Fast Facts About Home Insurance Policies in Rancho Cucamonga CA Nov06

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Fast Facts About Home Insurance Policies in Rancho Cucamonga CA

Owning a home is a great thing but it is also a huge investment. To protect that investment, homeowners need to carry a home insurance policy in the case a disaster happens. Whether it be from a fire, weather-related, or a natural disaster, a good insurance policy can be a lifesaver for a distraught homeowner. Here are some fast facts about home Insurance Policies in Rancho Cucamonga CA that every homeowner needs to know.

Credit Is King

Before purchasing a home, every potential buyer should be keenly aware of their credit score. Not only will it be a key factor in getting the best loan rates but the credit rating will also play a major factor in what type of insurance rates are paid. In the “real world”, credit is king and one of the most important factors in getting the best deal on major purchases is to have a great credit score. While insurance policies may still be purchased with poor credit, the rates will be much higher than they would for somebody with a great or even good credit score.

Claims Make The Rate Go Up

In most states, filing even one insurance claim can make the insurance premium rate go up. The only state that disallows this practice in Texas, where the premium rate cannot be raised if there has only been one claim made on the home insurance policy. Industry experts claim the reason for the premium hike is that people who make one claim are far more likely to make a second, third, or even fourth claim on the policy. This why the homeowner needs to carefully consider if making a claim on the home Insurance Policies in Rancho Cucamonga CA is really on their best financial interests.

Fido May Cost The Owner

If a homeowner has a certain breed of dog, the insurance premium may also be affected. This is because insurance companies have determined that there are certain breeds of dog more likely to result in personal injury claims than others. If the homeowner has a pet, they may want to inquire with the insurance company if the pet is affecting the insurance premium in a way.

For more information about home insurance policies, contact a reputable company such as Barranca Insurance Services Inc. They will be happy to answer any question the homeowner may have. You can also connect them on Facebook.

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