If you recently purchased a home, and thus got your first homeowner's insurance policy, it is important that you understand how your homeowner's insurance policy works. You need to understand how your homeowner's insurance policy works so that you can take full advantage of your policy.
Make Sure that You Keep Up with Maintenance
You need to make sure that you keep up with maintenance on your home. Homeowner's insurance does not want to pay to help you maintain your home, they want to pay to help take care of accidents around your home.
Make sure that you keep up the maintenance on your home and keep good records of the maintenance that you do. For example, you should get your water heater and HVAC system inspected on a yearly basis. That way, you can easily prove to your insurance company that you were on top of maintenance if your hot water heater were to start leaking or if your HVAC system were to get damaged in a storm. You would be able to prove that you took care of maintaining these items and that the damage to them is something that your insurance could cover.
Taking care of maintenance is one way to ensure that when you need help, your homeowner's insurance policy will cover it.
Inform Your Insurance Company of Preventative Measures
When you take preventative measures on your home, you are going to want to make sure that you inform your insurance company about the preventative measures that you have taken. Preventative measures are a good way to reduce your homeowner's insurance policy.
For example, if you don't have deadbolts on your home, and you install deadbolt locks on all of your exterior doors, you could reduce your insurance premium by a small amount. Or if you install a burglar alarm or put new water and heat sensors in your home, you could also reduce your premium. Taking steps to increase the security of your home can also help you reduce your insurance premium.
Know When & How to Report Claims
Find out when and how you should report claims to your insurance company. Although you don't need to make your claim immediately after an incident takes place, you want to make your claim as quickly as possible. Most insurance companies have a time limit during which you can make a claim. Additionally, if waiting to make a claim makes the situation worse, such as water damage that you just let sit, you could risk getting the claim denied. It is important to make sure that you know the time frame for reporting damage to your insurance company.
To learn more, visit a website like https://www.windfallinsurance.com.