Phoning Home: When to call your home insurance provider

Phoning Home: When to call your home insurance provider

Humans are a resourceful bunch. Since the dawn of civilization, insurance has existed in one form or another. Close knit communities formed as a way of dealing with the unexpected. If a house burned down, neighbors were expected to care for the family as the home was being rebuilt. With the dependence of technology rather than a community to help, car insurance Miami has come to the rescue in addition to home insurance.

 

The math of the policy

The general rule of thumb is to make a claim only every ten years or your rates will increase. This rules helps prevent fraud and the hysterical from constantly being on the phone with agents. Every claim can trigger a premium increase, so it is best to be discerning. Major damage should be reported rather than those that are minor in nature.

 

Repair or replace

To keep rates low ask yourself when you could repair or replace something on your own. This concept is not to say that you should not call your insurance company, rather it is just a way of maintaining your home. If a storm comes into your town and breaks a few windows, you can pay for the repairs out of pocket should the project cost less than your deductible. Consider filing a claim only when repairing or replacing is too much for you to handle on your own.

Fire

A fire that requires the police and firefighters should be made known as it relates to your policy. Any event that requires outsiders to deal with should be reported. Most of the time a small grease fire can be addressed a few coats of paint and consistent ventilation.

Maintain

Your home is a real possession. With that in mind, maintenance is key to providing a safe environment. Clean out gutters and secure shelves. These tweaks can save you major hassles in the long run. Once a year, most do it during the tradition of Spring Cleaning, inspect your home.

Theft

Some homeowners have priceless works of art that need permission to rearrange. If stolen or damaged the policyholder must tell their agent immediately. In this particular case, the theft would most likely be more than the deductible.

Exclusions

Most policies have exclusions. They may exclude mold, acts of terrorism, flooding, and sinkholes. Be aware of what exclusions may be and how they fit into your region. A home in Miami, Florida requires hurricane coverage. A home in California needs to be concerned with wildfires. Read up on the exclusions may be surprising.

Takeaway

Home is where the heart is. While we no longer live in the mind frame that our neighbors will help us out, insurance gives us that much-needed peace of mind. Claims should be filed if the repair or replacement value exceeds the deductible. In essence, minor damage can be handled privately, while major damaged should be phoned in right away. A good rule is to make a claim if police or firefighters had to be called in to handle the situation.

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