When you shop for homeowners insurance, you want to be sure that you are getting the best coverage at the most affordable rate.  When shopping, sometimes people make mistakes that can cost them.  Saving money by reducing your coverage could end up costing you more in the long run, if something disastrous were to happen to your property.  Here are a few tips that you can use when shopping for insurance so you can avoid some of the most common pitfalls.

Purchase enough coverage to replace your home and belongings – If you have too little coverage, you will not be able to rebuild your home or re-purchase the necessities in life.  If you do not know what the best coverage is to purchase, discussing it with your insurance agent can help. 

• Read the fine print and purchase additional coverage – Flood and earthquake insurance is not usually included in a basic homeowners insurance policy.  If you live in an area prone to these types of disasters, extra coverage is required.  Liability coverage offered on your homeowner insurance policy protects you and your resident relative on and away from your property.  Make sure you have sufficient coverage to protect you and your assets from an potential liability claims.

• Consolidate your policies with one company – If you have different providers for homeowners, car or life insurance, you could be paying too much.  When you consolidate your polices, many insurance companies will give you a discount on a total package.

• Consider the deductible vs. the premium – When you carry a high deductible, your premium price will be lower.  However, keep in mind, if you happen to have many claims in one year, having a higher deductible can be more expensive.  Weigh the options before deciding on a very high deductible.

While it is not an insurance specific tip, it is also important that homeowners take the necessary steps to protect their home.  Installing security systems, performing regular maintenance and having protective items such as smoke alarms, can help you to prevent disasters, so you can minimize the costs that you have to incur.  In some cases, installing burglar alarms, smoke detectors and other devices can help you to qualify for discounts as well.  Please contact AIS Insurance for more information and other insurance products.

This content is offered for educational purposes only and does not represent contractual agreements. The definitions, terms and coverages in a given policy may be different than those suggested here and such policy will be governed by the language contained therein. No warranty or appropriateness for a specific purpose is expressed or implied.

When you own a home and purchase homeowners insurance, your policy will cover damage to the home and it will also protect your family if anyone is injured on your property or if you or your family happen to accidentally injure or damage other people or their property. But what if you decide to rent out your home, or perhaps you have purchased a rental property as an investment?  Will your homeowner’s policy cover these two situations?  Chances are your policy will not cover all of these situations.

Homeowners insurance typically covers owner-occupied structures, other structures, all your personal property, your personal liability and medical, higher limits. When you rent out a home, the risk exposure to your home changes. Most owners who rent out their home will have minimal personal property left in the home, usually general appliances such as kitchen appliances, maybe a washer and dryer.  Minimal furnishings mean minimal coverage needed.  Therefore, coverage on your homeowner policy will offer more then what you may want to carry when you rent your home.  

When you rent out your property, you will need to purchase a dwelling fire insurance policy.  A dwelling fire insurance policy typically covers your rental unit (the dwelling), other structures on the property such as sheds, the owner’s possessions (but not the tenant’s possessions), lost rental income if the house is damaged and uninhabitable, and some liability protection for the owner in case of injury or a lawsuit. This is a more broad policy to suit your needs as your main interest as a landlord would be to ensure that you are covering your actual home and liability as the owner of the property.

When purchasing a dwelling fire insurance policy, it is important to read all the fine print, as coverage will vary.  To get more information about a dwelling fire insurance policy and other renters insurance coverage, please call 888-772-4247. To get a quote on renters insurance, visit http://www.aisinsurance.com/california-renters-insurance.

This content is offered for educational purposes only and does not represent contractual agreements. The definitions, terms and coverages in a given policy may be different than those suggested here and such policy will be governed by the language contained therein. No warranty or appropriateness for a specific purpose is expressed or implied.

First, let’s explain what dwelling coverage is.    The dwelling coverage refers to the main house and any other structures that are attached to it such as a garage or porch.  Dwelling coverage is important because you must buy enough to replace your home in the event it is destroyed.  Be aware that market value and rebuild cost are very different.  In most cases the rebuild cost will be much lower than what the actual amount you originally paid for your home. The original purchase price of your home included additional costs such as the value of the land.   The land is not taken into consideration in determining the actual dwelling value of your home  You also need to  make sure that if you have a pool or shed on your property, there is additional coverage for these “other structures on your property.  These are not generally covered under a primary dwelling policy.

Now, if you notice that your policy is increasing in price year over year, it is most likely because you have what is called inflation guard coverage.  Estimating the value of your home is not an exact science. Inflation Guard coverage ensures that you have fluctuation and minimize the possibility of being under insured at a time of a loss.. It bumps up the coverage amount specified in your policy declarations to cover your home.by a certain percentage.  This is done on an annual basis when your homeowner policy comes up for renewal. 

For more information or a quote on homeowners insurance, please contact a representative at AIS Insurance.

This content is offered for educational purposes only and does not represent contractual agreements. The definitions, terms and coverages in a given policy may be different than those suggested here and such policy will be governed by the language contained therein. No warranty or appropriateness for a specific purpose is expressed or implied.

Natural disasters are unpredictable and when one occurs is the wrong time to be assuming that your current homeowners insurance policy will cover the damage.  Most homeowners insurance policies do not cover the damage caused by floods, earthquakes, and other types of natural disasters.  Earthquakes and floods are the most common natural disasters that Californians face.

Earthquakes are unpredictable.  There is no “season” for them, so you need to be protected at all times.  If an earthquake hits and your house  is damaged in any way, chances are your homeowners policy will not cover the damage, nor will it cover your destroyed belongings.  With earthquake insurance coverage you can feel secure in knowing that you will be protected if one occurs.

Floods tend to be a little bit more seasonal, as they often occur during the rainy season.  Although there are flood warnings, flash floods can happen very rapidly giving you little or not enough time to properly react to prevent water damage to your home and personal property.  Flood damage is not usually covered by a standard homeowners insurance policy, so additional coverage will need to be purchased to protect against this natural disaster. 

For more information on natural disaster insurance and other coverages, please visit www.aisinsurance.com.

This content is offered for educational purposes only and does not represent contractual agreements. The definitions, terms and coverages in a given policy may be different than those suggested here and such policy will be governed by the language contained therein. No warranty or appropriateness for a specific purpose is expressed or implied.

When you purchase homeowner’s insurance, you will need to have an idea of how much you need to insure your home for.  There are a couple of steps to this process before you can decide on the amount of insurance to purchase.  The first thing that you will need to determine will be the replacement value of your home.  You need to acquire this amount of coverage because if your home is ever be completely destroyed, your insurance ought to cover how much it would cost to build your home new.  Some may ask whether or not market value comes into play, and the answer is no.  Market value is determined by many different factors, such as the current state of the economy, the neighborhood you live in, desirability, etc.  These items are not factored into this value because they can make the price of your home fluctuate quite often, where the replacement value of your home is more consistent. 

The replacement cost value is typically determined by the insurance carrier, using formulas derived from local building costs, the value of neighboring homes, etc.

You need to determine the value of your home’s contents.  If your home is destroyed, your valuables will need to be replaced along with the structure.  Your insurance company can also help you to figure out this number.  Be sure to declare any high value items such as expensive jewelry or collectable items.  These luxury things may require extra insurance.

You are now armed with the appropriate information to get an accurate quote for homeowner’s insurance.  For more information about California homeowner’s insurance please visit http://www.aisinsurance.com/california-homeowners-insurance.

This content is offered for educational purposes only and does not represent contractual agreements. The definitions, terms and coverages in a given policy may be different than those suggested here and such policy will be governed by the language contained therein. No warranty or appropriateness for a specific purpose is expressed or implied.

This is often something people don’t understand when it comes to homeowner’s insurance.  When a home is purchased, the mortgage company will require that the house carry insurance.  In some cases, they will require that the insurance cover more than the purchase price of the dwelling.  This is where replacement value and market value come into play.  Replacement value is the cost incurred to rebuild the structure if completely destroyed. Market value is the amount you paid, or the approximate value of the home in a certain area. 

For example, a home purchased in a rural area, may have a market value of $120,000. The exact house, located in a different area, may have a market value of $285,000 due to the value of the underlying land; however, the cost to rebuild the house after a loss would be the same in either location. An insurance company is looking to insure the home for the full replacement value, not the current market value. You must remember that if your home is destroyed, the insurance company will pay to rebuild your home in its current location, not buy one down the street for you to live in.

For more information about homeowners insurance, please visit http://www.aisinsurance.com/california-homeowners-insurance. AIS shops many different policies to give you the best coverage at an affordable rate.

This content is offered for educational purposes only and does not represent contractual agreements. The definitions, terms and coverages in a given policy may be different than those suggested here and such policy will be governed by the language contained therein. No warranty or appropriateness for a specific purpose is expressed or implied.

Homeowners insurance exists to protect your home and your possessions from events such as fires, hurricanes, severe storms and tornados. Homeowners insurance also exists to protect you as the homeowner in the event of an accident occurring on your property through what is known as liability coverage. Liability coverage protects a homeowner when someone is injured while on their property.

Why is liability coverage such an important component of a homeowners insurance policy?  Well, quite plainly because accidents happen.  Often an accident is not one person’s fault; however, if an accident does occur on your property, you may have to assume responsibility for it.  Consider, for example, if your neighbor slipped and fell on an uneven step entering your home and was injured.  Or, if your son is playing baseball in the backyard and hits the ball into a neighbor’s window?  These types of events are most likely where your liability coverage will come into play.  Liability may coverage also protects you when damage or injury is caused by your pet, such as your pet biting someone delivering a package to your door. This coverage can also travel with you, so if your dog bites someone away from your home, that may be covered as well.

For many, the liability coverage included in their homeowner insurance policy is sufficient, but others may choose to purchase additional coverage.  Below are some reasons why you may want to look into expanding your existing coverage:

-  You own a swimming pool

-  Social gatherings are held frequently at your home

-  You have lots of pets.  (If you have a dog that is considered to be an aggressive breed, you will want to pay close attention to whether or not you will be covered if your dog bites or injures someone.)

As with all types of insurance policies, there are exceptions to liability coverages.  All the limits and exclusions are specified in your policy and it is recommended you to review your policy to make sure that you have the coverage you need.

This content is offered for educational purposes only and does not represent contractual agreements. The definitions, terms and coverages in a given policy may be different than those suggested here and such policy will be governed by the language contained therein. No warranty or appropriateness for a specific purpose is expressed or implied.

Selling your home can be an exciting time, especially if you are moving for a new opportunity, or upgrading to a larger home.  During a move, you will want to make sure that you are staying up to date with your insurance policy and the regulations that are in effect during this period.  If you are planning to live in your house until the closing date, your homeowner insurance policy should still be sufficient. 

However, if your home is for sale and you leave it vacant, this can pose some problems such as a higher probability of fire, theft, vandalism and other damages to your property.  Dwelling Fire policies may be your solution.  This type of insurance policy generally has liberal guidelines in regards to residency requirements.  In addition, they offer protection for your dwelling, other structures on your property and give you the flexibility to endorse additional coverage that you may need.   For more information about Dwelling Fire policies, please contact www.aisinsurance.com.