People who are new to owning a home may be disappointed to find the expensive costs associated with the purchase do not end there. Each year of ownership has the possibility for new and expensive repairs to be required in order to protect your investment. Some of these repairs can be minimized through effective preventative maintenance, while others may be unavoidable.
Aside from diligent preventative maintenance, homeowner’s insurance can be a saving grace by helping to cover the costs of some of those repairs. But even that cannot be used to cover every cost that springs up. After all, insurance companies need to make a profit, and they need avoid paying out money as much as possible.
What some policy holders may not realize is that every claim on an insurance plan could lead to the raising of premiums. So when does a policyholder know if they are right to make a claim, or if they should pay for the repair out of pocket? Thankfully, there are easy guidelines to follow which will help you feel more confident in making your final decision.
Look to the following infographic to find out more on how to best protect your investment.
Article Submitted By Community Writer