Having a homeowners insurance policy is important for protecting your finances. Home insurance is also generally required by mortgage lenders. However, it can be difficult to insure some homes due to a variety of circumstances.
The following are seven obstacles you may have to overcome when looking for a policy to cover your home.
The age of your home
Older homes are more likely to require extensive and potentially costly repairs.
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Maintaining adequate home insurance coverage is an important responsibility of homeownership. In fact, mortgage lenders routinely require borrowers to agree to maintain home insurance as a requirement of the mortgage lending terms. In addition to the financial risk involved, homeowners who fail to maintain home insurance coverage can be at risk of losing their home to foreclosure.
Homeowners are not, however, required to maintain coverage with the same insurance provider during the term of their mortgage.
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Anytime you rent a car, the rental company will ask if you want rental insurance. If you ask them whether you need it or not, they'll answer with a resounding yes. However, if you ask your insurance agent, you'll likely get an unconvincing "maybe."
Here's what you can do.
Check Your Car Insurance Policy
The only way to be certain whether you need rental insurance or not is to review your policy.
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The word "deductible" is used frequently in the auto insurance industry. A deductible is the dollar amount you must pay before your auto insurance policy pays for any damages your vehicle endured during an accident. If you are about to purchase a new auto insurance policy, you might wonder how much you should pay for your deductible.
Here are a few helpful tips for selecting the right car insurance deductible.
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A rideshare profession involves transporting customers to destinations within a service area. Many arranged transport services supply their drivers with increased automotive coverage during the times that they are actively driving to pick up an individual or transporting a client to a pre-scheduled destination.
Your Responsibilities As A Driver
If you are considering working for a rideshare company, the make and model of your vehicle and proof of personal insurance coverage must be furnished during the application process.
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