A comprehensive introduction to American family insurance immigrants

What kinds of family insurance are there?

Home insurance in the United States is divided into three categories: homeowner insurance, family insurance and earthquake insurance.

Homeowner's insurance: Insurance companies only provide homeowner's insurance for the houses where the homeowner lives daily, that is, a person can only buy one homeowner's insurance (with one exception, members of Congress who have a residence in the capital and their own state can buy two homeowner's insurance for official needs). Owners with multiple houses can only buy fire insurance or landlord insurance for houses outside their residence.

Home insurance: including basic home insurance, comprehensive home insurance, special insurance, tenant insurance, comprehensive insurance, apartment home insurance, old house insurance, etc. , various types. Family insurance covers unexpected losses except natural disasters such as floods, earthquakes, wars and nuclear accidents.

Earthquake insurance: including earthquake, war, nuclear accident, flood, etc. Usually excluded from most insurance clauses. To insure against earthquake insurance, earthquake insurance can be listed under general insurance clauses, or special insurance items can be set up. 70% of American real estate earthquake insurance is sold in California on the west bank (California law requires insurance companies to provide earthquake insurance). For a house worth 200,000 US dollars, the annual earthquake insurance premium is about 400-600 US dollars, which is almost equivalent to the normal ordinary housing insurance premium of the owner. In areas where earthquakes rarely occur, the insurance premium for earthquake insurance is relatively cheap.

How much does it usually cost to buy home insurance in the United States?

The cost of each insurance is different. Such as earthquake insurance: in earthquake-prone areas, the annual earthquake insurance premium for a house worth 200,000 US dollars is about 400-600 US dollars, which is almost equivalent to the normal ordinary housing insurance premium of the owner. In areas where earthquakes rarely occur, the insurance premium for earthquake insurance is relatively cheap.

Is there any way to reduce the housing insurance premium?

Generally speaking, increasing the out-of-pocket amount can reduce the housing insurance premium. In addition, the insurance premium can be reduced by reducing the insurance amount, or by insuring the house and the car together. In addition, some insurance companies will give 5% discount to old customers who have been in business for 3 to 5 years, and 10% discount to old customers who have been in business for more than 6 years. As a last resort, strengthening the safety of houses, such as installing smoke detectors or alarms, may get a 5% discount.

Why do you need to buy home insurance to buy a house in the United States?

Homeowner insurance mainly covers the losses caused by fire to houses, so some people call it fire insurance. In fact, homeowner's insurance also covers losses of houses or personal property caused by many other reasons, as well as accidents of guests or passers-by indoors or outdoors. A correct understanding of homeowner's insurance and reasonable purchase of homeowner's insurance will protect your property and reduce property losses caused by disasters.

In the United States, a loan to buy a house must buy home insurance?

If you borrow money to buy a house, the loan company will ask you to buy homeowner's insurance before the transfer.

What is the claim procedure of American family insurance?

The claim process of Home Insurance is as follows:

The owner must declare the loss of the house within 60 days after the loss occurs, and fill in the "loss certificate" and submit it to the insurance company.

All property losses must be discounted (except those with replacement cost insurance). If the insurance company has a bad business style and fails to settle claims according to the regulations and contracts, the applicant should write down the reasons for the whole incident and keep a copy of the letter communicated with the insurance company so as to find a lawyer to sue the insurance company.

Is there a time limit for home insurance claims?

The time limit for claims of Home Insurance is as follows:

Send a "loss certificate" to the insurance company within 60 days after the accident;

The insurance company shall select the appraiser within 20 days after issuing the notice of appraiser;

If there is any objection to the insurance company's claim settlement, a lawsuit must be filed within 12 months after the loss occurs;

If the vacant house is insured for less than 60 days at the time of loss, the insurance company will not settle the claim.

The landlord bought home insurance.

Why do tenants buy another copy?

Because the landlord's insurance can't protect the tenant's property, its coverage is limited to the owner's own house. In other words, if the tenant's things are stolen, the landlord is irresponsible. Tenants who purchase tenant insurance can enjoy property losses caused by theft of their belongings, man-made or natural disasters.

Rent a house in America

How much does it usually cost to buy tenant insurance?

It usually costs $350 a year for a tenant to buy a $50,000 tenant insurance policy. The less insurance coverage, the cheaper the insurance premium.

What is the insurance coverage of American real estate insurance companies?

If the standard homeowner insurance policy is based on replacement cost (RC), the compensation for structural damage of the house may exceed your insurance coverage. For example, the replacement cost is about $654.38 +0.2 million, which is the insurance money you need. However, if you have an RC clause, the insurance company may pay you 2-50% more.