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Save on Mortgage Insurance Premium

September 16th, 2015 3:41 am

You might have purchased mortgage insurance if you are a homeowner or a landholder. Ensuring that you are offered maximum coverage at lowest cost is certainly one of the most important things while obtaining a policy, especially when paying less on your insurance premium increases your return on investment.

Insurance providing companies decide upon your monthly premiums after taking into account the surrounding risks that might harm your property. The lower the risks, the better it is for you as you can secure lower monthly premiums. So, to minimize the hazards and also the monthly installments for your coverage, make sure to put in the following things in your house.

Leak Detectors
You might enjoy 2 to 5 percent reduction in your monthly installments if you have leak detectors installed at your home. As these detectors come with automatic alarm system that comes into effect the moment water touches them, they can help in preventing a major mishap by sounding an alarm like in case of plumbing failures. You can get higher end models connected to your plumbing system, which have the ability to shut off the water instantly when a lead is noticed. By installing leak detectors at your residence, you not only can avert accidents but can also enjoy saving a big on your mortgage coverage.

Burst-Free Hoses
Putting in burst-free hoses on water supply lines is another effective way of paying less towards monthly coverage. Although, it costs twice as much as conventional supply lines, you are sure to enjoy reduced monthly costs in addition to preventing water damage. Imagine a supply line of your upstairs bathroom busting at a time when you are not at home and water leaking down through the ceiling. Later, examining the severity of damage, when you find out how much would it cost to fix the damage, you would definitely wish to have invested in burst-free hoses. However, ensure to take pictures after you have installed the hoses to provide a proof to your insurance carrier.

Fire Extinguishers
Unfortunate accidents like fire catching up your house can occur any time and to anyone. Having a fire extinguisher on each story of your residence can help you in enjoying lower coverage cost. By having fire extinguishers as safety measures you are considered to be at lower risk by insurance providers and hence they do not hesitate to provide you with reduced coverage cost. However, make sure that the extinguishers are in proper working condition.

Smoke Detectors
Apart from installing leak detectors, make sure to put in smoke detectors on every floor of your house. This in turn allows you to achieve five percent reduction in your monthly payments. If your home has a fireplace or a gas fueled appliance, ensure to have carbon monoxide detectors within a few range of all sleeping areas of your dwelling.

Besides, simple dead bolt locks can also help you in saving on your mortgage coverage. If your residence already has them installed, make certain that your insurance company is aware of them. The dead bolt locks are easy to find in any house improvement store.

Antique Jewelry Insurance

September 16th, 2015 3:39 am

Antique Jewelry or old fashioned jewellery as it is often referred to is jewelry that is of a certain age usually over 70 years old. Antique jewelry is treasured as it has often been handed down through generations holding memories and meaning.

Many people buy antique jewelry as an investment, this is because like land its value will increase over time so the older the piece of jewelry is the more expensive it will be.

If you are lucky enough to have been handed down or have purchased a piece of antique jewelry whether it is a necklace, ring or broach it is strongly recommended that you insure your treasured piece.

You may assume that your antique jewelry is covered by your home insurance however this is not always the case, quite often your home insurance will cover you if your piece of antique jewelry is stolen but it may not cover you is the is lost or damaged.

Although you will never be able to replace the sentimental value of a piece of antique jewelry it may easy your mind if you can at least replace the item should it be lost.

It is wise to read you insurance policy very carefully or contact your insurance company to ask if you are covered for this type of event.

If you current insurance policy does not cover you fully for your antique jewelry then you may be able take out additional cover however it important to know and understand the cover you are going to be paying for.

Make sure your policy will cover you for loss and damage and also check if you will still be covered should the loss or damage happens when you are out of the country.

Check that you will be reimburse for the items full replacement cost and will you receive a replacement piece of jewelry or could you opt for a cash settlement.

Quite often your insurance company will ask for an appraisal before they allow you to take out the insurance to cover your antique jewelry. Check if this is something you can arrange yourself or if it is something your insurance company will need to arrange.

Will you have to pay an excess, if you lose or damage you antique jewelry and need to make a claim will you have to pay a sum of money before the claim can go through, how will this effect your existing policy and most important how much is the excess.

If your insurance company does need your antique jewelry appraised then it is advisable that you receive more than one appraisal so that you can compare the estimates and know that you are insuring your item for what it is actually worth, it is quite common to purchase a piece of jewelry one day and get an appraisal the next for a much higher amount. I would recommend that you have an appraisal done regularly and advise your insurance company of any increase / decrease in value.