Home » Finance » Insurance

Homeowners Insurance - Pricing Issues

Aug 18, 2007
Everyone interested in getting homeowners insurance should be aware of all the specifications that the insurance company will require. In the first place, it is necessary that the borrower covers at least the home for the value of the mortgage. This could represent enough according to the particular circumstances.

Generally the lender will require the client to have a homeowner policy in force at the moment of closing the operation. Besides, it could also be required to present a copy of the policy as well as the page where the total amount for the coverage is stated. Another requirement could be to designate the entity beneficiary of the loss. It is not an obligation to get insurance that will be recommended by the lender, but if there is no coverage in force, the lender institution will hire a policy for that coverage, and this could be more expensive. The lender is always protected and gets paid first if there is a loss.

Regarding the prices, these are good options to compare the different products offered by the companies on the market. In order to ask for a budget, the agencies will ask to provide them with the description of the housing, complete address, materials which it is made of, how many floors the house has, how old it is, quantity of rooms and coverage, among others.

This information is relevant for the company since the cost of the homeowners insurance will depend on the type of construction, location and amount of the hired coverage. There are many agencies that will charge less for assuring new housing instead of an old one, because the modern buildings are less probable to suffer damages from storms and fire. The location will determine if the area is considered a problematic one, due to statistics regarding vandalism and delinquency. Also the location of the housing will affect the total cost of the coverage since some communities have better protection from fire than others. The insurance companies divide the regions in different classified territories.

The contract of any type of insurance is a financial investment, therefore, as in any other payable transaction, it is important to take the necessary time to do some research and to clear up all the doubts before assuming a compromise. It is very useful to take into consideration the previous experiences of people in which we trust, since in this field it is very important to rely on references.
About the Author
Tristan Andrews is a freelance author who writes articles about Pennsylvania Homeowners Insurance and other Insurance topics for http://www.insurance-pennsylvania.com.
Rating:
Please Rate:
(Average: Not rated)
Views: 193
Print Email Report Share
Article Categories
    • Artists
    • Gambling
    • Humanities
    • Humor
    • Movies
    • Music
    • Photography
    • Tattoos
    • Television
    • Classic Cars
    • Motorcycles
    • Recreational Vehicles
    • SUVs
    • Trucks
    • Vans
    • Branding
    • Business Opportunities
    • Careers and Jobs
    • Corporate
    • Customer Service
    • Direct Mail
    • Entrepreneurship
    • Ethics
    • Financing
    • Franchising
    • Home-Based Business
    • Human Resources
    • Import and Export
    • Leadership
    • Management
    • Market Research
    • Marketing and Advertising
    • Negotiation
    • Network Marketing
    • Networking
    • Organizational
    • Presentation
    • Project Management
    • Public Relations
    • Small Business
    • Strategic Planning
    • Team Building
    • Telemarketing
    • Training
    • Data Recovery
    • Databases
    • Games
    • Hardware
    • Networks
    • Operating Systems
    • Programming
    • Security
    • Software
    • Spyware and Viruses
    • Ask an Expert
    • College and University
    • Home Schooling
    • K-12
    • Languages
    • Online Education
    • Psychology
    • Coffee
    • Cooking
    • Gourmet
    • Recipes
    • Wine and Spirits
    • Acne
    • Aerobics
    • Alternative Medicine
    • Beauty
    • Cancer
    • Cosmetics
    • Depression
    • Diabetes
    • Diseases and Conditions
    • Fitness Equipment
    • Fitness
    • Hair Loss
    • Heart Disease
    • Medicine
    • Men's Health
    • Muscle Building
    • Nutrition
    • Skin Care
    • Supplements and Vitamins
    • Weight Loss
    • Women's Health
    • Yoga
    • Arts and Crafts
    • Babies
    • Collecting
    • Elderly Care
    • Genealogy
    • Hobbies
    • Parenting
    • Pets
    • Pregnancy
    • Woodworking
    • Feng Shui
    • Gardening
    • Home Appliances
    • Home Security
    • Interior Design
    • Landscaping
    • Affiliate Programs
    • Article Marketing
    • Auctions
    • Audio
    • Banner Advertising
    • Blogging
    • Broadband
    • Domain Names
    • E-Books
    • E-Commerce
    • Email Marketing
    • Ezines and Newsletters
    • Forums
    • Internet Marketing
    • Link Popularity
    • Pay-Per-Click
    • Podcasting
    • RSS
    • Search Engine Marketing
    • Search Engine Optimization
    • Security
    • Social Media
    • Spam
    • Video
    • Viral Marketing
    • Web Design
    • Web Development
    • Web Hosting
    • Copyright
    • Cyber Law
    • Intellectual Property
    • National, State, Local
    • Patents
    • Regulatory Compliance
    • Trademarks
    • Buying
    • Selling
    • Baseball
    • Basketball
    • Boating
    • Cycling
    • Extreme Sports
    • Fishing
    • Football
    • Golf
    • Hockey
    • Hunting
    • Martial Arts
    • Running
    • Scuba Diving
    • Soccer
    • Swimming
    • Tennis
    • Dating
    • Divorce
    • Marriage
    • Weddings
    • Astrology
    • Buddhism
    • Christianity
    • Faith
    • Hinduism
    • Islam
    • Judaism
    • Meditation
    • Metaphysical
    • New Age
    • Cable and Satellite TV
    • Cell Phones
    • Communication
    • Gadgets and Gizmos
    • GPS
    • Satellite Radio
    • Video Conferencing
    • VoIP
    • Addictions
    • Coaching
    • Goal Setting
    • Motivational
    • Stress Management
    • Time Management
    • Clothing
    • Electronics
    • Fashion
    • Gifts
    • Jewelry
    • Causes and Organizations
    • Environment
    • History
    • Holidays
    • Men's Issues
    • Nature
    • Philosophy
    • Politics
    • Women's Issues
    • World Affairs
    • Air Travel
    • Camping
    • Cruises
    • Destinations
    • Outdoors
    • Article Writing
    • Book Reviews
    • Copywriting
    • Fiction
    • Non-Fiction
    • Poetry
    • Quotes
    • Screenplay
    • Tools and Resources