Every year homeowners explore new ways to keep their premiums low and get the best coverage options out of their policies. While some may look at bundling new or existing services, or simply raising their deductible, there are more substantial measures you can take to keep those rates low for years to come. We call it preventative homeowner measures, and they can do wonders for homeowners that want to get the most out of their insurance coverage at the lowest cost possible. All wise homeowners investigate some form of preventive homeowner measures, and each year they choose certain projects to focus on based on their budget. You too can make similar decisions that will positively impact your property. Here are some of the top preventative homeowner measures we recommend and why.
The difference between Market Value (sales price) and Replacement Cost (insurable value).
The Real Estate Market in Colorado is booming, and as a result the value of many Colorado homes is going up. New home buyers are seeing the price of the homes they buy go up as well. Homeowners insurance is an important part of the equation of buying a new home, and in a market like we’re seeing in Colorado, it can bring up some confusing situations. Today we’d like to address a common question we receive from those who just purchased a home: “Why Am I Insuring My Home For Half Of What I Just Paid?”
Homeowners insurance can be one of the most confusing policies available, but you’re not alone in navigating this important coverage option. Every new homeowner has plenty of questions about their coverage and policy details. Even customers who have had homeowners insurance for years on end still come to us with questions, which is great because there are always ways to improve your existing coverage. Whether you’re a new homeowner or a long standing customer, it’s important to get all your questions answered. We’ve selected some of the more confusing elements of homeowners insurance and posted questions and answers below. Learn more about the top homeowners insurance FAQS below.
Colorado, like many states, is full of beautiful old homes. While many homeowners in Colorado are buying new and modern homes, there are several reasons why a buyer might prefer an old home. Unique classic architecture, solid building materials like brick and quality wood, and a desirable location can all be reasons to invest in an older home. Of course maintaining and insuring an older home can offer unique challenges, but not ones that are insurmountable for homeowners. Let’s examine the unique demands of insuring an older home.
Homeowners insurance is a must-have for any homeowner, be it a first-time owner or a long time owner. We shop for it with certain events in mind. Fire, water damage and theft are the primary incidents that homeowners worry about, but this coverage can also help with events like liability for injuries and damage to a neighbor’s property. What you may not realize is homeowners covers several circumstances that you probably never think about, but may need in the future. Here are several items you didn’t know homeowners insurance covers.
One of the most common mistakes insurance customers make is also the easiest to fix, and it has to do with insurance records. Record keeping is extremely important both when you first set up your insurance plan and whenever you file a claim. Yet all too often insurance customers fall short in this aspect. You don’t have to join the ranks of customers who don’t keep proper insurance records. These tips will help you maximize your coverage and keep your records accurate year after year.
Probably the common question in homeowners insurance is how to save money on monthly premiums. Of course every homeowner needs insurance, but owning a home comes with several other costs. A homeowner has to balance these other costs with the price of insurance. There are several ways you can lower your premium, from installing a home security system to simply bundling your home coverage with other policies like auto. Today we’re going to focus on an important savings question: Should you raise your homeowners deductible to lower your premium?
It is common for customers to have some degree of misconception about their insurance coverage. Whether it’s homeowners, auto, or other services, insurance can be complicated. While it’s common to be confused about certain policies, it could cost you big if you don’t correct it before an accident or claim. Now is the time to get educated. You can still change or swap your coverage to meet your needs. Below are the most common insurance misconceptions and suggestions on what you can do if you were counting on something in the policy that isn’t true.
The aftermath of a hail storm can almost feel like a bomb went off. Broken glass, fallen tree branches, shattered siding, and vehicle dents are a common sight after the storm has passed. May hail storms are a common threat in Colorado as well as other parts of the country, and the Denver just experienced a real doozy with baseball-sized hail falling in the metro area. So what do you do when a serious hail storm strikes your home and automobile? We’ll walk you through both types of hail damage claims.
Ah, spring in Colorado! The weather can be beautiful as the flowers start to bloom and the plants turn green once again. However, violent storms, both snow and rain, often roll off the mountains this time of year. As we all know, these storms can create some serious problems over the next month or so. Before the next big storm hits, get ready for the spring with these tips on how to prevent spring hazards like water damage.