Avoid Being Under Insured, Warns InsuranceAgents.com

New article gives tips to help homeowners avoid being under insured. End Quote

There are several pointers homeowners should use to avoid being underinsured and still find affordable home insurance.

Chicago, IL (1888PressRelease) September 08, 2009 - A recently released article by InsuranceAgents.com is warning homeowners not to settle for a less-than-stellar homeowners insurance policy. Many homeowners who are trying to save money may find themselves only saving it in the short term, while a policy that keeps them underinsured makes them lose more money down the road.

“Homeowners far and wide are always in search of the most affordable homeowners insurance policy around. That is all good and well, but many of these homeowners make the mistake of sacrificing coverage for cost which can not only be financially disastrous but emotionally damaging as well,” the article, ‘Home Owners Insurance: Don’t Be Underinsured,’ states.

There are several pointers homeowners should use to avoid being underinsured and still find affordable home insurance. For a more complete list of tips, visit the original article at InsuranceAgents.com. The following should be employed by all homeowners:

• Consider disaster coverage – If your area is susceptible to floods, earthquakes and other natural disasters or damaging weather conditions, you should add disaster coverage to your policy.
• Replacement cost or actual cash value? – “It is wise to spend the extra few bucks for replacement cost over actual cash value. Actual cash value covers you for the depreciated value of your items whereas the replacement cost pays you what it costs to replace those items,” the article states.
• Properly insure your valuables – Most standard policies lump all your personal belongings into one section of coverage. You may want to add a rider that more thoroughly insures your most valuable possessions to avoid loss.
A homeowners insurance agent can better help you find the most appropriate coverage for you. However, take it upon yourself to ensure that your policy doesn’t have any apparent coverage gaps or insufficient coverage. The worst thing a homeowner can be is underinsured. It’ll only cost you money and stress down the road.

staff contribution: Meha Ahmad

Visit InsuranceAgents.com for more information.

http://www.insuranceagents.com/underinsured-homeowners.html

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