Home Insurance. How do you choose?
- The internet is your friend! Search for comparisons between different companies. See what others have to say about insurance companies they’ve used in the past.
- Get multiple quotes. Shop around and compare the quotes you are given. Look at coverage and deductibles.
- What if it’s an emergency? Consider choosing a company that is available to you 24/7 and has shown you great customer service.
- Location matters. Many factors can affect your premium. Things like being far from a fire station, being in a flood zone, living in a high crime area, or other high risk areas, could raise your premium.
- Good news! There are discounts available! Ask your insurance agent what discounts their company offers so they don’t leave it out of your quote. Adding smoke detectors, alarm systems, and other items to your home to reduce risk can further save you money.
- Think cost, not market value. What you want covered is the replacement of your home, not just its market value. If lightning strikes your home and it burns to the ground, you’re going to be replacing everything inside which is likely to be more than its market value.
- Know its history. Often buyers get a list of past claims made on the house so they can be clued in on “soft spots” of the home.
- Tell the agent everything. If running a business out of your home, you may need different coverage. There’s nothing worse than being unprepared. Policies are written certain ways for certain reasons, so don’t try to cut corners to save you money. This could lead to canceled policies and/or paying out of pocket for things you assumed were covered. KNOW YOUR COVERAGE.