There are too many companies selling homeowners insurance, but before you decide on buying homeowners insurance, you need to ask yourself the following questions: what do you need? What’s covered and what isn’t? Are all polices the same? When do they pay? Is it a hassle getting the money? How much do they pay? Is there a difference between the companies? Between agents? Unfortunately, the answers to all these many questions are all very often only answered the hard during the time of a loss. below we will see some tips to buying homeowner insurance.
Find a good agent
The best way to buy homeowners insurance is by finding a local agent who represents several different companies so you can have a choice then go sit down and talk to them.
Explain clearly what don’t know about homeowners insurance, but let them know you need it and could they be of any help. This is because it’s to your advantage to be sure. The guy offering to save 80% of the cost of your homeowners insurance for a two minute phone conversation is probably not very easy to get hold of when you get a claim, so just be very careful and find an agent you can fully trust. Remember most agents have been there for a while to see more claims in a year than you will in a lifetime.
What is covered in a homeowners policy?
A typical homeowners policy covers the direct damage to things you own, damage like theft, fire, frozen water pipes, or even trees falling on your home.
Almost none covers flood and all of them have a certain limitations you feel should be fixed owners. This is the best time to talk to your agent about limitations i.e. the fine print, on the homeowners policy. Many polices have a maximum amount that they will pay for certain items or they may exclude certain items or events entirely.
Most limitations can be amended in various ways with proper documentation of the value. Make sure you take pictures of the property; this will make it easier for the claims adjuster toget the value when you get a claim. Remember to Store your pictures in a secure place away from home.
Many people have a collection of several interesting or unusual items from beer cans and teacups to silver and jewelry or even the latest electronics. Just because your house doesn’t have an expensive painting doesn’t mean you don’t need that scheduled of specific coverage. It’s always good to get the right coverage and the right information that you wish you had during the time you get a loss.
In addition to your property coverage ask about liability coverage. That family pet or trampoline may get to be quite expensive when it comes to getting a liability cover for them. Most companies offer an umbrella policy. This broadens and increases the coverage available through a homeowners policy.
Finally the best advice I can give you is to shop for an agent you trust and like. The difference in prices is going to be very minimal and the difference in claim service with the right coverage can be priceless.