When you are comparing home insurance rates, it is important to understand all the factors that go into your insurance quote. Here are some little-known items that impact your homeowners insurance premiums.
Dogs
Because of the risk of a dog bite, the presence of certain types of dog breeds in your home could raise your rates. If the dog you own is from a breed that has a history of aggressive behavior (pit bulls, rotweillers, etc.) then your homeowners insurance company may charge you more, even if your dog has never had an aggressive incident.
Pools
Pools add additional liability and expense to a homeowners insurance policy. Be sure to keep your pool area fenced in to help control insurance costs.
Flooding
Floods are not covered under a homeowners insurance policy.
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How many of us actually read our insurance policy documents when they drop through the letterbox? Insurance Blogger has just renewed my home insurance and the particular policy booklet is thicker than the local freeads, that arrived at the same time. So this got me thinking about all those people who purchase home insurance cover online and are probably under-insured in some minor or major way!
Although many people who own their own houses in the UK are likely to have some type of basic insurance policy on their property, the extent of that cover, sometimes turns out to be entirely inadequate for the misfortunate few who thought they had bought a good deal.
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A new bill in Florida that could result in higher home insurance rates for state residents cleared a Senate committee last week.
Senate Bill 1330 (SB 1330) would allow insurers to increase home insurance rates in Florida by up to 30 percent a year – without authorization from regulators.
SB 1330 aims to deregulate Florida home insurance rates by authorizing insurers to use rates that differ from rates approved by the Office of Insurance Regulation (OIR). Under current law, rate hikes that are deemed excessive can be rejected by regulators. But under the proposed legislation, insurers would be allowed to raise home insurance rates without approval.
On March 16, 2011, SB 1330 was approved by a Senate insurance committee by a vote of six to three. <
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Consumers who are interested in home insurance that covers flood damage may want to hurry, according to a recent report from the Insurance Information Institute.
The organization noted that the National Flood Insurance Program will lose its authorization on September 30, 2010, and there is no guarantee that Congress will extend it immediately.
The NFIP provides for financial protection against flood damage. Full Article…