Murfreesboro Homeowners Insurance Knowledge
Home insurance is necessary to protect not just your belongings, but also your physical home. While no amount of money can replace pictures of your children, the coffee table you bought when you first got married, or the energy that you put into making your house a home, home insurance exists so that when you start over from a theft or storm or fire, that you don't have to go into your own pocket to begin anew.
Tennessee Home Insurance Basics
Before you sign any policies, it's important that you know the home insurance basics so that you make an informed decision with full context. Don't be alarmed if you paid $200,000 for your home and it's only insured for $100,000. Remember that your lot has value even without a house on it, and that property won't burn down even if the house does.
TN Home Insurance Dwelling
Property/Dwelling/Contents—There are three figures that will surround any policy: the cost of the property (what you paid for your home), the dwelling insurance rate (cost to replace your home in full), and your contents rate (cost to replace all of your possessions).
"Contents" is basically anything that would fall out of your home if you turned it upside down and shook it. If you own a lot of expensive things, it's best to a) get higher contents insurance and b) video tape your belongings to prove to adjusters what you own in case you ever need a claim for your home insurance.
What's Not Included, Tennessee Home Insurance Riders
There will be a few things that are not going to be covered under the typical home insurance policy. Anything that is not covered on your policy, but is covered on a separate, appended policy is called a "rider." For example Jewelry is covered, but usually only up to $1,000. To protect any family heirlooms or your wedding ring, you'll need to take out a separate rider for those items. Another example would be Home Flood insurance, which is often required in certain areas, is a separate piece to your home policy. The same goes for wind and hail.
Is Home Owners Insurance Required?
If you are buying a house, you will need to secure home insurance before you close. The bank will require this so that you protect their investment. If you own your house outright (i.e. there is no mortgage on it), you technically do not have to carry home insurance. It's a great idea so that you don't get left holding a big bill and nowhere to live should the worst occur, but technically, it is your property and if you don't want to insure it, you don't have to. The wise thing to do is to keep a home insurance policy even once the title is transferred upon payoff.
The weather is finally cooling down, and soon the leaves will be falling! With this lovely change in temperature comes a reminder to prepare your home for the coming cold. Properly inspecting and cleaning your home's exterior can avoid cracking gutters, breaking heat systems, and other preventable hardships.
Everybody wants to feel at peace. How is this accomplished? Unfortunately, I do not yet, and probably never will, have all the answers. But I do have a good starting point. This is not a self-help post. It's not a 'Get Rich Quick' scheme. It's simply the introduction to a 12-week course I'm taking on personal finances - how to manage money, create and use a budget, and invest in ways that make sense for me and my family.
Each year before school resumes, Tennesseans have the opportunity to purchase specific items without any sales tax added. In previous years, it fell on the first weekend in August. However, legislators passed a law in 2016 to move the sales tax holiday to the last weekend in July starting this year.
Think home security in Tennessee is still about bulky camera equipment and wires running all throughout your home? Think again. Today, things have changed quite a bit, and the playing field has been leveled. Advanced tools and security systems are more accessible and affordable than ever. (And installing them might get you a discount on your homeowners insurance, too.)
Whether you own a vehicle, home, or both, it's important to understand what insurance and a warranty does and does not cover. Think of it this way: Insurance covers what makes your car or home a car or home, and a warranty covers what makes your car or home comfortable and desirable. Read the full article so that you can know the important differences that could save you money!