Considering how expensive of an investment it is to purchase a home, one might think the high costs end there. Unfortunately, that isn’t the case. Every year of ownership has the potential for new and expensive repairs to be made. Some of them can be mitigated through proper preventative maintenance, while others are unavoidable.
Aside from simple preventative maintenance, homeowner’s insurance can be used to help cover the costs of those inevitable repairs. Sadly, even that won’t cover the costs of everything that will arise. After all, insurance is a business, and they need avoid spending money as much as possible.
What many policy holders do not know is that every claim on an insurance plan could lead to premiums being raised. So when does a person know if it is right to make a claim, or pay for the repair out of pocket? Fortunately, 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.