Homeowners insurance – how important homeowners insurance for your financial stability

By Adams Bridges

The Homeowners insurance is very important. Therefore, When you are in the market for homeowners insurance or your mortgage lender requires you to purchase home insurance before giving you the loan, you should bear in mind that cutting corners on the homeowners insurance to save money would eventually put you through a financial catastrophe, If your home which is your biggest valuable investment partially or completely was damaged through unforeseen mishap. On the other hand purchasing more coverage than necessary will lead you to the same financial consequences.

Homeowners insurance is not mandatory like car insurance. However, the majority of homebuyers across the country prefer to obtain a loan from mortgage lender in order to build or buy a home. Therefore, the mortgage provider or the bank will require you to buy homeowners insurance policy as a mortgage guarantee, before you receive the loan and start to build or purchase your new home. In most cases your lender chooses a particular insurance provider. Some other lenders let you choose the insurer.

Homeowners insurance is a must have not only as a protection from minor losses resulting from man-made disaster but also to compensate serious losses due to natural disasters. Unfortunately the standard homeowners insurance excludes most of natural disasters damage like flood, hurricane and earthquake damage. However, you have the ability to buy separate flood insurance from government insurance program also known as NFIP in case you live in flood-prone property. Earthquake or hurricane insurance rate depends on the common building materials and the likelihood of natural disasters in your area.

Your homeowners insurance carrier encourage you as a policyholder to reduce your dwelling vulnerability to theft and fire. Therefore, the insurance provider offers you security discount when you install theft deterrents like deadbolt locks and burglar alarm system. If you have fire protection systems such as smoke detector and fire sprinkler you are eligible for safety discount. The insurer would appreciate it if you update your electrical and plumbing systems to meet the standards code. While you're trying to be eligible for these discounts you make your family more secure.

Your homeowners insurance is a necessity. And, having an adequate coverage is the key to protect your home form damage.

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Insuring Savings With A Simple Checklist

Insurance needs change with age and circumstance, yet few people take the time to review their insurance needs and find savings to fatten their monthly budget. It is, though, one of the easiest ways to cut living expenses and save money. On the bright side, it takes just a phone call to switch policies, get a new quote, or change the terms of an existing policy. Here are a few things to check every year, to determine if you can save money on your insurance bills.

* Get new quotes – Every year, it pays to look around and see what other companies are offering for their insurance policies and costs. Just shopping around can save hundreds.

* Bundle your insurance needs – If you have your car with a company that also offers homeowners insurance, it can save you money on both, typically a 10% discount.

* Check your deductibles – If you can stand to have higher deductibles, it will lower your insurance premium.

* Opt out of term life insurance – Once your kids are no longer dependent on you for support, you can cancel your term life insurance policies. Otherwise, you should carry about seven times your income on term life insurance to take care of your kids in case you die.

* Go with a group – Are you a member of a group that offers special discounts on life insurance? Check them out. Members of the AARP, teachers, student body alumnae, retired, or military personnel all can find group discounts for being a member of any of these groups.

* Remove extras you don't need – If you already have towing benefits with AAA, there's no need to carry towing insurance through another provider too. Collision insurance is only good to carry for cars that are less than 10 years old, otherwise, it's the same as replacing the old car out-of-pocket (about $1000).

* Pay yearly or semi-yearly – You can save another 5 to 10% of the policy simply by paying ahead of time, instead of monthly. A few extra dollars a month to process the loan on a monthly basis may seem like little, but it can add up to 10% by the end of the year.

Home Insurance, Home Insurance Quote Progressive Insurance

Home Insurance Louisville, Home Insurance Quote Louisville KY

"Protect your house — and your possessions — with home insurance through Progressive. For homeowners, insurance protection is an important aspect of homeownership. Buying home insurance means buying protection for your home — both inside and out.

Progressive Home Advantage, underwritten by Homesite Insurance, offers home insurance, condo insurance and renters insurance to new and existing Progressive customers.

If you already know what kind of home insurance policy you need, get a home insurance quote today....." Home Insurance, Home Insurance Quote

Dick Watts Insurance
12200 Shelbyville Rd 112
Louisville, KY 40243

Call us for a Progressive Home Advantage quote. 502-245-3625

Home Insurance, Home Insurance Quote Progressive Insurance

Home Insurance Louisville, Home Insurance Quote Louisville KY

"Protect your house — and your possessions — with home insurance through Progressive. For homeowners, insurance protection is an important aspect of homeownership. Buying home insurance means buying protection for your home — both inside and out.

Progressive Home Advantage, underwritten by Homesite Insurance, offers home insurance, condo insurance and renters insurance to new and existing Progressive customers.

If you already know what kind of home insurance policy you need, get a home insurance quote today....." Home Insurance, Home Insurance Quote

Dick Watts Insurance
12200 Shelbyville Rd 112
Louisville, KY 40243

Call us for a Progressive Home Advantage quote. 502-245-3625

Urban League to help Louisville Foreclosures

Urban League to Help Louisville facing foreclosures :

"The National Urban League has selected Louisville as one of three U.S. cities to receive foreclosure prevention and job assistance from the organization.

The Urban League’s free “Home Rescue Fair & Career Fair” will be held Tuesday, Sept. 15, from 2 to 8 p.m., at the Kentucky International Convention Center, 221 S. Fourth, Louisivlle, KY" Urban League to Help Louisville Foreclosures

Home Insurance Louisville KY

502-245-3625

Urban League to help Louisville Foreclosures

Urban League to Help Louisville facing foreclosures :

"The National Urban League has selected Louisville as one of three U.S. cities to receive foreclosure prevention and job assistance from the organization.

The Urban League’s free “Home Rescue Fair & Career Fair” will be held Tuesday, Sept. 15, from 2 to 8 p.m., at the Kentucky International Convention Center, 221 S. Fourth, Louisivlle, KY" Urban League to Help Louisville Foreclosures

Home Insurance Louisville KY

502-245-3625

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Louisville KY Home Sales July 2009

According to Louisville Homes Blog, there was an increase in Louisville KY homes sales for the month of July compared to June 09. See the graph with sales by individual neighborhoods at
the Louisville Homes Blog. Also, according to the site there are 9,600 homes listed in the Louisville MLS read more: Louisville Homes Blog

Louisville KY Home Sales July 2009

According to Louisville Homes Blog, there was an increase in Louisville KY homes sales for the month of July compared to June 09. See the graph with sales by individual neighborhoods at
the Louisville Homes Blog. Also, according to the site there are 9,600 homes listed in the Louisville MLS read more: Louisville Homes Blog