Common Mistakes Homeowners Make When Shopping For Home Insurance

Buying your home is probably the most significant investment in your life. Therefore, you want to make sure that this investment is well protected. The best way to protect your property is to purchase home insurance. However, choosing the right policy might be difficult, and many homeowners make inevitable mistakes. It is crucial to know these mistakes, so you can avoid them and make the right decision: 

Purchasing The First Policy That Comes

One of the biggest and most common mistakes homeowners do is getting the first policy that they found. It is important not to rush and compare different policies from several insurance companies. Even if you believe you have found a perfect plan, it is always worth checking other insurance companies and see what they offer. 

Not Getting Enough Dwelling Coverage

Dwelling coverage is a specified amount of money that you will receive to cover the structure of your home. Ideally, dwelling coverage should be enough to rebuild the house thoroughly. It is recommended to discuss it with an insurance agent who will be able to help you to choose the right dwelling coverage.

Not Insuring High-Value Belongings 

A standard home insurance policy covers personal belongings only up to 50-70% of their total value. Therefore, if you have some expensive stuff, such as antiques, artwork, and jewelry, you will need to buy an additional endorsement to make sure that these valuable items are protected. 

If you would like to get a perfect home insurance policy that will address your needs and budget, you need some professional help. The insurance company Family Insurance Associates serving Ruidoso, NM, and other surrounding areas is ready to help you to avoid the mistakes mentioned above and find a great home insurance plan. Give us a call today to talk to one of our insurance agents and learn more about the options available. 

Does Your Dog’s Breed Affect Your Homeowner’s Insurance?

Your pet can be a big part of your family. But, is it possible that your choice of dog breed can affect the homeowner’s insurance options on your Alamogordo or Ruidoso, NM property? Speak to an agent at Family Insurance Associates to understand how these facts on dog breed might impact your personal situation.

How Your Dog Breed Determines Your Homeowner’s Insurance Options

If your dog destroys your neighbor’s property or injures someone, your homeowner’s insurance policy is responsible for paying claims. Over 1/3 of home insurance claims in 2017 were related to injuries caused by dogs. That means insurance companies were hit for more than $700 million USD in damages. Insurance companies choose to lower their liability by denying coverage for families with high-risk breeds.

Each insurance carrier has their own method of verifying your pet’s acceptability. Some simply refuse any dog of a certain breed, regardless of your circumstances. Some, however, do a case-by-case evaluation. Information like formal training courses, history of violence against humans or other animals, and designations such as support animals may be taken into account.

What Happens With Potentially Dangerous Pets?

If your insurance carrier thinks your pet represents a higher risk, there are a number of ways they may respond.

  • A dog exclusion form states that you own a dog but the insurance company is not liable for its actions. That means your pet can live with you, but you’ll have to pay for any damages they cause.
  • Your insurer could refuse to provide coverage for your property. Any active policies may be revoked.
  • Some companies increase your premiums to provide extra protection for themselves against possible problems.

If your company doesn’t want to cover your dog, a dog liability policy can replace that portion of your homeowner’s insurance.

Contact Family Insurance Associates with your questions about dog breeds and your Alamogordo or Ruidoso, NM area homeowner’s insurance.

Are Security Cameras Enough to Protect My Home?

Home security systems can include a wide variety of devices but some experts believe all you really need is a good video surveillance system with a couple of extra features like still image capture and two-way voice communication. If you live in the Ruidoso, NM area and are looking into home security systems, the agents of Family Insurance Associates have helpful information you may need. Buying the right surveillance equipment will allow you to accomplish your goals without having to install different devices.

Eyes and Ears On Your Home

A video surveillance system allows you or a professional monitoring center to have eyes and ears on your home at all times. What this means is that you will have 24-hour coverage any time that a motion detector sends an alert that someone is on your porch or near your video cameras. This not only gives you ample opportunity to act, but it also will help you identify the person on your property.

Two-Way Voice Communication

Many security cameras, including the new video doorbell viewers, have two-way voice communication capabilities that allow you to talk to the person in real-time. This gives you an opportunity to keep them engaged long enough to get a good picture as well as get additional information as to why they are there.

Strategically placing your cameras so that all of your entrances are covered can help you stop a break-in before it is attempted. Video surveillance cameras have many features that can accomplish the majority of your security goals. The agents at Family Insurance Associates serve the residents of Ruidoso, NM and are always available to provide the information you need to make an informed decision when it comes to buying the best home security cameras on the market. Call today!

Common Uses of Homeowner’s Insurance in New Mexico

Homeowner’s insurance is a common way to protect your property in and around the home. This can be especially important in cases of large scale losses like natural disasters and fires. People who have pets or children can also be covered under a homeowner’s policy for damages they cause away from home as well. Many types of coverage should be discussed with an insurance professional like the ones at Family Insurance Associates to determine your specific needs.   

Each state has its own insurance laws and common kinds of incidents that usually occur due to weather and location. The Ruidoso, NM area has some specific threats from wildfires and extreme winds due to the geography of the state. The government has published an official document to provide more information about these disasters and how insurance coverage can help. Your homeowner’s policy may be able to cover the cost of damage as well as provide other temporary forms of assistance during repairs and relocation if necessary. It is also recommended to review the policy each year to learn specifics about coverage amounts and specific types of coverage that apply to your home. Having adequate coverage will help your life get back to normal if significant losses have occurred. Insurance companies will usually send an adjuster to verify the damages and then issue funds to help with repairs and other necessary changes during recovery time. 

If you are looking for a homeowner’s insurance company serving the Ruidoso, NM area and beyond, please contact Family Insurance Associates. Insurance professionals can speak to you about creating a policy tailored to your situation at the right cost. You can provide specific details about your home, family, and living situation to get the appropriate answers and proper kinds of coverage. Contact us for a quote.