Home Insurance

Now you have a home…the stress begins. This is your little piece of paradise, but how are you going to protect it? Some would say, “Buy a gun!” That’s a thought…but I was thinking more along the lines of insurance. Many may remember Chris Rock’s rant about insurance, he said: “They should call it ‘in-case-s***.’ Because you need some ‘in case s*** happens.” He may have been talking about health insurance, but it still applies the same.

When considering the purchase of homeowner’s insurance, be sure to shop around. Ask for details of things covered and not covered. Ask about flood insurance; even if you don’t think you need it. Ask about discounts offered. Rememeber, the worst they can say is “No,” and if they do, say, “Thank you,” hang up and move on to the next agency.

 “I don’t need flood insurance, I’m not in a flood plain.” Are you 100% positive? Close friends of mine thought they’d be safe, because they paid for years on flood insurance, they weathered storm after storm and after 15 years, never made a claim. Wouldn’t you know, the very same year they drop their flood insurance, Hurricane Katrina made landfall and my friends found 5 feet of water in their home. If you are curious, contact your local civil defence office or your state Emergency Management Agency and ask for a current 100-Year Flood Plain. I would suggest it be dated 2005 or newer, Katrina really opened some civil defenece officer’s eyes and shook the Gulf Coast out of their “flood” slumber.

Often time insurance companies will offer discounts if you have an alarm system. Others include:

• Converting gas appliances to electric. (This might also net you a discount on your electric services, sometimes in a form of a credit every month.
• Termite Control systems and/or regular checkups.

Take the next step and get free quotes on home insurance from reputable companies.

A note to renters: Get renter’s insurance, often is costs less than $50 per month and it will cover most, if not all, material possessions in the case of fire, flood, natural disasters and often, burglary. As far as I know, there are no current laws that mandate the landlord pay damages to renters. And almost all lease agreements include a clause prompting you to purchase renter’s insurance.

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