Home Insurance Claims: Help, my house flooded – now what?

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    There are many myths among the people about home insurance. Some people are not aware about the standard coverage of the home insurance policies. Following are the major 10 myths which people have in their minds:

    Some insurance companies offer unlimited cover. This means you don't have to worry about how much cover you need or whether it is adequate. Other insurers offer premiums based on a simple assessment of where you live and the type, age and size of your property. Premiums may be paid monthly or annually. If you are offered a monthly option, check whether the insurer charges extra for the privilege of spreading the payments.

    After climbing steadily for several years, homeowners insurance rates in Phoenix seem to settling down. In fact, some companies are lowering premiums by as much as 24 percent. Follow these tips to keep your Phoenix homeowners insurance rate as low as possible.

    Homeowners insurance is a contract between you and your insurance company that protects you from financial loss when your home is damaged or destroyed, or when someone hurts themselves and you're found to be at fault. You pay a premium for which your insurer agrees to pay for any damages that are outlined in your policy.

    "We believe in providing our customers with long term good value and our latest home insurance offer is no exception,” said Robin Baily, Nationwide’s insurance director. “As well as a 20% discount on combined buildings and contents cover now, we also commit to providing 20% off next year's premium should these customers wish to renew their policies after a year. By opting for Nationwide's home insurance, customers can be sure that they're not only benefiting from excellent customer care, but also being rewarded for their continued loyalty."

    Though the laws regarding dog bites vary by state, home insurance policies either provide little coverage or no coverage for dog bites. For home owners who have an aggressive dog or a dog from a breed with the reputation of being aggressive (pit bull, Doberman, etc.), home insurance policies are even less likely to provide coverage. As lawsuits regarding dog bites are common, any homeowner with a dog should be certain to understand what his or her home insurance covers.

    It also provides liability coverage, so if someone hurts himself on your property your insurance will pay for any court-awarded damages, your legal fees, and any necessary medical costs.

    These websites let you fill out a homeowners questionnaire right online and will then submit the application to multiple insurance companies. Before you know it, you'll receive rate quotes from A-rated insurance companies. Then all you have to do is compare the quotes and choose a company. (See link below.)