Home Insurance FAQ

Q: I had bought a house two years ago. How can I be able to lower my home insurance amount?

A: Home Insurance is given for safety of your house.Normally It doesn't include the land price or market price. Better will be to call your insurance agent or mortgage provider and ask him to get home insurance quotes. He will completely describe you everything for getting your insurance at lower rate.


Q: I had buildings and contents insurance would I need a separate home insurance for my home?

A: If you have buildings and contents insurance then home insurance should automatically covered with it. But remember to confirm your insurance provider whether your insurance comes under category of home owner insurance or not else it may be taken as dwelling fire home insurance policy.


Q: My home is located in earthquake prone area. I want to know whether my home owner insurance policy also covers the flood or earthquake policies or not?

A: Each home insurance policy depends upon the area you live. But I don't think that your home owner insurance policy also covers flood or other disasters. You have to take a separate policy for flood or earthquakes. Consult your insurance agent and get quotes for it.Read the fine print of your policy

Q: I want to turn my individual home to a rental one. Do I need to tell the home insurance company about it?

A: Yeah, its necessary to inform your home insurance company about turning your home into rental one otherwise the insurance company can claim you for that. You have to get landlord policy from them and a written rental agreement from the lender. This will not let your insurance cover goes down.


Q: I am renting my home for business purposes. I had home insurance for my residence should I have to apply for the business insurance for the same or not?

A: As you are renting your home for business purposes, then your home rental policy will not cover the business liabilities and property. It will take it different from your home owner insurance policy. You have to insure the commercial liability and business property separately. Consult your insurance agent for further details and for getting quotes.

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