Maine Homeowners Insurance
Maine homeowners insurance is very affordable when you purchase it online. You can request quotes, compare rates, and even purchase Maine homeowners insurance without ever leaving the comfort of your living room. Whether you have a house in Portland, ME or a cottage in Bangor, ME if you would like to cover your residence in case of disaster, start shopping today, and have your Maine residence covered by tomorrow.
Maine homeowners insurance is necessary protection to have if the house is under mortgage. Many mortgage providers not only require homeowners to cover their residence, but also have specific limits that must be included. Homeowners insurance in ME can cover not only the house but also the owner's valuables in case of damage from natural disasters or theft. Coverage can also include outbuildings such as detached garages or sheds. In addition, liability is usually included to cover damages and medical needs in case someone not living with you is injured on the property.
Homeowners policies in Maine have limits to the amounts they will cover for the dwelling, outbuildings and personal belongings. The limits or perils of what is covered can be increased for added premiums. This is an added benefit many homeowners take advantage of to cover their collectibles or other items of high value. Most Maine homeowner policies will not cover specific natural disasters including earthquakes, flooding, or hurricanes. For natural disasters not covered, you may want to include a hazard policy, which is designed specifically for these perils.
Hazard coverage is a plan which is specific to perils such as hurricanes or flooding. Because of the occasional threats of hurricanes in Maine, it is a good idea to include this option within your policy to ensure your home will be protected. Hurricanes can damage a home even if they do not hit the home directly. The flooding and outer wind bands of a hurricane can be devastating as well. Hurricane coverage is just one of the options of hazard insurance. Talk to your provider to find out what other plans are available in your area.
Keeping Premiums Costs Low
Premiums for Maine policies are determined by the size and age of the home, the location of the residence, building materials, safety and security features, and anything else that could increase the perils such as a trampoline or swimming pool. You can lower premium rates by adding safety and security features to the home. An example of this would be fire and security alarms that are monitored by an outside company, sprinkler systems, and deadbolts on all exterior doors. Anything that increases the safety and security of your ME home, will also help you decrease the premiums.
You may also want to consider combining your Maine homeowners insurance with your other policies, such as auto and boat insurance. The multi-policy discount available for having one insurer provide all of your insurance needs can be very favorable. It will not only save you money on your homeowners policy, but on all of your combined insurance needs. Another way to save is to increase the deductible.
Finding Homeowners Insurance
The choice of which provider to use for your Maine homeowners insurance is really determine by price, coverage, and discounts. In order to determine what coverage you need, you should first understand what you have that requires coverage. Inventory everything you own. This would include all personal belongings including clothing, electronics, appliances, collectibles, and jewelry.
Next, determine the replacement cost of the home. Replacement cost and market value are not the same. The market value is the value of the home on the sales market while the replacement value is the material and labor costs to rebuild the house. You can get a good feel for the replacement cost of your home by examining the existing market prices of materials and construction costs. A construction estimator could also help you determine a good estimate.
Once you have determined your coverage you need you can search online for Maine homeowners insurance. It is important to get rates from several providers and compare them accordingly. Watch for items that are excluded and ask for available discounts on the premiums. Once you have purchased Maine homeowners insurance, you should review it once a year to ensure your coverage needs have not changed and the limits are in line with the replacement costs.
Maine homeowners insurance is a necessary step towards protecting your Maine home in the event of a disaster. Review the coverage options carefully and choose one that fits your needs. If you need to request additional coverage, ask your provider what the best endorsement policy is for your need. Find a Maine homeowners insurance provider today and start covering your home tomorrow.