Homeowners insurance could save your money in the long run

SAN ANTONIO – Homeowners insurance is not something many people think about very much, but there is a good reason to have it, not only when disaster strikes, but also to save you some money in the long run.

The Gagliano family is in the market to buy a new home, and a lot of their savings will be tied up in it. They said they worry about protecting their investment.

“Your home is your biggest investment,” Tim Gagliano said.

“You really just want to make sure that you're prepared for the unexpected things that can happen — fire and floods and trees coming down in your pool,” Deb Gagliano said.

Big-ticket claims, such as a tree falling into your house, are usually covered by homeowners insurance.  What some homeowners may not know is that a lot of quirky events, such as damage to your house caused by a drone, may also be covered.

You could also get as much as $5,000 in insurance money if vandals damage a family headstone. If your dog damages your property or bites someone, that may also be covered, depending on the breed of the dog.

Your property is also likely to be covered if something happens in your child’s dorm room or in your car.

“One caution — many people pay for smaller losses themselves because they worry that their premiums will go up if they make a claim, but according to a survey of our readers, that doesn't happen all the time,” said Margot Gilman, with Consumer Reports.

Of the 2,500 people surveyed whose claims were less than $5,000, more than half didn’t not see a premium increase.

People should keep in mind that policies and insurance companies vary, so it can pay to read your policy carefully and talk to your agent so that you get the most out of your coverage. 

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