Such insurance usually provide protection against a wide variety of losses or damages that might occur to one’s residential unit or dwelling house and includes damage of fitments and furniture installed in the home, as well as accidental damages that might occur due to act of fire, flood or any other natural calamity.The pre-condition of a House Owner’s Insurance to be legally enforceable is that any one or more of the named occupants (insured) actually should occupy the house for residential purposes only.Home Insurance Policy in the United States is very clearly defined and laid out by Insurance Services Office, which is otherwise known as the ISO and was set up in the year 1971, in the city of New Jersey.Broadly, the ISO has categorized all policies to be commercially sold in the United States into six different categories and any individual who intends to purchase a Home Insurance product in United States may do so, after giving a careful consideration to these standards.These six standards are:1) Basic Policy, 2) Extended Policy, 3) All Risk Policy, 4) Renter’s Insurance Policy, 5) Condominium Insurance Policy and 6) Insurance Policy for Old (or pre-owned) Houses.Basic Insurance Policy, as the name suggests provide limited protection coverage against 11 different risks or possibilities. The US Insurance Laws require that all these risks should be clearly documented in the Insurance Policy offer document.Extended Policy essentially is the same as Basic Home Insurance Policy, only difference is it provides additional protection against 6 more categories of risk which the Basic Policy does not cover.The All Risk Policy is another extension and practically covers against all possible categories of risks which a residential home can be usually having. Notable risks which are not covered by this category are damage and/or destruction caused by earthquakes and/or floods.The Renter’s Insurance category essentially is somewhat similar to the Extended Home Insurance Policy in terms of risk coverage, but the benefit of protection is available to tenants. This category also provides insurance protection to personal property.The Condominium Policy as the name suggests is meant for house owner’s occupying dwelling units (residential flats or penthouses) in condominiums. The definition of a condominium, for the purpose of Home Insurance, again, is elaborated by the ISO. By definition, it means a group housing society or residential complex having a common outer periphery and can be demarcated as a separate group of houses or flats from the main city, town or village where/within which, the condominium is located. The extent of risk coverage under this category is more or less the same as Extended Home Insurance Policy.The sixth and last category of Home Insurance that can be purchased in US is the Older Home Insurance Policy. This category is intended to provide protection to pre-occupied and/or pre-owned houses which may or may not be insured earlier and is the subject matter of sale or property transfer from the earlier owner to current owner. The extent of risk coverage for this category of Home Insurance product is again explicitly laid down by the Insurance Services Office.Apart from giving careful consideration to the above mentioned six standards, there are few general parameters which also need to be weighed in, before an individual settles down for purchasing a home insurance product in the United States.Amount of paperwork and other formalities This is another important parameter which needs to be given adequate consideration while finalizing a home insurance plan. Insurance companies which involve substantial amount of paperwork and a complicated process of signing up should be preferably avoided.List of Exclusions The list of exclusions should be strictly in accordance with the guidelines issued by ISO and should not contain any between-the-line clause, or additional exclusion not explicitly laid down by the ISO.To conclude, these are the brief guidelines which an individual home owner in United States should carefully consider, before he/she finalizes on buying a home insurance product.
Are you looking for an affordable health insurance company? Almost everyone needs health coverage, and they need a plan that meets their family’s needs, covers the services they need most, and fits into their budget. While some people think they should be able to find a single insurance company that has more affordable rates than others, that’s not exactly how the process works. Insurance companies generally have more than one offering. They provide lots of different insurance plans. Some are basic, no frills plans at the lowest cost. Others provide more coverage for a wider range of needs and therefore cost more.Here are three steps to follow to discover an affordable health insurance company to meet your specific needs:1. Determine how big the insurance company is. Companies with more members have more negotiating power when it comes to getting rates for working with doctors and hospitals. They are able to get lower rates for the services you use, and as such, they can charge you lower rates for your insurance coverage. Conversely, smaller insurance companies don’t have that same bargaining power and must often pay more for the same services. As a result, you pay more, too.2. Get quick quotes and compare plans. Via the Internet, you can get quick quotes on insurance plans from multiple companies. Certain websites include tools called quote engines, which will let you get multiple quotes and then compare them side-by-side. It’s as simple as plugging in your zip code and filling out a few choices. In a matter of about 10 seconds, you’ll get a list of quotes. By comparing the plans and opting for ones that only provide for the services you need and desire, you can save the cost of unneeded services and get a much more affordable health insurance plan that meets your requirements. (For instance, men do not need maternity coverage.)3. Research the company. Before you actually select and pay for a health insurance plan, make sure the affordable health insurance company you select has a good reputation. You can find out how current customers have rated the company and the plan. Look around to get some feedback. You want to know that your affordable health insurance company is also a reputable one.Saving Money With Your Insurance CoverageIn addition to saving money on your insurance premiums, there are things you can do to help save even more money on medical expenses. Here are a few tips:* Contact multiple providers to find out the prices on particular services and procedures. Some providers offer much better pricing than other facilities for the exact same procedure.* Reserve emergency room visits for absolute emergencies. Otherwise, go to the walk-in clinic or call for a regular appointment with your physician.* Utilize home remedies for common ailments before going to a physician. See if they work first.* Don’t get x-rays every single visit to the dentist. You really only need x-rays once every one or two years.* Utilize a mail order service for prescription medications.* Always ask if there is a generic prescription medication available and get that instead of the name brand if possible.* Opt for a higher deductible on your health insurance plan. Your premiums will be lower and, if you don’t use health insurance services often, you’ll come out ahead financially at the end of the year.* Pay premiums annually. You can often get a discount versus making monthly payments that may include a service fee.* Go to the local free clinic when you can.Finding an affordable health insurance company is one step toward ensuring your family’s health needs are met in accordance with your budget. When combined with these additional tips, you can manage your health expenses even better.