hat deductible should changing. Many people feel that
you carry on your since they are paying for the
Homeowners Insurance? insurance, if the occasion
What does home maintenance have arises, they are going to submit
to do with the deductible on your a claim. If they are only going
Homeowners Insurance? Home to get five dollars after the
maintenance, the deductible on deductible, they are still going
your Homeowners Insurance and the to make the claim. The insurance
price you pay for that Homeowners companies are tracking these
Insurance all go hand in hand. losses. Now they are starting to
increase the cost of insurance
Years ago, people would only use for those people that are making
their Homeowners Insurance in the numerous claims, and they are
event of a catastrophic loss: even nonrenewing policies for
their house burned down, or homeowners who have multiple
burglars stole all their claims. The insurance companies
belongings. It was a common rule feel that homeowners should not
of thumb that homeowners would be using their insurance for home
use their insurance on the maintenance.
average, two point something
times during their lifetime. If Insurance companies are also
someone backed into the side of phasing out lower deductibles.
the garage on the way to work, Some companies no longer have a
they would take care of it and $100 deductible or $250
not submit a claim. Because of deductible. The $500 deductible
that, insurance companies did not could be next. Insurance
penalize homeowners for using companies are now adding a 1% or
their insurance. 2% deductible - 1% or 2% of the
dwelling amount - the amount you
Nowadays that mindset is are insuring your house for. If
you insure your home for home from work some night and
$500,000, a one percent discover your house filled with
deductible would be five thousand smoke, you may have suffered a
dollars. A two percent deductible "puff back". Your clogged furnace
on that same house would be ten exhaust just filled your house
thousand dollars! You can see with oily smoke instead of going
that the insurance companies are up the chimney. Now you have to
trying to do away with small have your walls and furniture
claims. cleaned. Maybe your clothes have
been smoke damaged. You probably
That is not necessarily a bad could have prevented this
thing. Some insurance companies disaster by having your furnace
will charge for a deductible cleaned and serviced.
lower than the standard
deductible. On the other hand, Maintaining your home could
they will discount for a prevent a number of costly
deductible higher than the claims. Have your furnace cleaned
standard deductible. In this age and serviced. Replace worn
of rising costs, taking a higher shingles on your roof. Replace
deductible might make good sense. the hoses on your washing
I strongly urge you to discuss machine. You may prevent claims,
the deductible options your avoid large out of pocket
insurance company has available expenses, and afford a higher
with your insurance agent. deductible which could in turn
lower the cost of your homeowners
So what does this have to do with insurance.
Home Maintenance? If you come
About the Author:
Douglas T. Zinkevicz has had over a decade of experience servicing the auto,home and life insurance needs of his clients. Let him help you with your insurance questions by visiting http://www.insuranceplus.blogspot.com.
Read more articles by:
Douglas T Zinkevicz
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