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Home owner insurance is protection you buy from an insurer to protect your house in the unlikely event it is damaged or destroyed. It allows you to transfer the risk associated with owning a home to the insurance provider and give you peace of mind that your most valuable asset is, your home, is protected.

Choosing an Insurance Company

Before choosing for a specific home owner insurance plan or some company, it s wise for the buyer to do a little research whether on the internet or with the help of a specialist. A few cost saving hints include taking the time to conduct comparison shopping, having one insurance company that meets all your insurance needs and improving the security of your home. One of the most popular ways to find discount home owner insurance is to purchase multiple insurance policies from the same company. You may be able to purchase home owner insurance, as well as auto insurance and even life insurance from the same insurance company. If your current insurance company d (more...)

Actual Cash Value (ACV): It is the dollar amount that a buyer is willing to pay to a seller who is willing to accept without undue pressure. FMV: It is also an estimate or appraisal based on comparisons to other like structures.

Actuary: An insurance professional trained in assessing risk and pricing policies. The actuary creates the methodology that determines rates.

Additional Living Expense: Covers additional living expenses when incurred due to a loss.

Adjuster: An individual employed by the insurance company to evaluate loss and settle policyholder claims. Independent adjusters: Independent contractors who work for different insurance companies.

Appraisal: A survey to estimate a property s insurable value or the amount of a loss.

Agent: A licensed individual trained authorized to represent an insurance company to interested buyers and to be their representative.

Arbitration: The insurance company and the insured agree to a procedure to settle a dispute by a (more...)