Homeowners auto insurance can be costly, but necessary. The premiums for each insurance agency vary widely from company to company, so it pays to take the time and effort to shop around to get the best value for your insurance dollar. There are many things you need to consider when purchasing insurance for your house and vehicle Below are some not so common things when you are thinking about purchasing these needed and required insurances.

FLOOD INSURANCE
Homeowners insurance seldom covers flood damage. In most cases, property owners must purchase flood insurance to protect against damage caused by flooding. Please contact your insurance agent if you have a question about whether your current homeowners policy covers flood damage.

If you car is damaged due to a flood, it will be probably covered under your insurance. A lot of acts of God are covered for you auto insurance but not your homeowners. Your insurance agent or your insurance terms will let you know.

For both your auto and homeowners insurance, check your policy to ensure that belongings are covered for anyone living in your home. Whether you are husband and wife, or have a domestic partnership, make sure both of your names are listed on the deed, mortgage, automobile and homeowners policy. If you are renting space in your home to another person, be sure that person has their own renters insurance to cover any losses. If you are letting someone borrow your car, your insurance should cover something happening to your car along as that person is licensed.

Homeowners and auto insurance is not only required to obtain a mortgage and a car loan, it also makes sound financial sense to cover these valuable assets. It is important that you take the time to read through the insurance policies to understand what is covered and what, if any, coverage needs to be added.

The only time a Homeowners insurance policy should be involved with damage to someone else’s property is if there is liability involved. That is if the tree was rotten or leaning and should have been removed or trimmed prior to the damage occurring. Even then the damaged properties insurance policy will generally pay for their customer’s damage and then try to recover their money from the tree owners’ insurance company. With a car, you are also liable for an accident. Let’s say your car roles down a hill because your breaks gave out, you are still liable even if you were not in the car.

When you apply for homeowners or auto insurance, you’ll provide a great deal of information. The insurance company will ask you about your current occupation and employment history, marital status, previous addresses, and date of birth and Social Security number. The insurer will check your criminal, credit, and insurance history to see if you are a “good risk.” The insurance company also will look at your loss history to see what kinds of home insurance claims you’ve made in the past.

The above information covers some of the things you need to think about when purchasing insurance for your home and car that you may have thought about before. Getting the best price for your homeowners auto insurance will be possible if you keep the above in mine when getting a new insurance quote.

Author Bio: David Olmst has written many articles about homeowners auto insurance. He enjoys helping people get the best insurance for their home and car at the best possible prices.

Category: Finances
Keywords: insurance, quotes, homeowners, auto