Homeowners Insurance Statistics guide

possessions. You need to pay an extra premium but on the same hand increase your deductible to make the coverage somewhat cost-effective. Similarly the structure of our house is also to be insured in these three ways but with slight variation.

According to current facts and statistics presented by National Association of Insurance Commissioners in 2002 the average expenditure on homeowners insurance increased by 12% from 3 to 8 in 2003. Expenditure varies with the state. For example in 2003 Texas witnessed the highest average expenditure of 28, in Oregon it was 1, Delaware 2 and Maine 2.

Expand the description and view the text of the steps for this how-to video. Check out Howcast for other do-it-yourself videos from bracey and more videos in the Home Insurance category. You can contribute too! Create your own DIY guide at www.howcast.com or produce your own Howcast spots with the Howcast Filmmakers Program at www.howcast.com You can’t be approved for a mortgage without homeowners insurance, which will cover you if a tree falls on your home, a guest trips on your stairs, an intruder makes off with your valuables, and much more. To complete this How-To you will need: An estimate of the replacement cost of your home and its contents A visual inventory of your valuables Insurance rate quotes Insurer strength ratings A high deductible An annual policy review A professional appraiser A floater policy Add-ons for flood and earthquake coverage Extended replacement coverage Step 1: A standard policy covers property damage caused by certain disasters; personal belongings, up to a limit; personal liability, which protects family members from lawsuits related to injury or property damage they may cause others; and medical coverage, which pays the expenses of non-family members injured on your property. Step 2: Calculate how much insurance you need to carry. Homeowners insurance reimburses you for the cost per square foot of rebuilding your home—not the market value of the house. Step 3: Figure out how much it would take to replace the contents of your home, which …
Video Rating: 4 / 5

Related Homeowners Insurance Articles