PATH - A Public Private Partnership for Advancing Housing Technology
[IMAGE: Family in front of house.jpg]Discounts for high quality homes
Homeowners insurance is a packaged policy that combines property (damage to your property) and liability (damage to people on your property) insurance. As with all insurance policies, your provider determines your premium based on risk. The less of a risk you are the more money you get to keep in your pocket. But risk isn't only a factor of where you live. There are several home-improvements you can make that will prompt some insurance providers to give you a premium discount.
When shopping for homeowners insurance, find out from each agent or representative what discounts they offer. Be sure to ask about these common premium insurance discounts:
A separate disaster insurance policy?
If you live in a high-risk area, you may need to look into it. Keep in mind the premium discount idea, as improvements in building technologies are helping homes to weather these storms and insurers have taken note.
If you need a policy for earthquakes, hurricanes or floods, look for discounts available to you.
But before you sign the dotted line...
...make sure you know exactly what you're paying for. Don't assume your policy covers anything that isn't explicitly mentioned. Be especially diligent when it comes to mold damage coverage. Many insurers have begun to exclude it from homeowner policies, but you may be able to have it reinstated if you accept a higher deductible.
Content updated on 3/6/2007
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