3 Things You Should Know About Home Insurance

More than three-quarters of people who purchase a homeowners’ insurance policy don’t understand its features or ways they can use it to save money on their insurance premiums. Below are the top three things that you should know about a home insurance policy before you sign that contract.

Your Homeowners Insurance Does Not Cover Every Damage That May Occur

Your Texas homeowner’s insurance policy will provide you with a broad range of protections including comprehensive coverage for the structure of your home, loss of use, liability, and loss of personal belongings but it doesn’t cover everything.

Agencies such as StraightEdge Insurance Agency in Georgetown, TX state that they only cover sudden and accidental events. This means that if you have been ignoring a roof leaking for months, then it damages something in the house, such damage won’t be covered. Specific disasters such as floods from groundwater and earthquakes are rarely covered in a standard home policy.

Your Credit Score Can Affect Your Insurance Rates

Your credit score can determine your policy rates which affect your insurance premiums. Having a good credit score saves you a significant amount of money on your home insurance policy in Georgetown, TX. Massachusetts, California, and Maryland are the only states that prohibit policy providers such as StraightEdge Insurance Agency from using your credit score to set your home insurance policy rates and premiums. 

There is Always a Deadline to Making a Claim

Don’t wait too long before you file your claim in the event of damage or disaster. Most of the home insurance policies have a window period of 14 days for reporting an incident and filing your claim. Don’t wait for the damage to worsen hoping that you will get a better compensation.

For more information, reach out to our offices in Georgetown, TX to have your questions answered. Also, try our online rating tool for quotes on home and auto insurance.