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Home insurance is quite a serious cost when it comes
down to it. It tends to be in the hundreds in terms of amounts. But
these amounts vary, depending on the rebuilding costs of your home
and it's location, and the possessions that you keep. It also
depends on how well you search the market and work hard to find the
best available quote for you.
If a tree falls
on my house from my neighbor's yard, who pays for the damage?
Generally the insurance responsibility lies with whoever's property
is damaged. In other words, if a tree falls on your home, no matter
where the tree came from, your insurance company should pay for your
home repair.
An exception
would be if the damage occurred as a result of negligence; for
instance, if the tree was dead before it fell, and you had proof
that your neighbor knew the tree was dead. Under those
circumstances, the damage becomes your neighbor's liability.
Ways to save
If your home is equipped with an
alarm system, smoke detectors and deadbolt locks, you could save
money. Those items help make your home safer and more secure. If
you have an in-ground pool or a trampoline, you might pay higher
premiums. You can also expect to pay more if you are located in a
higher risk area, such as a coastline. Your insurance company will
also want to know if you plan to use the home for any business
purposes, of if you plan to rent all or part of the house, both of
which can increase liability.
Armed with
all this information, insurance companies can determine how much to
charge you for insurance, sometimes in a matter of minutes.
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