This may seem like old news but we are in a bit of an economic bind these days. Front and center in this bind is the home foreclosure crisis which is gripping America from coast to coast. Those who failed to make their mortgage payments and had their home foreclosed on are left scratching their heads wondering where they went wrong. It may have never occurred to them but homeowners insurance could've saved their home.
Yes, believe it or not, an expense like homeowners insurance can actually help you with your mortgage expenses. It might sound backwards but as the saying goes, "you have to spend money to make money" and homeowners insurance is no exception. So how exactly can you utilize your insurance to prevent your home from being foreclosed on?
Consider job loss insurance - Often added as a rider to a standard homeowners insurance policy, job loss insurance has risen in popularity in the wake of the foreclosure crisis. Purchased while still employed, job loss insurance pays for part or all of your mortgage should you be unemployed for a number of reasons.
Many homeowners pay too much for coverage without knowing. The key to not falling into this trap is by comparing insurance quotes from a number of different companies in order to find the best policy at the right price.
Use Your Insurance for Your Advantage
If you own a home then you probably realize the importance of homeowners insurance. It's something you need anyways so why not optimize it to work in your favor? Job loss insurance and comparing quotes are just two ways to make sure your home stays yours. Contact your home insurance agent about other ways you can save on insurance.
Stay on Top of Your Homeowners Insurance Policy
As a homeowner, you are responsible for so many things; it could be easy to get out of date with your insurance coverage. One of the big risks you face is being under insured or not realizing the gaps in your homeowners insurance policy.The best way to save on homeowners insurance in a rough economy is by increasing your deductible (the amount of money you pay out of your pocket for repairs and damages before your insurer pays). Not only should you constantly check-up with your insurance policy each year, but you should also keep an eye out on your credit score, since it will greatly influence how expensive your premium will be (a low credit score means high premiums). Discounts are always a plus, so you should ask for them whenever possible to reduce insurance quotes.
It is best to be aware of these problems before they actually become problems and you end up paying out of pocket to get your house repaired. Talk to your insurance agent to make sure these gaps don't apply to your homeowners insurance quotes.
Yes, believe it or not, an expense like homeowners insurance can actually help you with your mortgage expenses. It might sound backwards but as the saying goes, "you have to spend money to make money" and homeowners insurance is no exception. So how exactly can you utilize your insurance to prevent your home from being foreclosed on?
Consider job loss insurance - Often added as a rider to a standard homeowners insurance policy, job loss insurance has risen in popularity in the wake of the foreclosure crisis. Purchased while still employed, job loss insurance pays for part or all of your mortgage should you be unemployed for a number of reasons.
Many homeowners pay too much for coverage without knowing. The key to not falling into this trap is by comparing insurance quotes from a number of different companies in order to find the best policy at the right price.
Use Your Insurance for Your Advantage
If you own a home then you probably realize the importance of homeowners insurance. It's something you need anyways so why not optimize it to work in your favor? Job loss insurance and comparing quotes are just two ways to make sure your home stays yours. Contact your home insurance agent about other ways you can save on insurance.
Stay on Top of Your Homeowners Insurance Policy
As a homeowner, you are responsible for so many things; it could be easy to get out of date with your insurance coverage. One of the big risks you face is being under insured or not realizing the gaps in your homeowners insurance policy.The best way to save on homeowners insurance in a rough economy is by increasing your deductible (the amount of money you pay out of your pocket for repairs and damages before your insurer pays). Not only should you constantly check-up with your insurance policy each year, but you should also keep an eye out on your credit score, since it will greatly influence how expensive your premium will be (a low credit score means high premiums). Discounts are always a plus, so you should ask for them whenever possible to reduce insurance quotes.
It is best to be aware of these problems before they actually become problems and you end up paying out of pocket to get your house repaired. Talk to your insurance agent to make sure these gaps don't apply to your homeowners insurance quotes.
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