How Is Home Insurance Value Determined?

When you purchase a new home you typically will purchase home insurance right along with it. While it may depend somewhat on the mortgage you receive and the property you buy, home owner’s insurance will typically come right along with it. But how is your home insurance value determined? This is one of the first questions our staff here at LG Insurance Group addresses. If you live in greater Marietta, GA, our staff here will address this and all other home insurance questions you might have. 

How Is Home Insurance Value Determined

The exact premium is going to vary a bit depending on what you’re looking to accomplish with your insurance and with your insurance provider. There is typically a set value amount paid per dollar your property is worth. However, there are other factors included when it comes to this. What you pay may not be what your friend pays on the other side of town. This is because the insurance provider will need to consider the cost of rebuilding the home (if you have an older home and materials are hard to come by). The age of the home will impact it if there is older wiring and plumbing. Fire protection in the area as well as the claims history will play a role as well. Finally, your personal claims history will also potentially impact your insurance coverage costs. 

All Your Home Insurance Questions Answered

If you are shopping around for new home owner’s insurance, are looking to buy a property, or you’re simply wondering what kind of insurance options are available to you, our staff here at LG Insurance Group is here to assist you with all of your needs. So, if you’re interested and live in greater Marietta, GA, our staff here is just a phone call away. 

5 Tips for Evaluating a New Home

Are you looking for your dream home in the Marietta, GA area? Use these tips from LG Insurance Group to ensure you make the right buying decision.

  • Take a look at the neighborhood. Are there good schools, restaurants, grocery stores, and other resources in the area? Even if the house itself is perfect, living in a neighborhood that doesn’t support your lifestyle is a recipe for long-term frustration.
  • Note the condition of the houses around your potential property. Are they well-kept? Are there yards full of debris? The condition of your neighbors’ homes impacts the value of your own. Choose an area that won’t make it difficult to sell in the future.
  • Have an expert check out the house before you buy. Hidden damage in the sewer systems, roof, or plumbing could end up costing more to repair than it’s worth. Unless you’re absolutely sure you know how to spot potential problems, bring along a trusted guide to evaluate the home’s structural integrity.
  • Think about your daily commute. Is the neighborhood you’re looking at worth the extra drive time? Even if the price is significantly cheaper than other areas of town, you could find yourself spending more on gas and vehicle maintenance, which can quickly cancel out any savings.
  • What are your future plans? If you’re thinking about expanding your family or taking up a new hobby that requires a lot of space, make sure your new home is in an area that won’t prohibit these activities. Talk to the representatives with your homeowner’s association before buying to ensure your future plans won’t be derailed by their regulations.

Finding the right home can be a chore. However, getting insurance for your new home is simple. Contact the experts at LG Insurance Group for more information on protecting your new home in the Marietta, GA area.

Can Upgrading Your Home Reduce Insurance Costs?

Home improvements that enhance the security and protection of your property could make you eligible for a discount on your home insurance coverage. Before upgrading your home, talk to an LG Insurance Group agent to see what type of improvements qualify for reduced insurance costs. If you’re looking for ways to lower your home insurance premium, consider the following upgrades to your home and surrounding property.

New Roof

If you own an older home in Marietta GA, your roof may have tiles that are cracked, worn or missing altogether. A severe rainstorm could cause further roof damage, resulting in water leaking into your home. By replacing your roof, you can protect the interior and structure of your home, making it less susceptible to water damage. A new roof could qualify you for a reduction in your insurance.

New Heating and Electrical Systems

Old wiring and heating systems increase your risk of having an accidental fire in your home. A fire can completely destroy a home and everything in it within a short amount of time. Installing new heating and electrical systems will reduce the risk of fire, making your home a safer environment in which to live. At the same time, these improvements could make you eligible for a lower rate on your home insurance. 

Security System

In many neighborhoods around the country, home theft and invasion are on the rise. A home security system with window and door sensors, security camera and alarm will help to protect your home and secure your personal property. Many insurers offer discounts to homeowners who improve the security of their property.

By making your home a safer, more secure place to live, you could pay less for your home insurance coverage. For a quality home insurance policy at reasonable costs, contact us at LG Insurance Group, Marietta, GA.

Tips for Avoiding Water Loss in your Home

Did you know that water damage is the second most frequently filed loss experienced by homeowners and renters each year? (according to the Insurance Information Institute)  The infographic below, provided by Safeco, can help you understand the risks, offer prevention tips and share the resources you may need if a water loss occurs. 

Is Liability Coverage Included In Marietta, GA Home Insurance?

Liability coverage is an important component of home insurance. When you look at policies for your home in Marietta, GA, your goal is to be covered in as many scenarios as possible. At LG Insurance Group, we work with you to get the desired level of coverage – and at an affordable price.

What is liability coverage?

Liability coverage protects against people getting injured inside your home or on your property. If someone hurts themselves walking towards your front door, they could sue – but your liability coverage would take care of the legal fees as well as the settlement. It also protects you in the event one of your family members damages someone else’s property. This includes a baseball through the window or even a toddler spilling juice on an Oriental rug.

How much coverage do you have?

The coverage you have in Marietta, GA depends on the value of your home, the insurance company you choose to work with, and what you decide is necessary. For example, if you do a lot of entertaining where many people will be inside your home, it’s a good idea to increase the level of coverage on your policy.

You will automatically have some liability coverage included in your home insurance policy, regardless of who you are insured with. Your goal is to look at the fine print to see the scenarios where you aren’t protected and then add onto your coverage so you are protected against them. This way, if something does happen, you can file a claim and enjoy peace of mind knowing that the insurance company will cover the majority of the costs.

Contact one of our independent insurance agents at LG Insurance Group today to learn more about how to get sufficient liability coverage in your home insurance policy.

 

Spring Cleaning Tips

Now that the winter weather is starting to go away, spring is starting to come out to play. One of the most common things for homeowners to do during this time in Marietta, GA is doing some spring cleaning. Although it doesn’t get too terribly cold here, the spring gives a breath of fresh air that is hard to ignore. If you are wanting to do some spring cleaning this year but are not entirely sure where to start or what to do, be sure to use these tips from LG Insurance Group.

  • Start with dusting everything off. You may be surprised by how much dust can gather after just a few months. make sure you dust everything. Once you are done, you will be able to breathe easier and you can even start opening windows to let the spring air in. 
  • Choose one or two projects. All too often, people think of spring cleaning as a way to get everything on their list done. Usually, this is too much to do for one person, or even one season, so choose one or two projects to focus on. If you find that you have completed both of the projects you set out to do, then go ahead and try to tackle another. Just make sure you do not overwhelm yourself and do not be afraid to ask your friends and family for help on your list. 

Once you have tackled what you want inside your home, you need to make sure that everything is well protected. The best way you can do this is with a great home insurance policy. If you do not already have one, be sure to reach out to LG Insurance Group, serving Marietta, GA, to get a free quote that meets your needs and budget.

Adjusting Your Home Insurance

There are plenty of instances in which you might need to alter your home insurance coverage and knowing what they are and what the process entails can make a huge difference in how quickly you can get your coverage changed. For those that live in the Marietta, GA area, the agents with LG Insurance Group can help you through the adjustment process.

There are a wide range of instances in which your home might need to have more or less coverage. The first step of the process is to contact your agent. After contacting your agent you will explain why your home needs either more or less coverage. You will then set up a time for an adjuster to come and work on altering your insurance coverage.

After the adjuster comes you can decide what new coverage you need and get the process rolling. So what might make your needs change? Major renovation is the biggest issue when it comes to needing to change your coverage. Those major renovations will make your home worth more and therefore make it more expensive to build back should something happen to your home. Home depreciation might make for a change in coverage as well.

Still another thing that might necessitate more coverage would be getting something expensive like a large television or jewelry that would need to be covered on your policy. The adjuster is there to document the home and appraise it to determine how much coverage is necessary to rebuild if the home is destroyed. These are all great reasons that your home insurance coverage might need to change.

For those in the Marietta, GA area, the agents with LG Insurance Group can help you determine what changes need to be made to your current policy in order to be fully insured.  

Why You Need an Emergency Kit for Your Home

You never know when something will happen that will leave you stranded in your home with no help available. In Marietta, GA, you need to be prepared for this kind of occurrence by taking steps within your own. LG Insurance Group recommends having a fully stocked emergency kit in your home so you always have enough supplies to last a few days. When making your emergency kit, be sure to include these items:

  • Food. You want to make sure you not only have non-perishable food but also food that you can eat without cooking. You should have enough for three days of food for each person in the home. 
  • Water. Another necessity to have is water. As a rule of thumb, you should have enough water for each person to drink a gallon per day in your home. 
  • Candles, flashlights, and extra batteries. If you lose power, you need to find a way to see around your home in the dark. Make sure you have candles and a way to light them as well as flashlights and extra batteries.
  • Portable cell phone charger. Another thing to worry about is your cell phone. If you lose power, you need to find a way to charge it so you can reach other people once the emergency has passed or if you need immediate help.
  • First aid kit. You can get a stocked one at your local store and you want to make sure you have one of these handy in case of an emergency that involves and injury.

Another great way to protect yourself is to have a great home insurance policy. For more information about home insurance policies, to see if your current policy has any gaps, or to get a free quote for one, be sure to contact LG Insurance Group, serving Marietta, GA. 

Identity Fraud Coverage

Many of us have been victims of identity fraud, or known someone who has.  It is a grueling and time consuming process to try to restore your identity and clean up the mess left behind by the criminal(s).  Identity Recovery or Identity Fraud Expense Coverage is offered by many homeowner’s insurance companies to guide you through the process and reimburse you for many of the expenses you incur along the way.  The infographic below gives additional details regarding Safeco’s optional coverage:

How Equipment Breakdown Coverage Can Help You

If you are a homeowner and either currently have a home warranty plan or would like to have one if it were less expensive, then you need to read this!  More and more insurance companies are offering an optional endorsement that provides much of the same coverage as popular home warranty policies.  These plans are often provided to a home buyer by the seller when purchasing an existing home.  Some homeowner’s continue to renew these plans while some choose to allow them to expire due to the annual cost.  Many insurers now offer this protection at a lower cost, when endorsed onto a homeowner’s insurance policy.  The following infographic gives an overview of what is covered by Safeco’s Equipment Breakdown endorsement, including examples of what is and what is not covered.

Contact LG Insurance Group if you would like to learn about this valuable coverage!