Home insurance, is coverage against threats, hazards, and accidents that threaten homes, families and their property. But the problems homeowners usually face, is how to get cheap home insurance. For this reason, they have to bounce between websites to find and compare quotes before buying home insurance.
The truth is, homeowners have a control of what affects their home insurance policy upward or downward. Here are some of the factors that affect your home insurance rate.
- The type of structure
- Market value of the house
- Security of the location of the house
- Security and safety devices installed in the house
- The extent of coverage
- The type of policy
- The lifestyle of the homeowner
- Nearness or distance of the house to a fire station
- The vulnerability of the house to theft,o r fire
- The age of the house
- The number of occupants
- The Insurance Company of choice
You need also to know about Home Insurance Policies
There are classes of policies available for homeowners to choose from, namely;
- Basic Homeowner Policy: This covers a home against 11 listed perils. Contents are included, but must be listed explicitly. The perils include, fire, lightning, windstorm, vandalism, theft, damage from automobiles or aircraft, civil commotion, glass breakage, smoke, volcanic eruption and personal liability.
- Broad Form Homeowner Policy: This is more advanced and covers 17 listed perils, including the ones in basic policy
- Special form Homeowner Policy: This is a typical most comprehensive policy for single family homes. It covers all risk with exception of earthquakes and floods
- Renters Insurance: This is also known as the “tenants” form. It covers personal property.
- Premier Homeowner Policy: This covers the same as the special form homeowner policy plus more.
- Condominium Policy: This covers a property that is separately owned , but built together such as block of flats.
- Older Houses: This covers older homes where replacement cost far exceed the property market value.
Coverage: There are also classifications of coverage’s based on American Association of Insurance Service Specification. Coverage’s are classified as; Dwelling, Other structures, Personal Property and Additional living expenses.
There are other factors though, and information to help you in accessing a cheap home insurance.You can get the best professional advice by requesting for your home insurance rate now using http://www.easybuyhomeinsurance.com/.
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