November 2013 Houston and National Housing Market Trends
This month's featured video discusses homeowners insurance. Home insurance also 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 included loses occurring to ones home, its contents, lose of its use or lose of other personal possessions of the homeowner as well as, liability insurance for accidents that may happen at the home.
It generally requires at least one of the people listed on the policy occupies the home. The insurance policy itself is a lengthy contract that names what will and will not be paid in the case of various events. Typically claims due to floods or war are excluded. Special insurance can be purchased for these possibilities including flood insurance. Fire insurance requires a special premium charge plus the additions of smoke detectors and on site fire suppression systems to qualify.
The home insurance policy is normally a term contract that is affective 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 is appears that the home is less likely to be damaged or destroyed. For example, if the home is situated next to a fire station or if the house is equipped with fire sprinklers and monitored fire alarms.
Most mortgages require a homeowner to carry this insurance during all times that the mortgage remains in effect. Anyone with an insurable interest in the property should be listed on the insurance policy. There is a lot to know about owning a home. A Realtor is always your best source of information for all your real estate needs...
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The November 2013 Local and National Housing Trends has just been released. This month's newsletter is packed full of local and national housing market statistics and news you need to know to stay current with today's changing housing market.
This month's housing trends issue features:
How to Buy a Home in Foreclosure or a Short Sale?
Detroit, Santa Barbara, Reno Lead Housing Markets' Rebound
You can view the newsletter here.
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If you are considering selling your house or