Buying and Saving with Homeowner's Insurance

Buying the right homeowner's insurance policy is not something you're probably thinking about on a daily basis. Today, I thought I would give you some food for thought...
When you purchase a home you need to protect your investment, as does your lender. Homeowner's insurance will help you do that. Here are a few tips to help you save some time and money...
DETERMINE YOUR INSURABILITY:
You insurance provider will ask you things like when wass the home built? How old is the plumbing and electrical? What about the roof? What is the square footage of the home? and What claims have been filed in the last 5 years?
DEDUCTIBLES:
You may be able to save money by increasing your deductible. Most companies offer deductibles up to $10,000 (be sure to check with your agent about deductible policies).
HOW MUCH INSURANCE DO I NEED?
Your replacement cost should be somewhere between 125%-200% of the home's value. You want this amount of coverage because the cost to rebuild your house may be more than its current value. This could be because of inflation or higher priced materials. Either way, its better to be safe than sorry.
POLICY OPTIONS AND AVAILABLE DISCOUNTS:
You should review your policy options periodically to see how much Liability coverage you have. This will provide protection arising from other's bodily injury or damage to other's property. Also, be sure you are taking advantage of all available discounts. If you have working security system, are over 50, or the biggest, multi-line discounts.
REVIEW YOUR POLICY:
This one is always a fan favorite. I know everyone loves reviewing their insurance policies. This is something we should all do at least once every three years though.

So, remember all these things when it comes to your homeowners' insurance, and you'll be covered!

Oh By the way... I'm never too busy for any of your referrals!

Big Surge in Mortgage Applications!

The first week of 2009 proved to be a busy one for mortgage lenders. Rates for a 30 year fixed rate mortgage are hovering and even dipping below 5% for some applicants. This is a major cause for the mortgage applicant index to be higher than it's been since July 2003. Now that the federal government is committed to buying mortgage-backed securities to keep borrowing costs low, many experts predict that rates will stay low for the next quarter. Note to all first time buyers out there, NOW'S THE TIME to buy. House values have yet to be effected by the rally of mortgage applications.

Oh By the way... I'm never too busy for any of your referrals!