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Homeowner’s Insurance: What Should You Know?

Owning a home is a big thing which is why having home insurance helps you cover the risks. When you have a home policy, it protects you against many issues that may affect your property. This policy (Homeowners Insurance Georgia) usually covers the damage to the structure and also offers numerous other protections as well. http://bit.ly/2ZgRmkp

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Homeowner’s Insurance: What Should You Know?

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  1. Owning a home is a big thing which is why having home insurance helps you cover the risks. When you have a home policy, it protects you against many issues that may affect your property.

  2. So What Does It Cover? This policy (Homeowners Insurance Georgia) usually covers the damage to the structure and also offers numerous other protections as well.  You can also include insurance coverage like furniture electronics and jewelry. Then there is liability coverage which is also a part of the policy. If anyone is injured in your home, the legal costs and the lawyer fee will be covered in the policy document.

  3. Can Your Home Be Insured? Your insurance agent may need a lot of information from you to give the best rate for the policy. To determine the insurability you may need to answer some of the following questions: • What is the age of the home? • How old is the utility fixture, e.g. plumbing and the electricity • What is the area of the home? • Did you file any claims in the past few years? This information may be crucial as the insurance history matters in getting the new insurance. • What is the location of the home? The homes which fall in the rural area where there is no fire hydrant, you may not get the insurance at all. If that happens, then you will have to ask for another quote from the company which is specific to your needs

  4. What Kinds Of Deductibles Are Available? You will have to get the detail from the agent on this. The range of deductible starts forms USD 500-10,000. When you have a higher deductible, you will get more discounts. You need to check with the lender about it before opting for the amount as many companies don’t offer more than USD 1000 in deductible.

  5. What should be the Insurance Coverage Amount? Your agent may use an insurance calculator to arrive to find the cost replacement estimate. It makes sure that your home is insured for the correct amount. You may not get insured for the total amount you paid for the home as the insurance company may cover only the home and not the land. These days you get the replacement cost coverage. It means the insurer will give some additional coverage on top of the insured amount. It is there to cover the extra cost of rebuilding the home. Most insurance agents recommend 200% replacement cost coverage which doubles the coverage.

  6. Before deciding on the homeowners’ insurance in Georgia or any where else, you should know the policy options and also what is not covered.

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