By: Ajay kumar Medagani June, 05, 2019
A recent Gavop survey on home insurance rates in Layton, Utah revealed that a typical home in the city is valued at $206,600, the median insurance rate is $1,120, and the savings between the 25th and 75th percentile in insurance premiums is $710.
Layton, with an estimated population of 80,000, is located in Davis County, Utah. To provide a comprehensive analysis of the home insurance market, Gavop examined typical home ...
By: Shravya Reddy May.8, 2019
Drone technology is one of the most important innovations in real estate marketing and listings. Low-quality images and grainy satellite aerial shots no longer make the cut. In the United States alone, 60% of new property buyers favor images shot by a drone, and 73% of real estate clients prefer to add videos shot by drones in their listing. A well-made aerial video can serve as a virtual tour for a potential new home ...
By: Ramu Garuda May.06, 2019
Gavop analyzed net savings on home insurance between high ($2,500) and low ($500) deductible plans in Port Orchard, Washington and found that homeowners choosing the lower deductible plan can save as much as $1,340 in total yearly spending. This citywide analysis is based on a hypothetical claim amount of $2,000. For a $500 deductible, Port Orchard’s citizens pay a median yearly premium of $1,170, and for a higher deductible ...
By: Ajay kumar Medagani April, 05, 2019
Gavop’s study of home insurance prices in Marysville, Washington, shows that the typical home value in the city is $250,800, the median home insurance cost is $1,280, and the savings between the 25th and 75th percentiles of insurance premiums are $820. In comparison, a typical home in the state of Washington costs $272,900, the median home insurance value is $1,560, and the savings between the 25 ...
The Insurance Policy you Choose Should be Guided by your Coverage Needs
While shopping for home insurance, buyers can get confused by a multitude of technical jargons and insurance terminologies. Although insurance companies provide coverage for different types of damages, the coverage they provide can vary between one policy and another. Policies in the home insurance market are generally named the following – HO1, HO2, HO3 etc.
Depending on your provider and policy type, there can be differences in your insurance ...
An important factor that influences homeowners insurance is the type of construction material used. There are different kinds of construction materials used across the country – frame, brick, stucco, masonry etc. Gavop analyzed state government insurance data to evaluate the difference in premium based on the construction type of a home, on a state-wise basis.
In places that are less prone to fire, builders prefer frame or masonry type of construction, as they are cheaper. In a frame type of construction ...
While home value is one of the factors for deciding your coverage, it is guided by other factors as well. One of them is the replacement cost of your home based on present prices of labor and material. The other is the sum total of the value of all your personal belongings, so that if in a calamity all were to be destroyed, then you can secure coverage to buy them back in a short period. You would also have ...
The HO1 home insurance policy is usually viewed as the most basic policy. It is also called – a perils insurance policy. It provides coverage against damage caused by the following:
More often than not, consumers buying this policy are recommended to opt for ...
Chris Hackett, senior director of personal lines policy at the Property Casualty Insurers Association of America, says that there is a major correlation between claims that have been made and the likelihood of future claims. It is no surprise, therefore, that insurance providers will keep an eye on your claims history for determining your home insurance rates.
A negative history of filed claims does impact your home insurance rates. Nonetheless just because you have an unfavorable claims history, it does ...
Insuring your home is a necessary evil and one that keeps you safe in times of crisis. You might think of the insurance bill as a liability, but if you are the unfortunate victim of natural or man-made accidents or theft or if your home needs to undergo a big repair work, this is the kind of investment that protects your finances from large-scale damage. Unless you have a decent amount of independent wealth and your home is worth a ...