Home Insurance Blog » Oregon Home Insurance

Home Insurances :Flood Insurance – Do You Really Need It?

admin — Wed, 08 Dec 2010 08:51:38 +0000

Let’s learn from experience
Don’t let this happen to you: As the waters rose last September, so did the number of homeowners with water damage and no flood insurance protection. The rain was relentless and overwhelming as it forced evacuations, closed schools and wreaked havoc

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Let’s learn from experience

Don’t let this happen to you: As the waters rose last September, so did the number of homeowners with water damage and no flood insurance protection. The rain was relentless and overwhelming as it forced evacuations, closed schools and wreaked havoc among thousands of homeowners. When it was over, many counties were declared major disaster areas and many people were left wondering if they would ever recover from the flood losses. Unfortunately, many may not fully recover. Why? Because basic home policies generally don’t cover flooding.

Most mortgage lenders require you to have flood insurance if you live in a flood plain, but typically, one-quarter or more of flood-damage claims are for homes where flood insurance is optional. Bottom line: If you own property you should consider Oregon flood insurance. Here are a few reasons why:

If just three inches of water gets into your home, replacing drywall, baseboards, carpet, furniture and making necessary repairs can cost an estimated ,800, according to the National Flood Insurance Program.

Eighteen inches of water will require repairs to the electrical, heating and cooling systems, as well as replacement of doors, appliances and cabinetry. Total costs could top ,000. The average flood claim is more than ,000.

Oregon Flood insurance generally covers homeowners, business owners and renters for these types of losses typically not covered by homeowners policies. More information on the National Flood Insurance Program, including an interactive guide to assess your flood risk, is available online. Learn the facts, they can help you make sure your home and property are covered because if it rains it could flood.

Oregon Flood Insurance
The Following is a list of commonly asked questions about Flood Insurance to help you with your decision:

Doesn’t my Oregon homeowners insurance policy cover flooding?
No. Flood damage is not typically covered by a homeowners insurance policy. You need to have Oregon flood insurance.

If my home is flooded, won’t federal disaster assistance pay for my damages?
Not necessarily. Federal disaster assistance typically comes in the form of a low interest loan to help cover flood damage, not compensation for your losses. Even then, those loans are only available if the president formally declares a disaster and must be repaid along with any existing mortgage.

Am I eligible for Oregon flood insurance?
You must live in a community that participates in the National Flood Insurance Program (NFIP) to qualify for National Flood Insurance. Find out if your community participates in the NFIP and the kinds of NFIP resources available in your community.

Can I get flood insurance if I’m renting a property?
If you live in a community that participates in the NFIP, you can get flood insurance to cover the contents of your home or business.

I live in a low-risk flood zone. Do I really need Oregon flood insurance?
Most likely, yes. It’s a good idea to buy flood insurance even if you live in a moderate- or low-risk area. About 25 percent of all flood insurance claims come from areas with moderate-to-low flood risk. You may qualify for the Preferred Risk Policy (a lower-cost flood insurance policy) that provides contents coverage beginning at per year and building plus contents coverage beginning at 9 a year.

Why do I need Oregon flood insurance, even though my community has never been flooded?
Flooding occurs in moderate-to-low risk areas as well as in high-risk areas. Poor drainage systems, rapid accumulation of rainfall, snowmelt, and broken water mains can all result in flood. Properties on a hillside can be damaged by mudflow, a covered peril under the Standard Flood Insurance Policy. Structures located in high-risk flood areas have a significant chance (26 percent) of suffering flood damage during the term of a 30-year mortgage. In a high-risk area, your home is more than twice as likely to be damaged by a flood than by fire. For these reasons, flood insurance is required by law for buildings in high-risk flood areas as a condition of receiving a mortgage from a federally regulated or insured lender.

Why does my mortgage lender require me to buy flood insurance?
Under federal law, the purchase of Oregon flood insurance is mandatory for all federal or federally related financial assistance for the acquisition and/or construction of buildings in high-risk flood areas (Special Flood Hazard Areas or SFHAs). The amount of flood insurance coverage required by the Flood Disaster Protection Act of 1973, as amended by the National Flood Insurance Reform Act of 1994, is the lesser of the following:

The maximum amount of NFIP coverage available for the particular property type,
The outstanding principal balance of the loan, or
The insurable value of the structure.
If the property is not in a high-risk area, but instead in a moderate-to-low risk area, federal law does not require flood insurance; however, a lender can still require it. It is also recommended since historically about one-in-four flood claims come from these moderate-to-low risk areas. Note that if during the life of the loan the maps are revised and the property is now in the high-risk area, your lender will notify you that you must purchase flood insurance.

Is there a low-cost policy for homes in moderate-to-low risk areas?
Yes. The Preferred Risk Flood Insurance Policy is available in moderate-to-low risk areas for as little as 9 per year.

I’m not in a high-risk area, but I’d like flood coverage. Is this possible?
Yes! You are eligible to purchase an Oregon flood insurance policy with the same coverage you would receive if you lived in a high-risk area. That is, of course, as long as your community participates in the NFIP. And you may qualify for the Preferred Risk Policy (a low-cost flood insurance policy).

I live in a high-risk risk area. After my home was damaged in a flood, I received federal disaster assistance. Do I need to purchase flood insurance now?
Yes. If you live in an SFHA and have received disaster assistance in the form of a federal grant or loan, you must cover the building for flood insurance for as long as you own it. Should you sell the building, you are required to inform the new owner of the necessity to purchase and maintain flood insurance. Failure to carry flood insurance could result in the denial of future federal disaster assistance.

Who do I contact if I want to purchase an Oregon flood insurance policy?
The National Flood Insurance Program has an arrangement with private insurance companies to sell and service Oregon flood insurance policies. A list of private insurance companies that sell and service NFIP flood insurance policies is available to you.

You may complete the form above and receive flood insurance quotes from top Oregon flood insurance companies.

What if I want to purchase more insurance than the NFIP offers?
Many private insurance companies offer Excess Flood Protection, which provides limits over and above those of the NFIP.

What is covered in my basement?
Flood insurance covers your home’s foundation elements and equipment that’s necessary to support the structure (for example: furnace, water heaters, circuit breakers, etc.).

It’s important to note that some items in your basement are covered under building coverage (like a furnace, hot water heater and circuit breaker) and others are covered under contents coverage that must be purchased in addition to building coverage (for example, your washer and dryer, or your freezer and the food in it).

The NFIP encourages people to purchase both building and contents coverage. Oregon Flood insurance does not cover basement improvements, such as finished walls, floors, ceilings or personal belongings that may be kept in a basement. For a complete list of what’s covered, view the Standard Flood Insurance Policy (SFIP) Forms.

Complete the form above and get flood insurance quotes from top Oregon flood insurance companies.

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Cheap Home Insurance :Earthquake Insurance

admin — Mon, 30 Aug 2010 07:58:46 +0000

Many wonder if they should choose to add earthquake insurance to there home insurance policies. Most choose not to, but after reading this article you may feel differently about adding earthquake insurance to your home insurance policy.
Only about one in five Oregon homeowners have

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Many wonder if they should choose to add earthquake insurance to there home insurance policies. Most choose not to, but after reading this article you may feel differently about adding earthquake insurance to your home insurance policy.

Only about one in five Oregon homeowners have earthquake insurance, state officials say. Among Farmers Insurance policyholders, it’s one in eight, says Jerry Davies, a company spokesman. It’s a low pickup rate for a state that’s among the three likeliest to suffer a severe quake.

More than three centuries ago, the last great Cascadia Subduction Zone quake struck offshore. Scientists think it was a magnitude 9.0.

They’ve documented 40 similarly huge earthquakes over 10,000 years along the fault, says Chris Goldfinger, head of the Active Tectonics and Seafloor Mapping Laboratory at Oregon State University. On only seven occasions did the time between earthquakes span more than 300 years.

Research by Goldfinger for the U.S. Geological Survey puts the odds of a powerful earthquake off the southern Oregon coast in the next 50 years at one in three, Goldfinger says. That’s a lot higher odds than the Oregon lottery. Earthquake insurance is looking better!

Earthquake Insurance Portland Oregon

When the big earthquake hits, it could be stronger than those that have devastated Haiti or Chile. Geologists say the ground here could shake for four minutes. Soon after, a tsunami will wreck the low-lying coastline. Landslides, fires and hazardous spills will follow, possibly along a “hot spot” like the oil tank farms along the Willamette River in Portland. We’ll feel aftershocks for months, too — some up to magnitude 7.

And it doesn’t have to be The Big One to hobble your home. Strong earthquakes centered in Washington’s Puget Sound area have caused damage in Portland.

Linda Mark, 36, bought her first house in February. But she started shopping for earthquake insurance in November — pre-Haiti and Chile. ”I knew the Portland housing earthquake risk,” the Southeast Portland resident says. ”I don’t want to be stuck with a mortgage and a house I couldn’t live in.”

Oregon earthquake insurance is not like health insurance or auto insurance. It’s catastrophic insurance. It’s what insurance was created for in the first place: Protecting yourself against a devastating financial loss that will happen at some point in the future, even if it’s not in your lifetime.

Is it obtainable? Is it too costly? That depends on your home’s insured value, location, age and construction type, as well as your carrier and your deductible. A survey by the Oregon Insurance Division of the 20 insurers that generate 80 percent of homeowner premiums in the state found:

Oregon earthquake insurance isn’t that expensive. Coverage for a 0,000 wood-framed home with 0,000 for personal property protection can cost 0 to 0 a year. That’s an extra on your monthly mortgage payment, or about 10 fewer lattes. Coverage for Mark’s 1,800-square-foot, 1925 home will cost an extra a month, said her broker, Mark Strauss of Leonard Adams Co. in Portland.

Older homes and those made of brick or masonry will cost you more. Some insurers won’t touch homes built before 1940. But retrofitting them can drive premiums down. Mark figures she’ll spend about ,000 bolting her sill plate to her foundation and save a month in premiums. That step pays for itself in 14 years, but it also might save your home.

Jay Kushner, an engineer and owner of Seismic Technologies in Portland, retrofits homes from about to .50 a square foot of basement or crawl space. You can do it yourself for less, but Kushner says he makes his own plates, which are stronger and better fits than those found at big-box stores. Post-Haiti demand for his services has left him booked three to four weeks out.

Oregon earthquake insurance won’t cover incidental damage from a small quake. Policies have high deductibles, ranging from 10 to 25 percent of the insured amount of your home. Mark’s deductible will run from ,500 to ,500 just to replace the structure. Another deductible applies to replacing household contents.

Earthquake insurance policies won’t cover damage from landslides or tsunamis, unless earthquakes caused them, state officials say. Coastal residents can get tsunami protection from flood insurance via the National Flood Insurance Program. They do, however, cover shaking caused by volcanic activity and damage wrought by aftershocks within a 72-hour period.

Renters can get earthquake insurance for their personal belongings. But the endorsement must be specifically requested, and it’ll probably tag 10 to 15 percent to the cost of your policy.

Even if you don’t get earthquake insurance, take other precautions. Strap your water heater to the wall studs, especially a natural-gas heater. Have a stash of emergency water, food and supplies. Have a family convergence or communications plan. Secure columns to the bottom of the house and the floor. That won’t get you earthquake insurance, but it might save your house.

Just ask Ms. Mark. Earthquake insurance is worth the money and the piece of mind!

To get a quote on Oregon earthquake insurance, complete the form above and receive home insurance quotes (with earthquake insurance included) from the top home insurance companies in Oregon!

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Home Insurance Online :Fire Insurance For Landlords

admin — Mon, 15 Mar 2010 03:43:31 +0000

Many Oregon homeowners are thinking about fire insurance in a new light these days. Unable to sell, homeowners are increasingly becoming landlords.
Are you having trouble selling your home in today’s real estate market and thinking about becoming a landlord? If so, you’re

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Many Oregon homeowners are thinking about fire insurance in a new light these days. Unable to sell, homeowners are increasingly becoming landlords.

Are you having trouble selling your home in today’s real estate market and thinking about becoming a landlord? If so, you’re not alone. A growing number of Oregon homeowners who need to relocate for a job or other reason are renting their homes instead of selling them in the current market.

Keep in mind that when you become a landlord, your property becomes a place of business and its fire insurance requirements change. For example, you would need a fire insurance policy for landlords to cover the property and protect you if anyone is hurt on or in the property.

Fire Insurance
There are many choices with landlord policies these days. Typically they would cover the building in case it’s damaged or destroyed by:

• Fire

• Explosion

• Lightning

• Windstorm*

• Hail damage*

There are important optional coverages you may want to consider such as:

• Replacement cost coverage on the home

• Liability coverage

• Coverage for theft

• Coverage for vandalism

• Loss of rent

• Landlord personal liability coverage

Oregon Fire Insurance
Deciding of the right kind of fire insurance may depend on your individual situation, you may consider some options especially important. For example, do you rely on the rental income to pay your living expenses? A landlord fire insurance policy may include coverage to help compensate for lost rent if the building is uninhabitable because of covered damage such as fire or explosion.

Almost all fire insurance companies can help you with these types of policies. Fill out the form above and get fire insurance quotes from the top fire insurance companies in Oregon. Choose which policy is right for you. You could save hundreds of dollars on your fire insurance.

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Cheap Home Insurance :Oregon House Insurance – Protects Your Castle

admin — Sat, 02 Jan 2010 03:48:18 +0000

You hear it on the news, read it in the paper: Oregon House values are dropping. According to Zillow, home values nationally are now down 21% from their peak in the second quarter of 2006.
What’s a homeowner to do?
Though it may seem to follow that lower Oregon house values

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You hear it on the news, read it in the paper: Oregon House values are dropping. According to Zillow, home values nationally are now down 21% from their peak in the second quarter of 2006.

What’s a homeowner to do?

Though it may seem to follow that lower Oregon house values might go hand in hand with less Oregon house insurance coverage, that’s not true. Why? Well, guess what’s not going down: the cost of rebuilding and repairing Oregon houses.

Many of us are looking to reduce expenses, but before you cut back on your Oregon house insurance coverage, consider why you have house insurance.

Oregon House Insurance
Lets say your house is damaged or destroyed by certain unexpected, accidental events, such as a fire, a lightning strike, or a windstorm, or the like, more than likely you will want to repair or rebuild your house. Most people can’t afford to rebuild their house on their own without financial help. Your Oregon house insurance policy is there to help by paying you for covered damage so you have the money for repairs.

Whether your policy provides coverage on a replacement cost or actual cash value basis is of critical importance. Although there is some variation depending on individual state law and specific policy terms, in general:

* Replacement cost is the amount it would take to repair or replace your home with equivalent construction and with materials of like kind and quality — without deducting for depreciation (the difference between what your property was worth “new” versus “used”).

* Actual cash value is the amount it would take to repair or replace your home with materials of like kind and quality — less depreciation. For example, in determining the actual cash value of a roof replacement the insurance company would deduct depreciation for the age of a 17-year-old roof with a 20-year life expectancy.

Oregon House Insurance – Market value vs. reconstruction cost
Reconstruction cost is not the same as the market value, assessed value, what you paid for your home or even the amount your home would bring if you sold it today. It’s what it would cost to rebuild your home after a loss. While home values have decreased, reconstruction costs have not. It is important that you consider what it would cost to rebuild your home, considering the specific characteristics of your home.

So, if you’re considering reducing your Oregon house insurance coverage, check with us first. As your partner in this hard to understand industry, we’ll be glad to help you along the way. Just complete the form above and get the best Oregon house insurance quotes from the top insurance companies in the great state of Oregon. That may help you decide whether your policy provides the coverages you want, and give you the opportunity to make adjustments, or just find the best priced insurance quotes.

There are other ways you may be able to save money. You could increase your deductible or you may qualify for multiple-line discounts. Complete the form above to find out all of your best money saving options, and make sure you have purchased coverage amounts sufficient to rebuild your house and replace other property.

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Home Insurance:Oregon Property Insurance – What You Should Know

admin — Sat, 19 Dec 2009 11:45:18 +0000

Oregon property insurance is a complex product and there’s no harm in doing your homework so you fully understand it. Most people don’t read a policy until they’ve had a claim denied, and that’s too late.
Finding an insurer
Shop a few different property insurance

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Oregon property insurance is a complex product and there’s no harm in doing your homework so you fully understand it. Most people don’t read a policy until they’ve had a claim denied, and that’s too late.

Finding an insurer

Shop a few different property insurance companies in your area. Many insurance companies will specialize in a certain area or zip code, while other insurance companies may not be competitive there. Be sure to check out the companies. And to compare insurance policies and quotes.

If your state keeps information, complaints or complaint ratios, weigh that too. You can find information about how to contact your state insurance office at www.naic.org. Make sure the company is on strong financial ground so it will be there if you have to file a claim. Check its ranking with A.M. Best Company.

Oregon Property Insurance

Your dwelling

You want to be sure that if you had a total loss of your home tomorrow, your insurance policy would pay enough to build the exact same house in the same spot. Don’t just focus on what you paid for the home. You want enough insurance to replace it, right down to that funky wallpaper. It’s common sense, but it’s not what people think about. You also want to consider how home values and construction costs in your area would affect you if you needed to rebuild. If you’re living in a community or area where values have been skyrocketing, you want to be sure you have a replacement policy that will provide sufficient resources to rebuild. If you’ve made any renovations, talk to your agent. Find out what he or she needs to document the changes and the value you’ve added to your home.

Replacement value

After a loss, if you want the property insurance company to reimburse you for the cost of a new version of your possessions, then you want replacement value insurance for your belongings. In other words, the company pays you to replace what was lost. But you might have to request it because not all policies have replacement value as the default coverage. Beware of policies that promise “fair market” or “cash value.” That means the company will give you the current value of the item, which will include wear and tear and depreciation. It also can make more work for you during a claim, since you have to substantiate not only the fact that you owned the article, but also what it was worth when you lost it.

It also pays to ask how your company handles claims with replacement value insurance. Some firms want you to purchase the new item and show a receipt before reimbursement. If that’s the case, how much time do you have? (If you’re living in a motel room while you rebuild the house, you may not want to replace the giant entertainment system right away.) And if you decide not to replace the item at all (you never really liked Aunt Minnie’s green frog vase), how will the Oregon property insurance company reimburse you?

Deductibles

Just as with auto insurance, the higher your deductible, the lower your premium. If disaster struck, what’s the most you could afford to pay all at once? That’s your deductible. If you want to increase it, start socking money into a nest egg account. The next time you renew your insurance, increase your deductible by the amount you’ve saved. (Extra points: Take the money you save in premiums and put it into savings.)

Oregon Property Insurance Quotes
Liability insurance

If a contractor slips and breaks his leg while repairing your roof, liability will cover you. Make sure you have enough to protect yourself financially. Bear in mind that if somebody’s at your house at a party or barbecue, and gets hurt at your home, that you have proper liability coverage. And if they are drinking, leave and have an accident, you could be exposed to some liability.

If you have some high-dollar assets, consider an umbrella policy. Properly tailored, it should kick in where you homeowner’s liability leaves off. And you likely can buy up to a million in coverage for a few hundred dollars, according to estimates from the Insurance Information Institute.

Living expenses

Sometimes called “loss-of-use coverage,” this is what the insurance policy would pay toward your living expenses after a loss while your home is being repaired or rebuilt. Find out under what circumstances it would kick in, what it would pay and for how long.

Apartments and condos

If you live in an apartment, your landlord will have Oregon property insurance on the building, but you need to carry insurance for your possessions (often called “contents insurance” or “renters insurance”). In addition, some landlords will require that you also carry liability insurance in case anyone is injured while doing work inside your home. If you own a condominium, you want to find out what areas are covered by the association and what you’ll need to insure. As well as your own belongings, it’s possible that you need to insure a portion of the structure. Check with your association attorney or management company before you buy and find out exactly what type of policy you’ll need.

Your CLUE report

Many insurance companies participate in a claims database exchange in which claims information is stored by name and address. Oregon property insurance companies can then pull a report on an individual or location, just as a potential lender can pull a credit report. The most widely known claims database reporting system is called the Comprehensive Loss Underwriting Exchange (or CLUE). If there have been a multitude of claims, or someone in the home has reported a particular problem, such as water or mold that raises red flags, you could have trouble getting insurance. Before you buy, ask the owner for a recent copy of the CLUE report so you know what you’re getting. And keep your claims to a minimum.

You should not be afraid to use your insurance, but insurance is for big disasters and not for small things you can afford to pay for out of your own pocket.”

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Home Insurances:Home Insurance In Oregon And Ways To Save!

admin — Sat, 19 Dec 2009 11:45:18 +0000

Home insurance in Oregon can vary by hundreds of dollars, depending on the size of your house, amount of coverage, your deductible, and the insurance company you choose. Many homeowners mistakenly assume that all policies and providers are the same. This type of thinking could

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Home insurance in Oregon can vary by hundreds of dollars, depending on the size of your house, amount of coverage, your deductible, and the insurance company you choose. Many homeowners mistakenly assume that all policies and providers are the same. This type of thinking could cost you thousands of dollars in the long run. Here are some ways you can save money:

Home Insurance In Oregon
Shop Around!

Prices vary from company to company, so it pays to shop around. Get at least three price quotes. You can call companies directly, or access information via the Internet. Your state insurance department may also provide comparisons of prices charged by major insurers.

If shopping for home insurance in Oregon, get quotes from different types of insurance companies. There are three types of insurance companies.

Price alone should not be the determining factor.   Customer service and fair, efficient payment of claims are also important. You should speak to friends and co-workers about their experiences with various providers. Check with your state insurance department to research consumer complaint ratios.

Keep in mind: if you have a serious claim, these are the people you will be relying on to help you through it.

Home Insurance In Oregon – Way’s To Save!
Raise your deductible

A deductible is the amount of money that you have to pay toward a loss before your insurance company starts to pay a claim. The higher your deductible, the more money you save on your premium. Consider a deductible of at least ,000.   If you can afford to raise it to ,500, you may save as much as 25%.

Buy your home and auto policies from the same insurer

Ask your insurance provider if they offer discounts for multiple policies. If your provider offers auto and homeowners insurance, find out how much you’ll save and then compare that to the individual costs of your existing policies.

Make your home more disaster-resistant

Ask your insurance agent or company representative what you can do to make your home more resistant to windstorms and other natural disasters. You may be able to save on your premiums by adding storm shutters and shatter-proof glass, reinforcing your roof, or buying stronger roofing materials. Older homes can be retrofitted to make them better able to withstand earthquakes. In addition, consider modernizing your heating, plumbing, and electrical systems to reduce the risk of fire and water damage.

Don’t confuse what you paid for your house with rebuilding costs

The land under your house isn’t at risk from theft, windstorm, fire, and the other perils covered in your homeowners’ policy. So you don’t need to include its value in deciding how much homeowners insurance to buy. If you do, you’ll pay a higher premium than you should.   The higher coverage will not always result in a higher disbursement from the insurer.

Ask about discounts for home security devices

Home insurance in Oregon typically will include discounts for certain safety devices. Most insurance providers offer at least a 5% discount for items such as smoke detectors, burglar alarms, and dead bolt locks. You can save up to 20% with the installation of an a security system or sprinklers. The key is to read the policy language and ask lots of questions before, during, and after you choose a policy and a provider.

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Cheap Home Insurance:Oregon Home Owner Insurance Protects You

admin — Sat, 19 Dec 2009 11:45:18 +0000

Protect your belongings
Basic Oregon home owner insurance covers the contents of a house–furniture, clothing, electronic equipment, musical instruments, and so on–for a total of up to 50 percent of the value of the policy. The home’s contents are typically insured

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Protect your belongings

Basic Oregon home owner insurance covers the contents of a house–furniture, clothing, electronic equipment, musical instruments, and so on–for a total of up to 50 percent of the value of the policy. The home’s contents are typically insured at “cost.” That means if your possessions are damaged, you’ll be reimbursed for their depreciated value, not for what it would take to replace them. Insurance experts recommend that you buy “replacement” coverage for about 10 percent more, which means your possessions will be replaced with brand new ones. Also consider raising personal-effects coverage to 75 percent of the home’s value, although this might not be necessary if a recent reevaluation raised the amount of your property coverage. (In that case, the insurance on your belongings will have gone up as well.)

Valuables like jewelry, artwork, antiques, and coin or stamp collections are not fully protected by regular homeowners policies. Jewelry, for instance, is limited to about ,500 to ,500 in coverage. So consider having your rare and expensive property appraised, then buy a separate floater policy that guarantees full dollar value. Expect to pay about per ,000 in coverage.

Oregon Home Owner Insurance
Don’t make small claims

Not surprisingly, Oregon home owner insurance companies are cautious about claims. With increasing frequency, they are adding surcharges on premiums at renewal–or some may even drop your policy altogether–for a single claim in the past year. They’re taking a much closer look at claims activity and have a shorter fuse about it, says Terry McConnell, vice president and manager of personal lines underwriting at Erie Insurance in Erie, Pa.

So it often makes sense not to submit claims that exceed your deductible by just a few hundred dollars. Paying for the loss yourself might cost you less than the premium increase you’ll probably face later. Most claims–and sometimes even conversations with insurers about damage, particularly water-related, that don’t result in actual claims–are reported to the CLUE (Comprehensive Loss Underwriting Exchange) database maintained by ChoicePoint, a company that provides services to insurers. Consumers are entitled to one free copy of their CLUE report annually (for more information, go to www.choicetrust.com and click on CLUE Reports). Homeowners should read these files carefully, and immediately dispute errors or submit a written statement that fully explains any large losses.

ChoicePoint also takes data from a consumer’s credit reports to produce a Home Insurance Score, which is used by insurers to determine whether the customer is a good risk. Because most insurers rely on the same scores when making underwriting decisions, it’s more than likely you will pay quite a bit more to purchase insurance from a new carrier if your company decides not to renew your policy.

Oregon Home Owner Insurance For Less
Here are some other steps you can take to protect your home while keeping your coverage costs in check.

Raise your deductible. Insurance policies typically carry a 00 deductible. But if you’re willing to bear more of the risk, you can save upward of 15 percent a year in premiums with a 00 deductible and 25 to 30 percent with a ,000 one. “Most homeowners are not aware of the significant savings awaiting them in their policy by reevaluating the deductible,” McConnell says.

Maintain and upgrade your home. At least once a year, inspect your home for developing problems, particularly the roof, plumbing, exterior paint, and washing machine and dishwasher hoses, to protect against water-related disasters-the type of damage that Oregon home owner insurance companies like least. Wiring and heating systems should also be checked. In addition, you might be able to cut your premiums by 10 percent or more by installing upgrades such as fire detectors, security alarms, and deadbolt locks.

Buy a flood policy if you need one. Flood insurance is available through the government’s National Flood Insurance Program (www.floodsmart.gov) and can be bought from insurance agents. Maximum coverage limits are 0,000 for property and 0,000 for personal belongings. Premiums run from about 0 a year in a moderate- to low-risk area to more than ,000 in high-risk coastal zones.

Shop around. Oregon home owner insurance companies are looking for new business in low-risk areas. If you live in one, you might be able to find a better deal on your rate and coverage, and don’t forget to complete the form above to get quotes from the top Oregon home owner insurance companies!

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Home Insurances:Oregon Home Owners Insurance – Much More Than You Think!

admin — Sat, 19 Dec 2009 11:45:18 +0000

Most people think of Oregon home owners insurance as providing coverage for the risk of fire. These policies do indeed cover the risk of loss by fire, but most cover much more. One may be surprised by what coverage you have on your home.
Oregon Home Owners Insurance
Oregon home

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Most people think of Oregon home owners insurance as providing coverage for the risk of fire. These policies do indeed cover the risk of loss by fire, but most cover much more. One may be surprised by what coverage you have on your home.

Oregon Home Owners Insurance
Oregon home owners insurance is not required by law, but mortgage lenders require you to have it and to name the lender as loss payee at least to the extent of the loan. The “mortgage clause” is usually printed on the back of the Declarations Page.

The Declarations Page

Every policy has a Declarations Page that, literally, declares what the policy covers, how much it will pay for a loss, what the deductible (if any) is, and what the premium is for each portion of the coverage. To understand what really is covered you must look beyond the Declarations Page and read the body of the policy. Many insurers have worked very hard to make Oregon home owners insurance policies more easily understood–by using plain language and by laying out the various descriptions of coverage on color-coded pages. It is worth your time to read your policy.

The Coverage

Oregon home owners insurance policies provide the following types of coverage.

* Loss to buildings (for example, house and garage),

* Loss of personal property (contents of the house and garage, but not vehicles),

* Additional living expenses (to cover the cost of living elsewhere while your house is repaired or rebuilt), and

* Scheduled personal property such as jewelery, stamps and coins. This type of insurance is called “first party insurance” because it is insurance that covers you, the policyholder. This covers you for, among other things, damage to your house caused by fire and lightning, impact by aircraft or land vehicle, riots, windstorms, hail, water, burglary and theft, vandalism and the weight of ice and snow! Scheduled property is described by the homeowner in a schedule attached to the policy. If you don’t “schedule” such property it may be subject to quite low coverage amounts.

The coverage for loss of personal property may include property of a student who is an insured “principally dependent” on the policyholder while the student is residing away from the home in connection with full-time studies. It may also include your personal property while temporarily away from the insured house or uninsured personal property of others while it is in the your possession. So, if you borrow your friend’s plasma TV for the weekend and it falls off its stand into your hot tub, you may have some coverage. In this situation, if your friend’s insurance policy covered the TV, his insurer would pay to replace it, but then claim against you for that cost. The liability portion of your home insurance policy would then come into play because the claim then becomes a third party claim.

Another main coverage area is liability insurance. This type of insurance is called “third party insurance” because it insures you against claims made by others. This covers an insured for claims made for bodily injury (to others) or damage to property of others caused by an insured. So, if a delivery person trips on your garden hose and is injured, you may have some coverage. Or, if you are at the beach and accidentally trip a passerby who falls onto your cooler and breaks her arm, resulting in pain, suffering, and time off work, you may have some coverage. Who is an insured? Generally, policies cover the person in whose name the insurance policy is issued and, if residing in his or her household, his wife or her husband, a same-sex partner, the relatives of either and any person under 21 in the care of the insured.

There are some interesting additional coverages commonly available. They include Fire Legal Liability that covers the insured for loss caused by fire (and some other events) to premises or contents in those premises “used by or rented to, or in the care, custody or control of the insured.” Premises are defined to include the house insured in the policy (including the grounds, driveways, garages and other buildings), cemetery plots or burial vaults, and premises in which an insured is temporarily residing, if not owned by an insured. So, if you accidentally burn down the lake cottage your friend allowed you to use for the weekend, you may have some coverage.

Additional coverage can include “Voluntary Medical Payments” that will pay for medical, dental, hospital, nursing, ambulance and funeral expenses resulting from accidental bodily injury caused to a person as a result of maintenance or use of the premises or the personal acts of an insured. So, if the backyard Frisbee game extracts your friend’s front teeth, you may have some coverage for the dental bill. Bodily Injury is usually extended to include “personal injury” arising out of, among other things, unintended wrongful arrest, detention, imprisonment or prosecution, defamation, wrongful eviction or invasion of the right of private occupancy.

A third type of additional coverage is “Voluntary Payment for Damage to Property”. This pays for loss arising from direct physical damage to or destruction of property caused by an insured and resulting from maintenance or use of the premises or by the personal acts of an insured. So, if after dinner at a friend’s you stay behind to help with the clean up and drop his/ her set of 10 Limoges dinner plates on the tile floor, you may have coverage for their replacement.

One of the newest types of coverages in home owners insurance policies is credit fraud protection or ID theft protection. ID theft and credit fraud is one of the fastest growing crimes in the world and this is a wonderful coverage to have added to your home owners insurance policy!

The Exclusions

Not surprisingly, there are many specific exclusions that eliminate or restrict coverage or that specifically limit the amount recoverable. For example, under the property insurance coverage, the following is not covered: property of roomers and boarders, property in storage, motorized vehicles, property pertaining to a business, profession or occupation, property illegally acquired or kept.

Oregon Home Owners Insurance And Your Responsibilities
You, as an insured, have certain responsibilities after there has been a loss. Those include reporting the loss to the insurer (in writing) and taking reasonable steps to prevent further loss.

If you are not able to sort out your claim with your insurer, note that you must start a legal action against the insurer within one year of the loss. Otherwise, you are out of luck.

Your biggest responsibility is to look at your own policy to see what is covered, and for how much, and what is not covered.

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Home Insurances:Oregon Homeowners Insurance – What Matters?

admin — Sat, 19 Dec 2009 11:45:18 +0000

At Oregon Home Insurance Search.com, we know what matters to you most. That’s why we specialize in providing Oregon homeowners insurance quotes based on your specific needs. Complete the form above and let us help you protect everything you’ve worked so hard to achieve.
Oregon

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Article Content:
At Oregon Home Insurance Search.com, we know what matters to you most. That’s why we specialize in providing Oregon homeowners insurance quotes based on your specific needs. Complete the form above and let us help you protect everything you’ve worked so hard to achieve.

Oregon Homeowners Insurance
Oregon homeowners insurance can help you with your peace of mind, knowing that in the event of a covered loss, your damaged home will be rebuilt and your destroyed belongings will be replaced. Types of coverages include:

* Dwellings and other structures
For most of us, our home is the single largest investment we will make. Oregon homeowners insurance provides coverage for damage to your home and other structures on your property such as a shed or detached garage. For Oregon townhouse owners, your townhouse and separate structures are covered for almost any type of damages except for a few common exclusions, such as wear and tear, earth movement, flood, nuclear hazard and earthquake.

* Dwelling Improvements, Alterations, and Additions
Oregon condominium owners are covered for accidental damage to improvements you make in your unit for which your association’s policy does not provide coverage, subject to your condo insurance policy limits.

* Loss assessment
Oregon condominium owners will also receive money for assessments arising from covered damage. This can be used to pay for your share of property damage or injury awards for which your association’s policy does not provide coverage. Typically, up to ,000 is available, but this may vary depending on your policy.

* Personal Property
Oregon Homeowners insurance also provides coverage for your household contents and personal belongings. You may think your couch, coffee table, sweaters, shoes, coats, TV, VCR and CD player aren’t worth a lot, but those items all add up when you have to replace them.

* Personal Liability
Finally, in the event someone is injured on your property or you damage property that belongs to others, you could be held legally liable for the injury or damage. An Oregon homeowners insurance policy provides liability coverage and personal property insurance should this ever occur.

Oregon Homeowners Insurance – What if I don’t have it?
Without Oregon homeowners insurance, you’ll be responsible for protecting your property, possessions and liability exposure.

For instance, if your house burns down or is destroyed by a tornado, you’ll need to rebuild your home and replace all your damaged possessions with only the funds you have or can obtain. Do you usually have 0,000 readily available in case something like this happens? If so, could you be putting that money to better use instead of having it sit there just in case something happens?

Something else to consider: if someone is injured on your property, they may sue you for injuries and damages they sustain which may be well beyond ,000,000. Without insurance, you may have to liquidate your assets and even lose a portion of your wages if you need to pay for a judgment.

Available Discounts

You may be eligible for a variety of Oregon home insurance discounts.* Be sure to ask what discounts are available to you.

Typical discounts offered are;

* Multi-Line Discounts (Auto/Home, Home/Life)
* Home Renovation
* Interior Inspection
* New Home
* Nonsmoker
* Protective Devices
* Fire Safeguards
* Age 50+
* And more!

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Home Insurances:Oregon Home Insurance – What To Look For!

admin — Sat, 19 Dec 2009 11:45:18 +0000

Great news! Oregon home insurance quotes are within easy reach – for FREE!
OregonHomeInsuranceSearch.com has made it easy for people to find the coverage they need at an affordable price. You may be able to save hundreds of dollars a year on homeowners insurance by shopping

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Article Content:
Great news! Oregon home insurance quotes are within easy reach – for FREE!

OregonHomeInsuranceSearch.com has made it easy for people to find the coverage they need at an affordable price. You may be able to save hundreds of dollars a year on homeowners insurance by shopping around. And here at OregonHomeInsuranceSearch.com, you can shop many of the top Oregon insurance carriers by filling out one short form!

Here’s how our service works:

1. Complete the form above to request free Oregon home insurance quotes from local insurers.
2. Receive home insurance quotes and then compare options.
3. Pick the best policy for you.

Save time and money on the right Oregon homeowner’s insurance-just enter your ZIP code to start your free Oregon home insurance quote. Hey, we know that shopping for insurance won’t be the most exciting thing you’ll do today. That’s why we make it as painless and simple as possible. Happy Shopping!

Oregon Home Insurance Tips And Information
You can also save money with these helpful tips.

* Consider a higher deductible. Increasing your deductible by just a few hundred dollars can make a big difference in your premium.

* Ask your insurance agent about discounts. You may be able to get a lower premium if your home has safety features such as dead-bolt locks, smoke detectors, an alarm system, storm shutters or fire retardant roofing material. Persons over 55 years of age or long-term customers may also be offered discounts.

* Insure your house, NOT the land under it. After a disaster, the land is still there. If you don’t subtract the value of the land when deciding how much homeowner’s insurance to buy, you will pay more than you should.

* Don’t wait till you have a loss to find out if you have the right type and amount of insurance.

* Make certain you purchase enough coverage to replace what is insured. “Replacement” coverage gives you the money to rebuild your home and replace its contents. An “Actual Cash Value” policy is cheaper but pays only what your property is worth at the time of loss-your cost minus depreciation for age and wear.

* Ask about special coverage you might need. You may have to pay extra for computers, cameras, jewelry, art, antiques, musical instruments, stamp collections, etc.

* Remember that flood and earthquake damage are not covered by a standard homeowners policy. The cost of a separate earthquake policy will depend on the likelihood of earthquakes in your area. Homeowners who live in areas prone to flooding should take advantage of the National Flood Insurance Program.

Our mission is to help people find the right Oregon home insurance. After you fill out the short quote request form, sit back and let the insurance quotes come to you. Then all you have to do is choose the one that is right for you and your home.

Oregon Home Insurance
Oregon home insurance, also commonly called hazard insurance or homeowners insurance, is the type of property insurance that covers private homes. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one’s home, its contents, loss of its use (additional living expenses), or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home. It requires that at least one of the named insured occupies the home. The dwelling policy (DP) is similar, but used for residences which don’t qualify for various reasons, such as vacancy/non-occupancy, seasonal/secondary residence, or age. It is a multiple line insurance, meaning that it includes both property and liability coverage, with an indivisible premium, meaning that a single premium is paid for all risks. Standard forms divide coverage into several categories, and the coverage provided is typically a percentage of Coverage A. The insurance policy itself is a lengthy contract, and names what will and what will not be paid in the case of various events. Typically, claims due to floods, or war (whose definition typically includes a nuclear explosion from any source) are excluded. Special insurance can be purchased for these possibilities, including flood insurance. Insurance must be updated to the present and existing value at whatever inflation up or down, and an appraisal paid by the insurance company will be added on to the policy premium. Fire insurance will require a special premium charge, plus the addition of smoke detectors and on site fire suppression systems to qualify.

The home insurance policy is usually a term contract—a contract that is in effect for a fixed period of time. The payment the insured makes to the insurer is called the premium. The insured must pay the insurer the premium each term. Most insurers charge a lower premium if it appears less likely the home will be damaged or destroyed: for example, if the house is situated next to a fire station, if the house is equipped with fire sprinklers and fire alarms. Perpetual insurance, which is a type of home insurance without a fixed term, can also be obtained in certain areas.

In the United States, most home buyers borrow money in the form of a mortgage loan, and the mortgage lender always requires that the buyer purchase homeowners insurance as a condition of the loan, in order to protect the bank if the home were to be destroyed. Anyone with an insurable interest in the property should be listed on the policy. In some cases the mortgagee will waive the need for the mortgagor to carry homeowner’s insurance if the value of the land exceeds the amount of the mortgage balance. In a case like this even the total destruction of any buildings would not affect the ability of the lender to be able to foreclose and recover the full amount of the loan.

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