6 Tips You Should Know About Homeowners Insurance

1.  What standard homeowners insurance policies cover

Generally, a standard homeowners insurance policy protects the following:

  • Coverage for the physical structure of your home
  • Coverage for your personal belongings, up to specified limits
  • Liability protection
  • Additional living expenses

2.  Several factors can affect the pricing of your policy

Policy prices are based on many variables:  the size of the home, quality of construction, location of the home, age of the home, credit scores, claims history and optional coverages.

3.  Insurers differ

Some insurance companies have rates and coverage riders that favor older homes. Others favor newer homes and finally, some companies target larger, more expensive homes. The point is insurance companies are different and can vary widely in their pricing.

4.  Don’t just look at price

A low price is no bargain if an insurer takes forever to service your claim.  Research the insurer's record for claims service, as well as its financial stability.

5.  There is a difference where you buy your protection

There are actually 3 sources for insurance.

  • Captive agents can sell you the insurance of only one company.
  • Telephone representatives can offer you the insurance of one company, and only on the telephone.
  • Independent insurance agents represent a number of insurance companies, and research with these firms to find you the best combination of price, coverage and service.

6.  Understand the claims process
 
Some agencies are quick to pass the claim off to the insurance carrier. They do this so that if anything goes wrong, it does not reflect poorly on the agency. Others do it simply to free up time.  Some agencies feel strongly that claims service is an important part of their job. They make a point to get involved in the claim and they partner with their insureds throughout the claims process.

Your home is often your most valuable asset.  Protect it properly with the right insurance coverage and the right agent to guide you through the process. 

If you would like to receive a free homeowners insurance quote, please complete a homeowners insurance quote request form or call us at 800-922-8381.