Home Insurance

Your home is one of your greatest investments. So it is important when you are searching the many Tennessee home insurance companies for whatever type policy you want, to be armed with the facts and knowledge that will allow you to make an affordable and sound choice.

There are many different types of Tennessee home insurance coverage and it is in your best interest to understand what is available and especially to formulate coverage that protects you and your home in the best way possible. Most consumers don’t think a lot about home insurance.

Like other types of insurance, your needs may change from year to year, depending on items you purchase (personal property) or perhaps upgrades and/or additions you may make to your property. These can all add value to your home, but it also means that you might need to increase the amount of coverage you have in case you ever need to file a claim. This is why it’s important to review your Tennessee home insurance policy annually (or more often depending on your circumstances).

Many people think of the normal types of coverage for their home insurance- fire, storms, earthquakes, etc. It’s wise to remember that many policies don’t include natural disaster-type coverage. They are considered “extra”, which usually means the specific type of coverage (flood, earthquake, hurricane) has to be added separately and also at an additional cost over the normal policy amount.

You want to make sure you have adequate coverage for theft, also. Most people woefully underestimate the cost of what they would need to fully replace personal property remember you have to think of all possible items- furnishings, clothing, jewelry, electronic equipment. Smoke and water damage from a fire can be almost as devastating as the fire itself, so you need to protect yourself reasonably when choosing your Tennessee home insurance coverage.

When you have read the following information and are ready to pick your personal policy, insuranceUSA.com is ready to assist you with quotes from many different sources so that you can choose the plan which is just right for you!

Choosing Your Tennessee Home Insurance Policy
There are several things to keep in mind when you are choosing your Tennessee home insurance policy. First of all, you need to decide if you want a monocline Tennessee home insurance policy or a package Tennessee home insurance policy. The monoline policy gives you just one type of Tennessee home insurance coverage. For instance, monoline Tennessee home insurance often only covers liability. A package Tennessee home insurance policy offers several different kinds of coverage, such as property insurance as well as liability. In general, it is more economical to buy a package Tennessee home insurance policy.

There are 7 different types of Tennessee home insurance policies. It is important to known which one best fits you needs and requirements for a solid Tennessee home insurance policy. The seven types are Tennessee home insurance policies are:

Homeowner’s 1 (HO-1) policy: This type of Tennessee home insurance policy is actually offered by very few companies because it covers such limited options. Covered by an HO1Tennessee home insurance policy are fire, lightning, smoke damage, windstorm and hail, burglary and theft, explosions, glass breakage, vehicle or aircraft damage, riot and civil commotion, vandalism and malicious mischief, bodily injury, damage to the property of others, civil judgments, medical payments, personal property away and at home, and expenses if forced to live away from home for a temporary period of time.

Homeowner’s 2 (HO-2) policy: This covers all the items in an HO1 policy, plus falling objects, damage from the weight of ice or snow, water from plumbing problems, freezing of the pipes and plumbing, electrical damage to appliances, and rupture of water heaters and heating systems.

Homeowner’s 3 (HO-3) policy: This is also called a Special Form Policy and it is becoming the most used Tennessee home insurance policy. This covers your home for all physical loss, except for those losses that are specifically not covered. These can include earthquake, flood and war.

Tenant/Cooperative Owner’s (HO-4) policy: This Tennessee home insurance policy insures against damage to the contents of an apartment and against personal liability from damage suffered in the insured person’s unit.

Homeowner’s 5 (HO-5) policy: This Tennessee home insurance policy covers everything in the HO-3 policy, plus the physical loss of personal possessions, except for those specifically mentioned.

Condominium Unit Owner (HO-6) policy: This Tennessee home insurance policy is designed for condominium units, and includes all coverage as HO-4.

Homeowner’s 8 (HO-8) policy: This Tennessee home insurance policy covers all the same items as HO-1, but gives cash coverage instead of replacement cost coverage. This is generally used when the replacement value of property exceeds the market value.

InsuranceUSA.com can provide you with all of the information you need to make the right choice for the Tennessee home insurance policy that is right for you!

How Much Tennessee Home Insurance Do you Need?
When you purchase Tennessee home insurance, you should inventory your possessions. Make sure you take photographs of your most valuable items such as furniture and appliances; and always hang onto your receipts. Update your inventory at least once-a-year or when you buy something new.

You will also need to know the value of your home and how much it would cost to replace if it is completely destroyed. Most insurance companies will have you obtain a physical inspection to determine your home’s value before they will write a new policy.

Always buy just enough Tennessee home insurance to cover your loss but don’t overdo it so you can’t afford the premiums. Be sure to ask you insurer any questions you may have or use InsuranceUSA to research a new policy and request a free quote.

Non-Renewals and Policy Cancellations
Tennessee home insurance has specific rules and laws governing how and why an insurance company can cancel or not renew your policy. Normally, homeowners need not worry their policy is going to be cancelled unless they warrant it for any or all of the following reasons:

  • Failure to pay premiums
  • Committing fraud or filing false claims
  • Being convicted of a crime
  • Changing the property so it is uninsurable
  • Altering the property so that unsafe conditions are created

Once the state-mandated term period has passed, an insurer may cancel or not renew a policy so long as they provide adequate notice and a legal reason or reasons for the action.

Obtaining Good Tennessee Home Insurance
When you begin to shop around for Tennessee home insurance you must first make sure that you know that the suppliers that you are considering are properly registered with the state authorities. The easiest way to check any insurer out is to simply request a copy of the State issued certificate that has their license number on it.

Once you start to work with a specific insurer they will present you with a survey to complete. The results of this survey will give the Tennessee home insurance provider the means to give you a good quote. The more information you include in the survey the more accurate the quote will be.

A low price doesn’t always guarantee a high level of service. Make sure that you are happy with the fact that the insurer you choose will be responsive in a timely manner if you need to file a claim with them.

Obtaining Good Tennessee Home Insurance via the Internet
Shop around when you buy Tennessee home insurance. You can use traditional means such as calling or using a shop front office but it is easier and more efficient to shop for your Tennessee home insurance using your computer. There are many good sites available to make your search for appropriate Tennessee home insurance a fast and pleasant experience. Try InsuranceUSA for a hassle free insurance buying experience. As with the more traditional means of buying Tennessee home insurance you will need to answer a series of questions for the insurer to be able to make sure that they have the right product on offer for you.

Speed of response and fair treatment when handling claims is as important as the cost. Make sure that you consider all of these factors when you choose your Tennessee home insurance.