Buying the right home insurance means learning as much as you can about the coverage available to you. If you own your home, you need to have a good policy to protect both your investment as well as your personal possessions. With the right policy, you will have the peace of mind you need when it comes to facing a possible disaster.
Here are 5 things you need to do before buying home insurance.
- Determine the Amount of Coverage You Need
It’s important when buying homeowners insurance that you know how much coverage you need to protect your home. If you plan on replacing your home, you will probably need more coverage than what you would get with a policy that will provide you with your home’s cash value. Replacing your home can be much more costly now than when your home was first built.
- Compare Deductibles and Payment Options
Make sure to compare your deductibles. Lower deductibles will mean higher premiums and vice versa. It’s also important to understand your payment options as well. Paying by the year may actually save you money. Choosing a deductible that fits into your budget may be the best way to figure out how to pay for your policy. If your deductible is high enough, you may be able to pay by the year or by the quarter and save money on your policy.
- Compare Different Policies
Never buy the first policy that you find. Always compare three or four policies before you decide on one. Finding one that fits your needs and seems to be good to be true probably is. Compare it to others that you have found. Talk to your friends and family and find out about their policies. Look at the coverage, the deductibles, the premiums, and their reviews. Find out how long it takes for their insurance agency to respond to a claim.
- Manage Your Discounts
Look at your discounts. Home security systems, privacy fences, and outdoor lighting may all qualify you for safe home discounts. You might qualify for a discount if you choose to bundle your home, auto, and boat policies as well. Your insurance agent will help you identify potential discounts you may be eligible for. There may even be discounts you didn’t know existed. Discuss your options with your agent to find out more.
- Know Your Policy and Review It Yearly
It’s essential that you know what your insurance policy includes. If you live in a flood plain, you will want to find out more about flood insurance. The same is true for hurricanes and earthquakes. Knowing what your policy contains will eliminate any confusion if an event occurs that requires you to file a claim. In addition to knowing what your policy includes, it’s important to have your policy reviewed on a yearly basis.
Purchasing homeowners insurance doesn’t have to be a challenge. Learn as much as you can before you buy and you will be able to find a policy that will provide you with the coverage you are looking for. At Kneller Insurance Agency, our agents offer you the answers you want and the coverage you need. Schedule your first appointment so you can have your policy reviewed! What you find out may surprise you. You may need to upgrade your coverage or report changes to your home or personal information. Contact us today to learn more!
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