Beacon Point Insurance

Is it worth claiming on home insurance?

It’s not worth claiming on your home insurance policy until the cost of an incident is substantially above the deductible you have on your home insurance policy. If...
Beacon Point Insurance

Can a deductible be waived?

When it comes to home insurance, the deductible is the amount of money you must pay for repairs before your insurance company pays for your claim. … Fortunately, in some...
Beacon Point Insurance

How does a $1000 deductible work?

Most deductibles are a flat dollar amount, $500, $1000, $2500; and deductible amounts do vary by state. A deductible is the amount of money you will pay out-of-pocket during...
Beacon Point Insurance

Is home insurance included in mortgage?

Home insurance is typically included in your mortgage payment but it is separated from the principal and interest and managed by an escrow account.  The escrow account also...
Beacon Point Insurance

Do I have to pay home insurance?

Unlike driving a car, you can legally own a home without homeowners insurance. However, if you finance your home with a mortgage, your lender most likely will...
Beacon Point Insurance

Do you pay home insurance monthly or yearly?

Home insurance policies are typically 12 months long.  Most insurance companies have payment options that allow you to pay your premium monthly.  If you are able to pay your...
Beacon Point Insurance

Do I pay homeowners insurance at closing?

Your lender requires that you secure and prepay a premium that fits the loan requirements for coverage. The exact amount owed at closing depends on your specific loan for new...