22 Dec
2020

What To Do After Purchasing a New Home: A New Home Purchase Guide

For those buying a new home, they may feel like they have recently finished a marathon. There is a lot to do if you are looking for a home. Between meeting with real estate agents, securing a home loan, and completing all of the paperwork, new homeowners are usually tired by the time they get the keys to their new home. At the same time, even if you have your keys in hand, there are still other steps you need to take to make sure that your home is ready for new occupants.

Hook Up the Utilities

There is a good chance that your home does not have any utilities hooked up when you move into it. Therefore, it is important to contact local utility companies and get everything turned on. Some of these utilities may require people to come to your home. A few utilities that you need to activate include:

Contact a local electrical company and make sure the electricity is turned on
Give a call to the local water company and make sure your home’s plumbing system is running
If your home has a gas line, you need to get the gas turned on as well
You should research local cable and internet providers to make sure that you have internet, cable, and a landline if you need one

We’re guessing that you probably do not want to live in a house without utilities. Therefore, you need to make sure that these bills are switched over to your name as soon as possible.

Change Your Locks

You do not know if the previous homeowner has made copies of the keys. Therefore, to make sure your home is safe, you may want to change your locks. You also need to make sure that you reset the security code to your garage if you have one. Finally, if your home does not already have an alarm or a security system, you may want to get one installed. This may help you qualify for discounts on home insurance premiums.

Secure Home Insurance

If you did not already get home insurance through your lender, then you need to make sure that you protect this valuable asset. Many people purchase home insurance based on the value of the home they now own; however, this is usually not enough coverage. Remember that home insurance is designed to not only protect the structure of your home but also its contents. Therefore, you may want to schedule a home insurance inspection to make sure that you get enough coverage to protect your house. Remember that your home is a valuable investment. You need to make sure that you protect it with the right home insurance policy.

Say Hi to the New Neighbors

Finally, take a few minutes to say hi to your new neighbors as well. Even though some of your neighbors might swing by and welcome you to the neighborhood, some people might be too busy to do so. Try to take a few minutes and introduce yourself to your neighbors. If you go on vacation one day and want someone to watch your house, you want to make sure you have a positive relationship with the homeowners around you. They might even give you a welcome gift after you buy a new home!

22 Dec
2020

5 Common Mistakes People Make on Homeowner’s Insurance Claims

by InsuranceHub | in Home Insurance

Having home insurance is a must, to protect your most valuable asset, your belongings and your financial future. While most people have home insurance coverage, many make costly errors when it comes to filing claims. Some of the most common home insurance claims mistakes are detailed below — along with some tips for avoiding these expensive errors.

Not understanding your policy

You should know what your policy covers, who your provider is and what your claims process is. Your policy is a long and wordy document, but it is a good idea to read it and understand what is covered.

Failing to get flood coverage: This is an incredibly costly error, and many homeowners don’t discover it until it is too late. Even though your home insurance policy covers “water” damage, it may not cover floods — you need a separate policy for that in most cases. If you live near water, in a storm-prone area or along the coast, you likely need a separate policy for flood damage just in case.

Not updating coverage

If you only looked at your homeowner’s coverage when you purchased your policy, it could be out of date. If you’re paying the bill, the coverage is still in place, but if your family has grown, you’ve made home improvements, purchased expensive items (that would be covered) or made other changes, then your coverage may not be as complete as it should. Unless you review your policy annually, you would only discover a problem after a damaging event, which is too late to add that new artwork, upgraded flooring, or expensive electronics.

Not keeping an inventory

You may be able to name the larger covered items in your home — the electronics, appliances, and other big-ticket things, but do you know their model numbers, value and other specifics? A full home inventory you update annually ensures that any upgrades are included and that you are reimbursed properly in the event of a loss. If the items in question have been destroyed, you may end up relying on your memory to list what you had. In a stressful time, this could result in a far lower claim amount than you are truly entitled to.

Failing to document damage

Extensive damage from a storm or fire could leave your home exposed to the elements – and you’ll naturally want to start cleaning and repairing the damage to your property. You should take photos and document damage before cleanup begins. Saying a tree limb fell on your roof is open to interpretation; images of that same tree in your living room after crashing through the roof clearly shows the issue and extent of the problem.

Familiarizing yourself with your policy, updating it as needed and keeping good records will all help you protect your home, your family and your belongings if you need to make a claim. Choosing the right policy for your needs and covering these details will ensure you are covered when you need it most.

10 Dec
2020

Did your credit score increase? It’s time to shop insurance rates

by InsuranceHub | in Auto Insurance, Home Insurance, Tips

You did it — you finally paid off a credit card or made some serious strides with your finances. After this work has been accomplished, you may be awarded with a credit score increase. While this means it’s time to celebrate, you should also consider shopping around for better insurance rates.

Many factors impact our insurance premiums. Whether it’s a boat, auto, renter’s, or home insurance, many aspects play a role in determining our premiums. However, your credit score holds a lot of weight. If you experience a credit score increase, you could be entitled to a better deal.

Tips for Shopping Insurance Rates

After you see your score increase, it may be smart to shop around for cheaper rates. Here are some tips on how to do this effectively:

Consider Combining

Car insurance is one area where it is typically beneficial to have multiple drivers on one policy. And since you now have a credit score increase, the savings can be substantial. That said, ask your car insurance provider how much you can save if you add a new driver. Another option is to shop around with other insurance companies to find the best quote. Combining different policies under one provider is another tactic to consider. For example, you may have a home insurance policy and car insurance policy under one provider. This will often lead to savings. By combining policies with an improved credit score, discounts are sure to follow.

Know the Numbers

When shopping around for insurance rates, many shoppers don’t even have a target number. This can lead to paying far more than you should. When getting quotes from providers, you should know what’s average, what’s cheap, and what’s far too pricey. Do research ahead of time to understand what’s a good rate for someone with your credit score.

Consider High Deductibles

Whether you’re dealing with car insurance or home insurance, you may consider raising your deductible for a better premium. However, not many insurance providers will tell you about this trick. And if you had a credit score increase, you could save even more. No matter what insurance policy you have, it may be possible to raise the deductible. Contact your insurance agent for assistance.

Only Get What You Need

If you just had a credit score increase, that might mean you’re doing better financially. While you may feel inclined to increase your premiums with better coverages, doing so might not be the smartest move. You may have more money to spend, but you should always only pay for what you need. To help in this regard, review your policies line-by-line and remove anything that isn’t necessary. When you do this after a credit score increase, the savings could be extensive.

Ask for Deals and Discounts

Surprisingly, insurance companies sometimes have tons of deals they can give to their customers. However, not everyone takes advantage of them. While you can always ask your insurance agent if they have any specials, it’s more common when you have a credit score increase. You may get a lower premium, more extensive coverages, or discounts on other policies.

If you saw a boost in your credit score, following these tips can be the smartest move for your financial well-being.

08 Dec
2020

Why it’s important for your employees to take time off

by Katelyn Betts | in Business Insurance, Insurance

Let’s face it: your employees are human beings, not robots. They need time to rest and relax, which means that they need a break from time to time. Maybe you offer time off to your employees, but they don’t seem to want to take it. As a boss or a manager, maybe you’re completely fine with your employees taking some time off for a vacation (or stay-cation due to COVID), but does your team know that? Here are a few of the benefits of employees taking time off and a few ways you can encourage your employees to do so.

07 Dec
2020

Vacation Home Insurance 101: What It Is and Why You Need It

by InsuranceHub | in Home Insurance

Buying a vacation home is the dream of many, but there’s a lot to consider before signing a contract, and vacation property insurance is a primary one. Because you won’t be in the home full-time, having insurance to protect the property from damages such as wind, fire, and other perils is vital.

It’s unlikely that your primary home insurance policy will cover a second home, which is why you need to learn more about vacation property insurance, why it’s necessary, and the approximate costs. Our InsuranceHub experts will cover that for you right here.

What Is Vacation Home Insurance?

Insurance for vacation homes typically requires a separate policy from your primary residence. Vacation home insurance covers the second home that you don’t plan to live in full time. However it’s different from vacant home insurance, and you might need to acquire even more than a vacation policy should you carry a mortgage on the dwelling, decide to rent it out, or live in a flood zone or near water hazards.

Vacation Home Insurance: What Does It Cover?

Insurance for a vacation home varies from traditional home insurance policies that may cover practically every potential incident. Policies for vacation homes are designed to protect a property that will not be occupied on a full-time basis. Your insurance agent can build a policy to meet special needs, but standard home vacation properties typically cover damages from the following perils only.

Theft
Lightning
Smoke
Fire
Explosions

Some policies may include liability coverage that protects against personal injury claims related to the property. However, this coverage could possibly be covered under certain primary homeowners policies. Be sure to carefully read your vacation home policy’s declarations page carefully to see what is covered, deductibles, coverage limitations, and premiums.

Factoring in the Cost of Insurance for a Vacation Home

Because there will be no full-time occupants, insurance companies consider a second or vacation home to be a higher risk than primary dwellings. Many factors go into determining how much insurance for a vacation home will cost.

Location: Homes located in high-risk areas that are prone to earthquakes, flooding, tornadoes, hurricanes, and those near the beach equal higher premiums.

Property Type: A cabin in a secluded area will cost far less than a high rise condo in New York or an oceanside vacation property. Amenities that create greater risks like pools will increase costs.

Condition and Age: Naturally, a well-maintained or newer home will cost less to insure than one that has been neglected and is older.

Typically, you will need to factor in flood insurance for lakeside, beachside, riverside, or in high-risk areas. If you plan to rent your property to some extent, you might need rental coverage. These will cost extra on top of the basic policy.

Need Vacation Home Insurance? Call InsuranceHub Today

Here at InsuranceHub, our team of insurance experts can help you get the vacation home insurance that you need. We take time to explain all of your options and how you can save money on your policy premium. Fill out our online quote form or message us on LiveChat for a fast, free assessment.