out just like you would do for your auto insurance
- Have a security company service your house with an alarms systems and break-in notification
Homeowners in Bryan and College Station take a moment, analyse your insurance needs and make the changes where needed.A standard policy covers the structure of the house, your personal belongings (with certain limitations), liability to others, and living expenses in the event your house is unlivable. Please contact your insurance agent and ask questions about what they offer, what discounts are out there that you may be able to take advantage of, and shop around!!! Bryan and College Station have a wealth of great insurance agents ready and willing to provide you with any and all the information you need to make an educated decision. Don't take a chance on being under-insured or without insurance, the consequenses are enormous.
I am here to help every homeowner with all their real estate needs. Call me, I can help!!
Joey Condon, Realtor