In many cases, the purchases that you make for your home can help to lower your insurance rate. A home security system, carbon monoxide detectors and other security features can make your home safer and prompt your insurance provider to reduce your rate. However, there are other times that the purchases you make can actually have the opposite effect on your home insurance rate. The impact that these three purchases has on your home insurance shouldn't discourage you from buying them if doing so suits you, but it's important that you're aware of how your rate might be impacted.
As a technology contractor who works out of your home office, you may not realize that you should always have a general liability insurance policy in place. General liability insurance protects you and your business against many different types of potential losses from unintended actions that could cause you to be sued by a client. Here is some additional information about general liability insurance to help you understand why having a policy is vital to protect your small business:
If you plan on renting out your house, the best way to protect your home is through an insurance policy. That way, if your renters damage your house or if your home is damaged in a qualifying event, your investment will be protected. However, the type of insurance you need depends on your rental set-up and situation. Long Term Rental If you plan on renting your home to the same person or family for an extended period of time, with a lease that lasts 3 or more months, you are going to need a landlord policy.
If you are planning on buying or renting a home in the future, then you might have heard of homeowners insurance. Before you commit to a home, it's a good idea to research your options and figure out what kind of policy would be best for you. Here are some overviews of the most popular types of homeowners insurance: Basic and Special If you plan on owning your home, then these are two of the most popular general insurance policies.