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Protect Your Investment with Homeowners Insurance

Owning a home is everybody's dream. This is one main reason why people work so hard, not only to earn a living but to have their own shelter for their family. Owning a home is like putting one's self and family to security and stability. It is best to invest for your own place to stay and live in, rather than rent a place and pay for the monthly bill. This is what people call pride of ownership. Owning one means you can do anything you want in it like painting it with any color or design, attach fixtures or decorate it according to the owners' taste or mood.

Some people go for housing loans especially ordinary people, the not so rich ones, who can't afford to buy their own. A housing loan requires you to pay for monthly amortization in a specific span of time depending on the contract that the loaning company provides until such time that it will be totally turned over to the payer. For the natural born rich people, buying or owning a home is as simple as 1 2 3. Either they buy a house and lot ready for occupancy, or a lot property and then pay for architects and engineers and have it built the way they want it.

However people want to do it on how they can achieve their dream of having their own home, it is still considered to be a perfect plan, a good decision. Owning your home is an investment like owning a car or an expensive gadget. An investment means you shelled out a big amount of money; or as others quote it, hard earned money and it cannot be easily ignored by anybody. So once people paid out a big amount, this means it is something that needs to be taken care of and valued. So how do you it? Protect your investment with home insurance.

What is a home insurance? Home or Homeowners Insurance is known as hazard insurance, a type of property insurance that protects private homes as well as liabilities. It is designed to protect home owners against certain dangers or threats. It includes coverage of loss that occurs to one's home, its substance, and loss of its use or personal custody of the homeowner. It is also liable for unforeseen accidents that may occur at home, and disasters such as fire, theft and more. Home insurance is normally settled under an insurance policy.

Here are some tips for getting insured. When choosing an insurance policy, it is imperative to understand what you are getting in purchasing a home insurance policy. Some people get their insurance purchase over the internet by means of popular online quote sites while some people go with the traditional local agent. Whatever the choice is, to know and to understand the home insurance policy coverage is the first thing that needs to be considered.

So whether the policy was purchased online or thru a local agent, the usual homeowners insurance policy is divided into 2 parts as what was mentioned in the early part of this article. First part is the Home Insurance Property Protection and the second part is the Liability protection.

The first part is usually the first page in a home owner's insurance policy, and is normally further divided into four additional sections. First coverage is the Dwelling. It covers one's house and includes electrical wiring, plumbing, fixtures, built in appliances, air conditioning and heating. Second coverage is the Other Structures. It normally covers structures that are detached from the house like driveways, patios, retaining walls, fences and garage. Detached structures that are used for business purposes are not covered under this category. Third coverage is the Personal Property. It covers personal items found inside your house and owned by a family member that lives with the owner. The protection of these items is normally based on the actual cash value of the item. In this structure, certain limitations are in place. It does not cover items such as firearms, business property items, jewelry, money, and electronic data unless extra coverage will be added to the insurance policy. Lastly, the Loss of Use which covers living expenses that is above the normal living expenses. This is paid for the time the owner can't stay in the place because of renovations or repair.

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