Do You Know What The 7 Home Insurance Plans Are?Written by Tim Gorman
Most people don’t realize that there are 7 different homeowners insurance plans that insurance companies can offer. Each plan is different from other 6 based on circumstances that it covers. Additionally if consumers are familiar with any of plans it would be plans that involve parts of option 2 and option 3. You’ll see why as I explain each plan in more detail below. There are many different types of disasters that can affect your home but your standard homeowners insurance policy limits its coverage to 11 specific disaster events. They are damage from aircraft, wind and hail damage, damage suffered from explosions, riots and civil unrest, fire and lightning damage, vehicular damage, vandalism and theft damage, smoke damage and damage if your home decides to fall in on itself otherwise known as self-damaging instances. The final category is damage sustained when a volcano erupts. This standard list can include 6 additional categories of damage protection. They include falling objects, weather related incidents from snow, sleet and ice, electrical surge damage and finally water damage, which can be further broken down into 3 sub-sections of coverage. Home insurance policy 1 covers damage from 11 different scenarios mentioned above. Policy 2 include plan 1 but goes into greater detail in certain sections. If a tree falls and lands on your house it is covered in this policy section. If your dishwasher overflows or your washing machine busts a hose that would be covered under this section for water related damage. You’ll also find protection from a power surge or other damages as a result of electrical problems.
| | How Do I Lower My Auto Insurance Premiums?Written by Tim Gorman
It seems as though price of everything is on rise. The amount a house may have cost in early 70s is how much you will pay for a new car in 21st century. Oil companies have used problems in Southwest Asia as an excuse to send gas prices through roof. And cost of peace of mind when driving your vehicle knowing if you or your vehicle is injured in an accident you will be covered has become astronomical. So what can you do to lower your insurance premiums so you don’t feel as though you are paying a mortgage note in exchange for a vehicle and a car note in exchange for insurance? Consider how much coverage you really need to buy and price each of these coverages will pay. Think about collision and comprehensive coverage, which is how much you will be reimbursed for loss or destruction of your vehicle. Are you carrying $30,000 worth of collision coverage for a $12,000 vehicle? Is insurance company really going to give you $30,000 when your vehicle is only worth $12,000, unfortunately not? If you are leasing or financing your vehicle these coverages may be required however if you are driving an older car that has depreciated significantly you may want to consider saving on your premium by dropping this coverage. Before you drop it make sure you can afford to foot bill on entire cost of replacing that vehicle if it is lost. Think
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