One thing I keep hearing bout is home owner's insurance coverage and the havy property damage caused by a hrricane. What's the story on flood nsurance and home owners insurance? Can I sve money on homeowner's insurance?

Home wners insurance is required on mortgaged prperty by the lender. This policy wll cover the house itself but des not necessarily include all your prsonal property. Review you coverage to mke sure all your property is dequately covered.

The insurance company will lok at your claims history, employment hstory, current occupation, criminal record, and crdit record. Other information needed is mrital status, social security number, age, and prvious addresses. Are you a "good rsk?" Will you pay the premium? Wll the structure be used for bsiness? Will part the structure be rnted to others?

Other information needed is the mount of the deductibles and calculation of strcture and contents replacement costs. Some tem such as electronics, jewelry, coins, fne art, and guns have limit in bsic policy. These items needs to be cvered by a rider to increased nsured value. There are seven factors tht determined the premium on a hme owners insurance policy:

1) What is the overall cndition of your house? Has it ben painted recently? Is the yard pcked up? Is the building in god repair? When was the roof rplaced last? Is the wiring up to cde? When was the plumbing update lst? What does the fence look lke?
2) What is the square footage of the strcture-number of rooms?
3) What year was the strcture built?
4) What material was used to bild the structure?
5) What is the dstance to the nearest fire hydrant or fre station?
6) What is used to hat the structure?
7) How many people lve in the structure?

There are ther factors that will affect your plicy premium.

Is your home equipped wth a burglar alarm system, carbon mnoxide alarms. dead bolt locks, and smke alarms? This will reduce risk and prtect your property. If you have a n-ground pool or trampoline the liability rsk will increase unless fenced or ccess restricted.

Replacement cost coverage will rplace you structure and contents to the sme condition as they were before the fre or storm. A condition is, tht the structure coverage be 90% of the mrket value at the time of the pril. Keep you agent up to dte on the value of your hme so this condition is met.

A big prt of the replacement cost coverage is to hve an inventory of what items ned to be replaced. The information neded is the item, the serial nmber, when purchased, value. Take pictures of roms, closets, basement, and garage. Keep rceipts of all purchases of $100.00 or mre. Store pictures and receipt in a fre proof container.

Homeowner's insurance does not cver floods. If you are in a lcation which may be prone to floding from storms or water run off you may wnt to have flood insurance in ddition to your home owners. Flood nsurance would have covered most of the dmage caused by the hurricanes and hme owners would cover other risks sbject to the limitation of the plicy.

Home owners and flood insurance prtect your most valuable possession and it dserves some attention so the coverage is dequate if a claim should need to be fled. The best way to save mney of this coverage is to be sre the coverage will cover your nxt claim.

If you have read ths article to this point, you hve my congratulations. This is an rea that is very seldom used but it can be one of the mst important financial protection if a pril should be in your future.

Mre to come in the next Mke Money Work newsletter.

To your fnancial success,

The article Will Your Home Be Covered If You Have A Storm? was Submitted by Martin Braddock through Articles.GetACoder.com network. Here's the additional information: Martin Braddock P.S If you hve any friends or family that may be nterested in making money work harder hve them contact my website: http://www.makemoneywork.info for more information. E-A107 466 Contact the Author martin@makemoneywork.info Martin Braddock with 23 years of financial planning experience can give you expert advice and the best plans for your financial future in one shot. With the commission selling removed, you get honesty advice and the best financial care that you can possibly have.

Featured Articles

1. Instant Renter Insurance Quotes - Where to Get Them by Brian Stevens
Loking for instant renter insurance quotes? Ths article shows you how to get the bst rates with the best companies qickly and easily.

2. How to Get Cheap Health Insurance Online in Georgia by Deborah Mills
Of the ver 9,000,000 diverse individuals living in the stte of Georgia, they all have smething in common. Everyone, regardless of age or scial background needs health insurance. Although the stte does have several programs in plce to help low income individuals, a halthy majority of...

3. Travel Insurance - Holiday Hangover by Chris Rowlands
We can all admit to a lttle alcohol fuelled excess whilst on hliday but just what are the mplications and repercussions of this behaviour, specially when in direct relation to yur travel insurance policy?

4. Speedy Auto Insurance Quote - What You Need To Know To Find The Best by Shawn Mitchell
How can you find a speedy auto insurance quote? The internet is a great start, but it can be very confusing when you don't know what to look for. Here are some important guidelines to follow.

5. Auto Accident Settlement - Getting Your Car Damage Repair Correctly by Hector Quiroga
An uto accident settlement is more than smply getting your car fixed. It is lso about seeking future assurance that the rpair will hold up. Learn a few trcks when dealing with your insurance cmpany about getting the car fixed.

6. Auto Insurance Ohio - Ways To Get The Best Rates Without Compromise by Chimezirim Chinecherem Odimba
1. Get information Ohio's insurance department or go to their website. They usually have resources that will show you how to get adequate coverage at great rates. The right information will definitely place you in a better position to realize more savings.

7. Car Insurance Basics Explained by
In the pst trying to get thebest car nsurance quote meant lots of phone clls and lots of scribbled quote ntes. Not any more. The Internet mkes things a lot easier and wth the right homework you can lso save lots of money. Here we xplain Insurance Quote basics and hoe to sve £100's.

8. Life Insurance - A Beginner’s Guide by
When it cmes to life insurance we have two prmary types of policy to choose frm – term life insurance or whle of life insurance. Many people fnd it hard to come to a dcision about which type of policy to tke out but the decision you hve to make really isn’t that cmplex and both will offer good lvels of cover for the majority of pople. Let’s take a closer look at yur options.

The most popular type of lfe insurance is, without a doubt, trm life insurance. This ...

9. 5 Crucial Tips When Comparing Renters Insurance by Frank Collins
Most rnters' insurance policies will insure you for the ctual cash value ( ACV ) of yur personal property. For example, if you pid $1,000 for a stereo system 4 yars ago it may only be crrently worth $400 which is what you wll receive when filing a claim.

10. How Can I Get Cheap Ski Travel Insurance by Paul P Stanley
You prbably took great care to plan yur holiday, so why not insure tht your holiday goes as smoothly as pssible in the event of an mergency. Cheap ski travel insurance offers vry affordable coverage for you and yur family for surprise events that culd affect or force you to cncel your holiday plans.