It’s home-buying season! Be sure to keep your homeowners insurance during the switch.
Spring has well and truly sprung in Austin, Texas, leading many homeowners to put their home on the market and plenty of deals are closing. During the midst of planning, packing, and organizing the move, it’s easy to forget about your homeowners insurance coverage.
Now, more than ever, is the time ensure that you have your homeowners insurance coverage maintained – and for the right property! Should you move house and your new home suffers from a fire or theft and your homeowners insurance policy has not yet been switched, you’ll be left with a hefty expense of repairing and replacing your belongings – and wishing you’d sprung for coverage.
Time It Right
Ideally, call your home insurer before you put an offer in on a house. The insurer will be able to discuss the cost of insurance and some risks that you may face in buying that new home. The aim is to cancel the old policy on the data that you no longer have ownership of the property and start the new policy on the date that you have ownership of the new home.
Nine times out of ten, your closing date will get pushed back. Therefore, most insurance companies contact the homeowners after the closing to make sure that the house has actually closed.
In most cases, mortgage companies may request certain conditions in connection with the policy. Contacting your insurer early can also make sure that you don’t experience any setbacks with the lender.
Are you ready to receive all-encompassing homeowners insurance protection? Start your experience in your new home on the right foot by protecting your home and belongings! Visit the insurance professionals at the Insurance Agency of Dean Davis in Austin, Texas to get started on your home policy!
Jewelry Insurance Coverage
Inheriting a piece of jewelry from your grandparents can be very sentimental. However, it can also be very difficult to know just how much it is worth. While new pieces of jewelry will come with a receipt to prove the value, inherited jewelry will not, which can make it hard to insure. Knowing how to properly insure your inherited jewelry can help to make sure that it stays safe for many years to come.
The first step in insuring an inherited piece of jewelry is to get it appraised. Your insurance company will need copies of the written appraisal in order to decide on how much coverage you need. The jewelry can then be added to your homeowners or renter’s insurance policy as a scheduled item. When you schedule an item, it will be insured for the appraised amount, and will be protected from perils that non-scheduled items do not have, including mysterious disappearance coverage.
Typical renters and homeowner’s insurance policies have a strict limit on the amount of protection that they will provide for your personal property. If you have any valuable items, such as inherited jewelry, the policy will not be able to provide enough coverage. When you schedule an item within your policy, you can rest assured knowing that the piece has the right amount of protection. The policy will pay to replace any stones that fall out, and will pay the full-insured amount if they are not able to replace the item with a similar piece.
For all of your homeowner’s insurance needs when looking to protect your jewelry, contact the Insurance Agency of Dean Davis in Austin, Texas. We will work with you to ensure that you have the right amount of protection for all of your valuables, all at the right price.
When You Should File a Claim
You invest in homeowners insurance to ensure that your home is protected from any peril. However, making a claim for any damage may not be in your best interest. Filing a claim, even if it is small or not your fault can cause serious premium hikes for your home insurance.
No matter who is at fault for an accident or the size of the claim, any claim that you make with your home insurance company can lead to increased rates. There are many circumstances that are taken into consideration when your insurance company is deciding on the cost of your policy, including your credit rating, number of claims you have made in the past, and the frequency of natural disasters in your area.
Keep in mind that while any claim can possibly lead to rate hikes, not every claim has the same affect. More serious claims, such as dog bites, water damage, and mold claims will lead to much higher premium increases than less severe claims.
When deciding if you should file a claim, there are many factors to consider. Look into your policy to see if they offer claims forgiveness. Keep in mind that not every company will forgive the same claims, so if you switched companies, make sure to double check before you make a claim. If there is only minor damage to your home, such as a few shingles that blew off in heavy winds, you will probably be better off repairing it yourself. Large issues, such as if your roof completely caves in, should always be reported.
For all of your homeowners insurance needs and to ensure that you are properly protected, contact the insurance professionals at the Insurance Agency of Dean Davis in Austin, Texas. We will work with you so that you have the right amount of coverage, all at the right price.