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Homeowner’s insurance is not required by Nevada state law. If you own your home outright you do not have to insure it. However, if your home is being financed, then your mortgage holder will almost certainly require you to buy homeowner’s insurance.
But even if you do own your home free and clear it still may be a good idea to insure what, for most people, is their largest and most valuable asset.
Since your homeowner’s insurance is primarily designed to repair or replace your home in the event of a covered calamity, it is important that you not underinsure your home by underestimating its replacement cost. Talk with a contractor or a knowledgeable local real estate agent and find out what the true replacement cost of your home is and have your home insured for that amount. If your policy offers an inflation feature so that the value of the policy rises over the years along with the replacement cost of your home, that would be a good feature to consider.
It might also be a good idea to spend a day taking a walk through your home and documenting the contents of your home, since your homeowner’s policy will also cover contents. It may even be a good idea to get photos or make a video showing the contents of your home, including coin and stamp collections, jewelry, golf clubs, computers, artwork and other notable assets.
Fire is one of the biggest threats to your home and its contents, so if you can eliminate the threat of fire as much as possible you should be able to lower your homeowner’s insurance premiums and save money. Start by making sure you have the proper number and placement of fire and smoke alarms, and make certain they are all working properly.
Next, buy at least one fire extinguisher for the kitchen.
Cut dry brush and weeds away from any structures, and make your home as fireproof as possible.
Also cut any trees or bushes away from doors and windows so burglars will not have a convenient hiding place for breaking into your home. Make sure all doors have working deadbolts and that all windows, even upstairs windows, have locks.
Trim trees that overhang your home so that there are no branches which could break off during wind or rain.
Also keep your credit rating as high as possible. Many people are unaware that their credit rating can affect the amount they pay for homeowner’s insurance.
For your own information be aware of what your homeowner’s policy does not cover. The vast majority of homeowner’s policies do not cover flooding and many do not cover wind damage. Your policy may have additional exclusions.
Once all of this is done then you are ready to go online and fill out the forms at several of the websites designed to let you compare homeowner’s insurance policies head-to-head. Remember that if you truly want to find the best rates on homeowner’s insurance in Nevada you will need to run all of your figures on at least 3 different websites in order to insure that you will see comparisons of all the major insurance companies.
Recommended sites for low rate insurance
www.ezquoteguide.com/home/ Best Rates On Homeowner’s Insurance Quotes in Nevada
www.myquoteguide.com Instant Home Insurance Quotes Online
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