It can be a daunting task to make your way through the many Georgia home insurance companies and fully understand what they offer in the way of coverage. You should carefully consider all the facts, especially when you realize that for most people, their home is their greatest investment. It is also most people’s greatest financial asset. So it is wise to make smart choices when it comes to formulating a policy that is right for you and your needs.
Many consumers don’t know a lot about Georgia home insurance and once they have purchased a policy, most tend to stay with the same insurer, year after year. Like all insurance policies, your home insurance coverage needs to be reviewed annually (or perhaps more often, depending on your circumstances).
It’s easy to forget that things you purchase for your home add value to your personal property, so the cost of replacing these items, whether due to theft, fire, smoke or water damage, can all increase substantially.
Also, improvements and/or additions you make to the structural property itself can increase its value and the amount of coverage you have with your policy may need to be increased accordingly. We are all aware of the problems many people had with their claims after natural disasters destroyed much or all of their property.
Unfortunately, many consumers are unaware that specific coverage for earthquakes, hurricanes, etc. are oftentimes considered “extra” and as such, they have to be written into your policy separately and at additional cost. You will need to consider Georgia home insurance to protect you in case of theft, also.
Most people greatly underestimate the replacement cost of all their possessions. And again, if you own high value jewelry pieces, artwork, antiques or the like, you may be required to list these items separately and have appraisals and photographs on file with the insurance company.
Remember that renters need Georgia home insurance, too! Your personal property has value and you need to protect it in case of theft or damage due to fire, storms, etc.
When you have read the following article and decided on the type of policy you want, contact the people at insuranceUSA.com. They will offer you reliable quotes for the policy that is right for you!
Choosing Your Georgia Home Insurance Policy
There are several things to keep in mind when you are choosing your Georgia home insurance policy. First of all, you need to decide if you want a monocline Georgia home insurance policy or a package Georgia home insurance policy. The monoline policy gives you just one type of Georgia home insurance coverage. For instance, monoline Georgia home insurance often only covers liability.
A package Georgia 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 Georgia home insurance policy.
There are 7 different types of Georgia home insurance policies. It is important to known which one best fits you needs and requirements for a solid Georgia home insurance policy. The seven types are Georgia home insurance policies are:
1) Homeowner’s 1 (HO-1) policy: This type of Georgia home insurance policy is actually offered by very few companies because it covers such limited options.
Covered by an HO1Georgia 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.
2) 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.
3) Homeowner’s 3 (HO-3) policy: This is also called a Special Form Policy and it is becoming the most used Georgia 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.
4) Tenant/Cooperative Owner’s (HO-4) policy: This Georgia 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.
5) Homeowner’s 5 (HO-5) policy: This Georgia home insurance policy covers everything in the HO-3 policy, plus the physical loss of personal possessions, except for those specifically mentioned.
6) Condominium Unit Owner (HO-6) policy: This Georgia home insurance policy is designed for condominium units, and includes all coverage as HO-4.
7) Homeowner’s 8 (HO-8) policy: This Georgia 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 Georgia home insurance policy that is right for you!
How Much Georgia Home Insurance Do you Need?
You may be asking how much Georgia home insurance do I need? The answer is only as much as needed to cover a loss but not so much that you can’t afford the premiums.
Most insurers will ask you have your house appraised by a professional home inspector before they’ll write you a policy. Furthermore, you will want to compile an inventory of all your major possessions such as furniture and appliances. Hang onto your receipts and take photographs. Also, update your policy at least once-a year or whenever you make any changes.
Should you ever have questions or concerns about your Georgia home insurance, make sure you contact your insurer for answers. And remember, InsuranceUSA.com is a great place to research Georgia home insurance and request a free quote!
Non-Renewals and Policy Cancellations
Once you enter your Georgia home insurance policy “term period”, it cannot be simply cancelled or not renewed. In most cases, an insurance company must provide coverage for the entire term period regardless of the risk.
However, if the policy-holder fails to pay his premiums or files a false claim, the insurer can legally cancel a policy during the term period. Also, a felony conviction will usually warrant cancellation, or if unsafe conditions exist at the property or it is altered or made uninsurable.
In most cases, once the policy term period ends, the policy-holder will continue to enjoy uninterrupted coverage. If an insurance company does decide to cancel or not renew a policy, they can do so for any legal reason so long as they provide adequate notice.
Obtaining Good Georgia Home Insurance
When you begin to shop around for Georgia 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 Georgia 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 Georgia Home Insurance via the Internet
Shop around when you buy Georgia 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 Georgia home insurance using your computer. There are many good sites available to make your search for appropriate Georgia home insurance a fast and pleasant experience. Try InsuranceUSA for a hassle free insurance buying experience.
As with the more traditional means of buying Georgia 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 Georgia home insurance.
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