Key Aspects of Home Insurance in Las Vegas

Losing everything you own to robbery, a fire, or some natural/manmade catastrophe is unimaginable, but when time comes that these unthinkable instances decide to throw you a curveball, it pays to be prepared and insured. Anyone who has survived a devastating house fire will tell you that you would never want to know what it feels like to have nothing but the clothes on your back and make you realize the value and importance of securing home insurance.

At one point in your home purchase process, you should consider securing an insurance coverage. Many first-time home buyers are often hopelessly unprepared for this additional expense, which is why you should factor it into your budget even before securing an offer to the property you want. A real estate agent worth his salt should be able to explain to you more than just the purchase process. Ideally, he should also be able to counsel you on the way that home insurance works. Fortunately, insurance companies are always there for people whose agents fail to provide advice on insurance. Here are some key aspects of home insurance you should know about as a new home buyer:

• Start with the kind of coverage you need. It is important that you know just how much coverage you and your property needs. Home insurance value should be based on how much rebuilding the house would cost instead of what the property is worth in the open market. There are numerous ways you can determine the insurable value of your home and insurance agents can also provide you with sound estimates.
• A typical home insurance policy will cover damages to the property caused by fire, natural disasters, theft, and vandalism. Other companies, particularly in an earthquake and flood-prone areas also provide policies that cover these types of damages.
• Home insurance may also cover your belongings and possessions up to a certain limit. This is usually a percentage of the actual value of your home insurance (typically 75%).
• Policies also have their limitations. Typical coverage may not include certain items or exclusions like water damage due to flooding or sewer/drain backups, loss of pets, damages resulting from war, automobile loss or damage, neglect, earth settlement and other movements, power failure, etc.
• Choose a deductible that you can comfortably afford. This is the amount of money that you can expect to come out of your pocket before your insurance provider begins paying your claims.

About the Author:

Chester Corpuz is the Owner of Las Vegas Auto Insurance. He has been in the insurance and finance industry for over ten years. Chester has a Degree in Finance from the University of Nevada Las Vegas. His ambition is to teach people how to save money by helping people understand issues in finance and insurance.

DISCLAIMER: Nothing contained in this article is intended as insurance advice nor does one relying upon that which is contained herein create a client relationship with the author or his affiliates. Please contact a licensed insurance agent before taking any action on this advice.

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Thank you for visiting Las Vegas Auto Insurance. The information contained herein presents general information about our agency and is not intended to constitute legal advice. Also, before acting on any of the materials presented here, we advise you to please speak to a licensed insurance agent before taking any action.

Chester Corpuz is the Owner of Las Vegas Auto Insurance. He has been in the insurance and finance industry for over 10 years. Chester has a Degree in Finance from the University of Nevada Las Vegas.