A home is one of the greatest financial investments you will ever make. It is also one of the greatest financial assets will you ever have. So it makes sense when you are in the market for affordable, quality Washington home insurance that you choose a policy which adequately protects you and your investment.
Most people understand the importance of having a policy which covers damages resulting from natural disasters severe thunderstorms, wind, hail, etc. What many people don’t know is that many standard insurance policies consider damages from floods, wildfires, earthquakes, and tornadoes as “extra” and unless your policy is written to specifically cover these occurrences, you could be without coverage and not realize it! It is also important to include adequate protection from theft.
Many people underestimate the cost of replacing personal property. And again, if you have what might be considered “luxury” items, certain jewelry, antiques, carpets, etc. you may be required to list them separately (with actual appraisal amounts) to have full coverage in case of theft (or fire, smoke damage, water damage).
Finally, liability coverage is important and is a sometimes overlooked component of a well-planned Washington home insurance policy. This provides protection in case someone is injured while on your property.
Also, remember that there are things you can do to prevent loss and minimize the chance of damages. Some simple, yet important, steps you can take are to install smoke detectors throughout your home (and also maintain them), install a security system, place fire extinguishers in high-risk areas, and keep your yard and home free of debris. By doing this, you not only lower your risk of loss and damage, but you can also decrease the amount of your premium payments.
Once you have read through the article and have put together a policy which is suitable for your needs and circumstances, the people at insuranceUSA.com are standing by with Washington home insurance quotes that will allow you to finalize your selection.
Choosing Your Washington Home Insurance Policy
There are several things to keep in mind when you are choosing your Washington home insurance policy. First of all, you need to decide if you want a monocline Washington home insurance policy or a package Washington home insurance policy. The monoline policy gives you just one type of Washington home insurance coverage. For instance, monoline Washington home insurance often only covers liability. A package Washington 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 Washington home insurance policy.
There are 7 different types of Washington home insurance policies. It is important to known which one best fits you needs and requirements for a solid Washington home insurance policy. The seven types are Washington home insurance policies are:
Homeowner’s 1 (HO-1) policy: This type of Washington home insurance policy is actually offered by very few companies because it covers such limited options. Covered by an HO1Washington 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 Washington 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 Washington 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 Washington 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 Washington home insurance policy is designed for condominium units, and includes all coverage as HO-4.
Homeowner’s 8 (HO-8) policy: This Washington 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 Washington home insurance policy that is right for you!
How Much Washington Home Insurance Do you Need?
Purchasing Washington home insurance shouldn’t be a time-consuming process and you don’t need to buy so much insurance that you can’t afford the premiums. Always buy just enough to cover the value of your home if it is completely destroyed.
Many times an insurance company will require you to have your home inspected to determine its value. Homeowners will want to create an inventory of their possessions such as appliances and furniture. Update it yearly or whenever a major purchase is made. Also, always take photographs and save your receipts.
When it comes time to buy Washington home insurance, you can request a free quote from InsuranceUSA. Further questions on your policy can be answered by your insurer.
Non-Renewals and Policy Cancellations
When considering an Washington home insurance policy, you will want to know what the laws are regarding non-renewals and cancellations. Typically, your insurance company reserves the right to cancel your policy after the “term period” so long as it provides legal reason(s) for the cancellation. At the end of the policy term period, your insurer must give you notice if they are going to cancel or not renew your policy.
Typically, your policy is safe from cancellation for the term period except when one or several things occur including non-payment of premiums; felony-conviction; insurance fraud; willfully creating conditions, which threatens the safety of the insured property; and making changes to the property, which renders it uninsurable.
Purchasing Washington Home Insurance
The first thing to do when you decide to buy Washington home insurance is make sure that you are working with a company that is appropriately licensed. To find out if they are licensed to sell Washington home insurance just ask for a copy of their Washington license number.
Your next step will be to answer a list of questions that will give the insurer enough information to make sure that you are sold the appropriate Washington home insurance. It is vital that you answer the questions carefully and don’t leave anything out.
When you are looking around for an insurer make sure that you find out about the level of service that they provide. This is equally as important as the cost. The lowest price isn’t always good value.
Purchasing Washington Home Insurance via the Internet
Shopping around for good quality Washington home insurance is very important. You should get a minimum of three quotes. To gather the quotes you can use either the phone or the internet. The internet is a fast and easy way to do your home insurance research and to find the best deals without having to leave your house. The internet has become a key part of the home insurance sector. Insurance agents provide quotes over a growing number of comparison websites. All you need to do is fill in the online questionnaires and a quote will be returned to you at the click of a button. InsuranceUSA.com is a great place to start your search.
Remember that price is not the only thing to keep in mind when purchasing Washington home insurance. Companies that answer questions and deal with claims quickly and efficiently will be your best choice when buying Washington home insurance.
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