Being a homeowner is great — until you have an incident that requires you to file a claim. You can't prevent a tree from falling on your roof, but you can prevent water damage due to leaky pipes.
Here are three mistakes that homeowners often make — and how you can avoid them:
1. Ignoring The Small Stuff
A small faucet leak that fills up a cereal bowl once every three days might not be a big deal now. But what happens when your toddler leaves the water running while they run to the kitchen, and the pipe gives out? Not only do you have a huge mess, but you could also be facing mold damage if you don't get all the water cleaned up. Grandma wasn't lying when she said, An ounce of prevention is worth a pound of cure. Make it a goal to care of all minor issues within 24 hours of noticing them.
2. Neglecting Regular Maintenance
You know it needs doing, but regular maintenance is a boring task that seems unimportant. That is, until it's neglected for two or three years, and it turns into a $300 problem. Suddenly, you wish you'd have spent an hour on such tasks as cleaning out your dryer, emptying the food trap in the dishwasher, and vacuuming the coils behind your fridge. If you are too busy or uninterested in these tasks, hire them out. It doesn't take long to find a high-school student eager to earn $20, or a retired person who would be happy to earn a bit of cash.
3. Not Updating Your Homeowners Insurance Policy
Few people pay much attention to their home insurance policy unless they need to make a claim. But you should be contacting your agent to update the coverage about once a year. This could be because your home went up in value, or because you had a major change that requires more coverage. Not updating your policy after a home remodel could mean thousands less in compensation when you need to file a claim after a major disaster. It's also worthwhile to shop prices every few years to see if you can get cheaper coverage or more for the same price. Your Affordable Insurance Group agent can help you with this process.
Your home is likely the most expensive investment you'll ever make. So, it can be beneficial to protect it by avoiding the three mistakes we just outlined.
These days, everyone is short on time and energy. And there are far more enjoyable ways to spend your time. But do yourself a favor and implement these tips today to save money and avoid extra home insurance claims!
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