Facebook September 2011

Thursday, September 22, 2011

Tante Maya Lampung

How to Find Affordable Homeowner's Insurance in Colorado

In addition to buying new draperies, carpeting and accent pieces, when you move into a new home, you need homeowner's insurance. Before your mortgage in Colorado is even funded, you need to show proof of insurance. It's a necessity and being prepared by having a list of what you need and don't need in a policy is a great first step. When you do start researching possible homeowner insurance companies remember these tips:

o Standard homeowner's insurance policies in the state of Colorado do not protect the home against flood damage. Many homeowners mistakenly believe their policy does, check this out and if you don't feel you need the extra coverage, don't purchase it.

o Install secure locks on all windows and doors in your home. Some insurance policies offer a discount for homes that have extra security in place.

o Choosing a cash value policy as opposed to a replacement cost policy can afford some savings in premiums as well.

o Having working smoke alarms throughout the house is another small tip that can save at least a little in premiums.

o Try not to make claims unless absolutely necessary. Over time, many companies will offer you a discount if you remain claim free. So if you accidentally break a window, think twice before applying it as a claim against your home insurance.

Staying aware of what type of coverage you have, what your premiums are for and how often you can renew, makes buying and maintaining home insurance much easier. Even though it's also great when you can save money, don't sell yourself short on how much coverage you really do need. You don't want to regret it should you suffer a fire or break-in. Although many of your personal belongings are indeed priceless, think clearly about what it would take to replace everything and look for the best priced policy that offers you that.

Article Source: http://EzineArticles.com/541518

Tante Wulan Bali

Insurance Tips on Homeowner Property Titles

In order to protect themselves from possible claims from other persons, the lenders will most definitely require a home property title insurance. The main reason for this matter is the fact that otherwise, the lender would risk loosing large amounts of money. So, why not thinking ahead about the worse and trying to minimize these risks? As a general rule, the lender will require a policy from a company that seems trustworthy to it. Therefore, the new house owner can freely search for and choose the best policy on the market that meets their own personal desires and money availability. The only thing that one must consider is whether the standards of the lenders are also met by their choice.

Therefore, in order to make the best decision in what a real estate is concerned, one must always keep his eyes and ears wide open. It is crucial to find out everything there is to know about a homeowner property title insurance policy. There are many services and limitations on coverage that are provided under each type of real estate policy. You must take the time to analyze your needs, no matter the hurry of finding a home you might find yourself in. Trying to save money is never a wise thing to do in what an real estate insurance policy is concerned. A coverage purchased at a higher price may better suit your requirements.

If you are buying a house that has changed owners within the last several years, you must absolutely ask the insuring company about a reissue rate. This will surely reduce your costs. In case you are wondering what such a rate is, you must know that the reissue rates are for a transfer of property after a short time from the purchase of a property. That first transaction was already covered by home property title insurance. The risks are therefore smaller, as everything must have gone well until then. You will have less to worry about, because the risk of a claim against the title is very low. This is the main reason why the insurance companies can offer this type of rate, which is in fact a discounted price on the home insurance policy.

Nevertheless, the procedure is not the same everywhere. Sometimes the company or agent directly provides the title insurance to the homeowner. Other times the attorneys are the ones to offer a property title insurance to the owner of the home. In these cases, their services in examining and providing a title opinion usually include the insurance too.

Article Source: http://EzineArticles.com/457017

Tante Tania Malang

Tips for Getting Georgia Home Owners Insurance

When it comes to getting home owners insurance in Georgia the options are pretty limitless. There are numerous insurance providers in the state in both local offices and available on the internet. The types of coverage's available are many at different premium points depending on a number of factors, including home and property value, location of your home and the condition the home is in.

One thing you will find is that home owner insurance rates vary from state to state. Some of this is because the various state governments have different requirements for home insurance. Geography can also play a role in this discrepancy simply because certain parts of the country are more susceptible to certain types of natural disasters then others.

Ultimately finding Georgia home owners insurance is a matter of finding the best coverage at the right price. By shopping around you can get a multitude of quotes, one of which should fall right into your monthly payment comfort zone. You don't want to pay too much but you also do not want to have such a cheap policy that you do not have adequate coverage.

There are four things to keep in mind when shopping for Georgia home owners insurance.

1. Monthly Payment - A monthly insurance payment is an expense that every home owner must fit into their budget. It can take a good chunk out of a paycheck so it only makes sense to find the best deal possible. Always review the policy quotes fully before deciding which coverage to go with. It is important to make sure that your home is fully covered because it is most people's most expensive asset. Be sure to check for discounts as well when applying for your Georgia home owners insurance. Combining home and auto insurance with the same company is a good way to save up to 10% off your monthly premium.

2. Established Insurance Company - The longevity and history of the insurance company is an important consideration. You don't want to get taken by a fly-by-night company that is here one day and gone the next. Remember if the deal is to good to be true it probably is.

3. Customer Happiness - Just because you get a good deal doesn't mean much if the customer service side is not up to par. A good way to check an insurance companies customer satisfaction is to check with the Georgia better business bureau. Getting a claim paid quickly with little to no hassle is the hallmark of good customer service and is something to check before getting any home owners policy.

4. Smooth Quote Process - The quote process can tell you quote a bit about an insurance company. Were all your questions answered in a helpful manner? If the sales people and agents seemed genuinely helpful chances are if and when you have to make a claim it will go smoothly.

If you keep these things in mind when buying Georgia home owners insurance you should be able to get a good policy at a price that won't break your budget.

Article Source: http://EzineArticles.com/466146

Tante Marissa Makassar

Houston Homeowners Insurance Information

Houston homeowners insurance has had some changes over the last few years. Previously most homeowners selected a HOA package for the least expensive coverage or a HOB package for more complete coverage. After the Texas lawsuits involving mold many insurance companies no longer offer HOB packages because they include mold coverage.

As a replacement for HOB there are amended HOA policies that add coverage’s to make a better package. Because these packages are not standardized, like HOA and HOB packages, it is a little harder to comparison shop them. I suggest getting a couple quotes from reputable companies and then comparing cost and coverage.

Make sure the policy you select has high enough limits to cover the dwelling, other structures, and personal property. In many cases it would cost much more than the market value to rebuild your home after a disaster. That means that it could be advisable to have a higher dwelling limit than the appraised value. A basic policy may not have coverage from sudden release of water, fall of trees and limbs, collapse of building, or breakage of glass. A good amended HOA policy should include these coverage’s.

For your personal property make sure the limit is high enough. I also recommend getting “replacement cost valuation”. This is much better than an “actual cash value” policy that would settle for the depreciated value of your goods rather that the amount needed to buy new items.

Personal liability coverage is usually from $100,000 to $500,000. It is usually inexpensive to increase to $500,000 and that is what I suggest.

To save money on your policy it is usually best to get your home and auto coverage from the same company because there is typically a good discount for this. Your agent should discuss all the other possible discounts available. These may include non-smoker, alarm, newer home, over 55, and more.

Article Source: http://EzineArticles.com/475215

Tante Yuniar Medan

Renters Need Renters Insurance!

If you are renting a residence there are many reasons to get a renters insurance policy. As an insurance agent I find that this is coverage that many customers overlook. Recently a large apartment complex near my office had a major fire. An employee of the apartment complex said that many residents had lost all their possessions. She also told me that only two people suffering a loss had renters insurance. In the Houston area $10,000 of renters insurance typically costs $12 to $16 per month. We give our auto insurance customers a auto/renters discount that is usually $10 to $20 per month. The cost is so low there is no good reason not to have a renter’s policy in my opinion.

There are many brands of policies available. Things that are usually covered include loss from fire, vandalism, windstorm, explosion, theft, and various other stated causes. Flood is not covered and a separate flood policy is necessary for that. Liability coverage may also be included in a renter’s policy. This covers bodily injury to others if you are liable. Examples could be if someone slipped on your wet floor and was hurt, or if your pet bit someone. Typical liability coverage could be from $25,000 to $300,000. Other coverage’s may include loss of use, and personal property away from home.

Here are some suggestions to get the best coverage and price for a policy. You will often save by getting a renters policy from the same company as your auto insurance company. Shop reputable companies that you trust. Be sure to get a high enough limit to protect the value of your property. Consider a “replacement cost” policy if possible. This pays what new goods would cost if you have a covered loss. Make sure your agent explains what is covered and the terms of your policy. Also talk to your agent about what documents would help in the event of a loss. For example taking pictures or a video of your property, saving receipts for expensive items, and possibly making an inventory of your property. If you live in Texas I would be happy to give you additional information and or a quote.

Article Source: http://EzineArticles.com/397193

Tante Mita Batam

What is a Flood Insurance Program?

Flooding can occur at just about any point in time. In addition to time, a flood can occur at just about any place in the United States. There are a large number of individuals who are educated on flooding and the damage that it can cause, but an even larger number are not. This has lead to some confusion when it comes to flooding and the damage that it may cause.

The individuals that are more educated on flooding and flood damage are likely to live in an area that is prone to flooding. These locations are often near rivers, streams, or the coast. With a large amount of rainfall, these areas could flood in a few days or even hours. What many individuals do not realize is that flooding can also occur away from large bodies of water.

Many individuals experience backyard flooding or flash floods. Homes in the path of these floods could suffer a large amount of damage. When it comes to flood damage, the repairs must be done correctly. If not repaired correctly, a flood damaged home could be forever ruined. Repairing a flood damaged home the right way does not always come cheap and flood insurance companies know this.

There was a point in time when a number of flood insurance providers where picky when it came to offering coverage plans. Individuals living along the coast or others bodies of water often found it difficult to obtain flood insurance. If they could obtain it, it was often difficult to afford. When this became a problem, a number of flood insurance programs were developed.

One of the most popular flood insurance programs is that of the National Flood Insurance Program. The National Flood Insurance Program is a flood insurance program that was designed to assist homeowner in obtaining flood insurance. The National Flood Insurance Program regulates the coverage plans being offered and the prices they are being sold at. This allows many homeowners to have flood insurance coverage on their homes.

The National Flood Insurance Program is the most well-know program, but there are some local governments that offer their own flood insurance programs. Many of these programs have adapted the policies of the National Flood Insurance Program. The goal of all flood insurance programs is to ensure that a homeowner is purchasing quality flood insurance coverage from a reputable agent.

There are a large number of agents that sell flood insurance coverage, but one of the most reputable and well-known is AmeriFlood. AmeriFlood offers flood insurance coverage that is backed by the National Flood Insurance Program and the Federal Emergency Management Agency (FEMA). In addition to offering quality insurance, the insurance is offered at a discounted price. Most customers receive a discount up to 12%.

Flood insurance coverage is important, no matter where you live. It could not only save your home, but your finances as well. Do not be left alone when you need help the most. Obtain flood insurance coverage that has earned the approval of the government.

Article Source: http://EzineArticles.com/416772

Tante Shinta Palembang

Mortgage and Landlord Insurance

If you own a home, apartment, or rental real estate properties it is extremely important to have mortgage or landlord insurance. Owners of property are liable for anyone who gets hurt on that property. If someone falls down the stairs, breaks an arm, or strains their back, the landlord can be held responsible.

Lawsuits continue to rise in the United States. For investor that own property, there is a 1 in 3 chance that this year they will have a lawsuit file against them. For this reason most financial advisors suggest that property owners have and keep landlord insurance. This will not only cover injuries but also any damage done to the property especially in terms of natural disasters.

It is often tough to find insurance companies which offer an affordable policy to investors who rent property. These companies realize that renting can be a huge liability and more trouble then it is actually worth in profits.

Landlord insurance will cover any bills that you, as a landlord are found liable for. For example, if you are sued by the parents a child who fell down your building's front steps you will probably be found liable for the not just the injuries and medical care but also emotional distress.

Once you are sued and the other tenants find out about it, there will more accidents and more court cases. Insurances helps deter the costs of unjustified lawsuits including any awarded damages and also legal fees.

Court cases can be fairly damaging and your finances can suffer. In theory a court can award so much money to a victim that you will be required to liquidate your assets. If you want to protect your family and yourself from lawsuits you may want to consider getting insurance on your rental properties.

Even if you do not own property and just have a home of your own. You can also be found liable for accidents which happen on your property. Do you have slippery front steps in the winter time? Or an uneven sidewalk?

Each of these imperfections can cause great harm to a visiting individual and cause you to be found liable for injuries, damaging, emotional distress, and time off work in a court of law. Protect your assets today. If you do not have landlord or mortgage insurance speak to a local insurance agent today and secure your hard earn money.

Article Source: http://EzineArticles.com/330833

Tante Angela Bandung

Homeowners Insurance: Deductibles and Home Maintenance

What deductible should you carry on your Homeowners Insurance? What does home maintenance have to do with the deductible on your Homeowners Insurance? Home maintenance, the deductible on your Homeowners Insurance and the price you pay for that Homeowners Insurance all go hand in hand.

Years ago, people would only use their Homeowners Insurance in the event of a catastrophic loss: their house burned down, or burglars stole all their belongings. It was a common rule of thumb that homeowners would use their insurance on the average, two point something times during their lifetime. If someone backed into the side of the garage on the way to work, they would take care of it and not submit a claim. Because of that, insurance companies did not penalize homeowners for using their insurance.

Nowadays that mindset is changing. Many people feel that since they are paying for the insurance, if the occasion arises, they are going to submit a claim. If they are only going to get five dollars after the deductible, they are still going to make the claim. The insurance companies are tracking these losses. Now they are starting to increase the cost of insurance for those people that are making numerous claims, and they are even nonrenewing policies for homeowners who have multiple claims. The insurance companies feel that homeowners should not be using their insurance for home maintenance.

Insurance companies are also phasing out lower deductibles. Some companies no longer have a $100 deductible or $250 deductible. The $500 deductible could be next. Insurance companies are now adding a 1% or 2% deductible - 1% or 2% of the dwelling amount - the amount you are insuring your house for. If you insure your home for $500,000, a one percent deductible would be five thousand dollars. A two percent deductible on that same house would be ten thousand dollars! You can see that the insurance companies are trying to do away with small claims.

That is not necessarily a bad thing. Some insurance companies will charge for a deductible lower than the standard deductible. On the other hand, they will discount for a deductible higher than the standard deductible. In this age of rising costs, taking a higher deductible might make good sense. I strongly urge you to discuss the deductible options your insurance company has available with your insurance agent.

So what does this have to do with Home Maintenance? If you come home from work some night and discover your house filled with smoke, you may have suffered a "puff back". Your clogged furnace exhaust just filled your house with oily smoke instead of going up the chimney. Now you have to have your walls and furniture cleaned. Maybe your clothes have been smoke damaged. You probably could have prevented this disaster by having your furnace cleaned and serviced.

Maintaining your home could prevent a number of costly claims. Have your furnace cleaned and serviced. Replace worn shingles on your roof. Replace the hoses on your washing machine. You may prevent claims, avoid large out of pocket expenses, and afford a higher deductible which could in turn lower the cost of your homeowners insurance.

Article Source: http://EzineArticles.com/192769

Tante Yulia Jakarta

Home Insurance Guide - Secure Your Home With Home Insurance

Home insurance refers to an insurance policy that is a combination of personal insurance protections. Home insurance policy protect against certain accidents that can happen at the home. It is also known as homeowners insurance. Home is a largest investment for all thats why home insurance policy is essential to protect your home. Home insurance policies generally provide coverage against theft, fire, lightening, smoke, frozen pipes, ice and snow.

Cost of home insurance depends on the cost that is required to replace the house. It is a contract including all items that should be covered or not. Home insurance policy normally doesn't include claims against earthquakes, floods, war or 'Acts of God'. Sometimes homeowners can purchase special insurance that provide protection against flood and earthquake.

Home insurance policy is a contract that works for a limited period of time. Insured party has to pay an amount of premium to the insurer for each term. Sometimes insurer charges a lower premium. Another type of home insurance is perpetual insurance that is not fixed for a fixed term and can be acquired in some areas.

Buyers should read all contents of the policy at the time of purchase. They should maintain a list of personal property and review their insurance policy annually. They should read all terms & conditions before signing any type of contract.

Article Source: http://EzineArticles.com/145465

Tuesday, September 20, 2011

Tante Siska Semarang

The Importance of Mortgage Loan Insurance

Mortgage Loan Insurance is intended to protect the lender from default on the part of the borrower, plain and simple. However, the Canada Mortgage and Housing Corporation (CMHC) designed mortgage loan insurance for more than just protecting the banks. The CMHC wanted homeowners to have a greater ability to enter the housing market, at an earlier time and with better success. After all, more privately owned housing means more jobs, more consumer activity, more money being spent and so on. If there are more jobs and more spending, then the economy benefits. In short, the risk to lenders has been removed, leaving them in a better position to offer lower interest rates and smaller payments.

When the CMHC laid out their plan for mortgage loan insurance (MLI), it included the stipulation that if the buyer had less than 20% of the purchase price as a down payment, the insurance was required. Before the advent of MLI, The Canadian Bank Act prohibited federally regulated lending institutions from lending to those with less than that 20%. Now the banks can finance up to 95% of the purchase price, provided MLI is purchased. The change meant so many more people who had previously given up on owning a home, now had hope.

For those who already own a home, MLI provides options for those wanting to renovate, refinance or move to another home. CMHC MLI's are portable from an existing home to a newly purchased one, and sometimes without having to pay the initial premium on the new home. Additionally, the self-employed who are seeking to finance the purchase of a new home are now able to do so without providing traditional forms of proof of income. Even those who are new to Canada are eligible. Existing homeowners who wish to incorporate energy efficient elements into their home (NRCan energy assessment rating must rise by at least five points) are entitled to an extended amortization period - without a surcharge and with a ten percent insurance premium rebate. There are even further benefits for borrowers purchasing a second home or income property.

Now that we know the importance of MLI, how does it translate into numbers? Well, for starters it depends on a few calculations. Your lender will do them for you, but if you want an idea ahead of time then begin with calculating the Gross Debt Service (GDS). The GDS estimates the most expenses you can afford each month, more specifically the expenses related to running the home. To qualify for an MLI, the total GDS should not be more than 32% of your gross household income. Next is calculating your Total Debt Service (TDS), which estimates the most debt load your income will support. The TDS should not be more than 40% of your gross monthly household income. Then use an online mortgage calculator to enter the information along with your total monthly income along with other factors, and you will be provided with the maximum allowable mortgage you will qualify for.

The MLI premium rate will then be calculated as a percentage of the total loan with the size of the down payment taken into account. For example, if you require the lender to finance 80% of the cost of the home then your premium will be 1% of the total loan. If your purchase requires 95% financing on the part of the lender, the premium will be 2.75% of the total loan amount. Thus, the lower the amount financed, the lower the insurance premium.

In June of 2011 the CMHC reported their findings of recent survey which asked 3512 mortgage buyers about their goals in paying off their debt. A whopping 39% said they had purposefully set their payments higher than the suggested amount so they could pay off the debt faster. A further 20% reported making a lump sum payment since the date their mortgage took effect. The summary statement offered by the CMHC was that Canadian homebuyers have "a high level of financial literacy". The statistics offered by the corporation is certainly a good sign, and any proud Canadian homeowner should give them self a pat on the back.

Furthermore, the harder homeowners work to pay their mortgage down, the more equity they build in their home. Clearly the opportunity to purchase sooner than what was previously possible (through the installation of the MLI), homeowners have taken the chance to go further than even the lender anticipated. As of 2009, the CMHC reported that Canadian homeowners' equity position sits at an average of 74% while their American counterparts were at 43%. The importance of the MLI is certainly clear now, isn't it?

Article Source: http://EzineArticles.com/6512275

Tante Melissa Yogyakarta

Tips for Buying Homeowners Insurance

There are many companies selling homeowners insurance, almost too many to count... But what do you need? Are all the policies the same? What's covered and what isn't? When do they pay? How much do they pay? Is it a hassle getting the money? Is there really a difference between companies? Between agents? Unfortunately, the answers to these questions are all too often only found out the hard way at the time of loss.

The best way to buy homeowners insurance is to find a local agent who represents a number of different companies so you have a choice and then go and sit down and talk to them. Explain that you don't know very much about homeowners insurance, but that you know you need it and could they help you. Because it is to your advantage be sure and offer to bring your car insurance to the agency if they can help you with the homeowners insurance. This is a significant investment of your time, but your home is likely the most significant investment you'll ever make. The guy who is offering to save you 80% of the cost of your homeowners insurance for a 2 minute phone call is probably not that easy to get a hold of when you have a claim. I'm not saying there isn't a real premium difference between companies, there is, just be careful and find a good agent you can trust. Those savings can be very illusive and disappointing when you have a claim. Most agents who have been around for a while see more claims in a year than you will have in a lifetime.

What sorts of things are covered on a homeowners policy? A typical homeowners policy covers direct damage to things you own, damage like fire, theft, frozen water pipes, or trees falling on your home. Almost none of them cover flood and all of them have significant limitations that you may need to have fixed.. This is a very good time to talk to your agent about the limitations, i.e. the fine print, on the homeowners policy. Most policies have maximum amounts that they will pay for certain items or may even exclude certain items or events entirely. A few thousand dollars of coverage for silver, coins, computers or jewelry is a common limitation, but damage from mold often has a dollar limit. Most limitations can be amended in various ways with the proper documentation of value. Be sure and make pictures of your property, it makes it much easier for a claims adjuster to establish value when you have a claim. Store your pictures somewhere away from your home. My favorite place is as an attachment sent to my personal email account.

Many people have collections of interesting or unusual items from jewelry and silver to teacups and beer cans or the latest electronics. Just because you don't have an expensive painting doesn't mean you don't need that scheduled or specific coverage. It is better to get the right coverage and good advice that you wish you had at the time of loss.

In addition to the coverage for your property ask about the liability coverages. That trampoline or family pet may get to be rather expensive when it comes to getting liability coverage for them. Most companies offer an umbrella policy which broadens and increases the coverage available through a homeowners policy.

The best final advice I can give you is shop for an agent you like and can trust. The difference in price is going to be minimal and the difference in claim service with the right coverages can be priceless.

Article Source: http://EzineArticles.com/6527258

Tante Dewi Surabaya

What Does Liability Insurance in Home Insurance Coverage Protect?

Accidents happen at people's homes and this is why these homeowners need to have liability insurance under their homeowner's insurance policies. In the event that someone is injured, experiences an accident resulting in death or has some other type of loss, the homeowner will be held liable for compensating these people.

For example, someone may drown in a homeowner's pool. The survivors may sue the homeowner and the jury will award these survivors a large sum of money that the homeowners will have to be responsible for paying. They will also have to pay their lawyers' legal fees. All of this can amount to a large sum of money, and the homeowners may even have to sell their houses to raise it.

Liability insurance protects the homeowners' assets from being seized and sold in the event that someone is hurt on their property. The Personal Liability Coverage will be accessed for a variety of different situations that may occur on a homeowner's property. If a family member injures someone on the property or the dog bites a guest, this insurance coverage will pay the injured party.

Guests to the house can also have accidents, fall and break a bone. Personal liability coverage will pay these people's medical bills. If they have to miss work to recover from their injuries they will receive their lost wages from this coverage. In the event that someone dies on the property, the liability coverage offers death benefits to the survivors and may even offer enough money to give the injured a sum of money for pain and suffering. If these issues end up in court, the homeowner's legal defense will be paid through this coverage.

When purchasing liability insurance, homeowners are free to set the limits for the policy. This means that they will decide the maximum amount of money that can be paid in the event that they need to use the insurance. If this amount is set at a low level the premiums will be cheaper, but it's possible that the amount of money these homeowners will be ordered to pay someone hurt on their property may be more than their insurance will pay. The homeowner will then be responsible for the rest of the amount.

People who have reason to believe that they are vulnerable to being sued such as if they own a pit bull, would be well advised to purchase the most insurance for dog bites that they can possibly afford. This will ensure that they have sufficient insurance to pay the entire judgment that may be levied against them.

Liability insurance is a necessary expense for those who own their homes. The potential for people to get hurt for all kinds of reasons is too great to live without it.

Article Source: http://EzineArticles.com/6506709

Tante Yunita Bandung

How Much Renters Insurance Do I Need?

If you get a renters insurance policy you will probably need to select a limit for personal property, and for liability coverage. If you are not sure what limits to select it is best to consult with an experienced insurance agent. With that said there are some general things to consider for a home or apartment renters policy.

For personal property coverage some policy's provide actual cash valuation (ACV) and others offer replacement cost. If you select an ACV policy you will be considering what the depreciated value of your property is. For a replacement cost policy (suggested), you would consider what the cost would be to buy all new contents at retail prices.

Some people elect to only get enough coverage for their high value property such as computers and big screen TV's. Burglary is the main concern for some and typically a burglar does not take your pots, pans, shoes, cleaning supplies, and other common household goods. This may be true but common goods are at risk for fire or windstorm damage. In my area of Houston Texas many renters lost all of their contents from hurricane IKE damage.

My suggestion would be to select a replacement cost policy and then calculate what it would cost to replace all your contents. You could start with your clothes. You can go to the mall and get a small bag of clothes for $100. How much larger is your complete collection of clothes compared to that small bag? Then add the value of your furniture, electronics, appliances, cooking items, pictures, and other items. Be sure to ask your agent about coverage for special items you own like firearms, jewelry, coin or stamp collections, antiques, or musical instruments.

After you have an estimate of what you want to insure I suggest adding more for a cushion. For example if you estimate your personal property to have a value of $25,000, you could select a limit of $30,000. That could cover small items you forgot to include. Remember that most people tend to accumulate more property every year. Then you could forget to call your agent to request a higher limit. So start a little high on the limit.

The liability limit is easier to select. Many apartments will require that you have a minimum of $50,000 or $100,000 in liability coverage. It is very inexpensive to increase this limit. For example it might only cost $10 per year to increase from the minimum to $250,000.

Of course the cost of a policy is an important consideration. However renters insurance is usually inexpensive. As an example, in the Houston TX area, a basic renters policy might cost around $12 per month. An upgraded policy with 25K in personal property, 250K liability, and the replacement cost option could be about $30 per month. Inland areas with low windstorm risk could be even lower. If you ever have a claim you will probably be glad you got the right coverage, and not just the least expensive option!

Article Source: http://EzineArticles.com/6560738

Tante Eva Jakarta

Why Do You Need Mortgage Insurance?

If there's something in life that's the most uncertain, it's life itself. And when you have liabilities, it's your dependents that bear the brunt of this. Thanks to mortgage insurance, your home isn't one among the liabilities that your family will have to worry about in your absence.

For the uninitiated, mortgage insurance is a payment plan that takes care of the residual payment if you were to die or meet other unforeseen circumstances before the loan is repaid. You can either choose from a mortgage life insurance or mortgage protection insurance.

While mortgage life insurance covers you in event of a death, the protection insurance protects you if you were to lose your job or meet with an illness or injury.

Commonly called Home Protection Scheme, here in Singapore, mortgage insurance isn't compulsory unless you are a HDB/HUD flat owner who services their loan with the CPF funds.

There's a lot of misconception about mortgage insurance, with a lot of people shying away from buying mortgage insurance. This is largely because of the misinformation surrounding the concept.

Newspapers are full of stories where houses have been foreclosed because the breadwinner in the family either lost his job or his life. Rather than leaving liabilities that your family struggles to meet, it's better to safeguard their interest by investing in mortgage insurance.

There are various options available for the applicant. You can choose to go for a single or joint coverage, choose to end it before the mortgage or have it run concurrent with the mortgage, and even opt to add a premium waiver where future premiums shall be waived on diagnosis of a critical illness(the list of which is given by the insurance company).

You can also choose from plans that cover you for total and permanent disability up to the age of 70 and give you an assured sum (either in lump sum or in installments) upon diagnosis of disability that is permanent and total.

While everyone agrees on the benefits of the plan, there are a few things that the insurer needs to be aware of. This includes hidden charges, high premiums and difficulty in claiming the insurance. There is no dearth of insurers who understand only at the end of the cycle that they've been taken for a ride.

Make sure that you choose a trustworthy insurance company that provides information about the policy in a clear and unambiguous manner. When it comes to choosing mortgage insurance, not all companies are alike. It certainly pays to shop around. There are plenty of websites that allow applicants to shop and compare prices offered by different companies.

Article Source: http://EzineArticles.com/6470192