Homeowner’s insurance (also known as house insurance) isn’t just a luxury. It is a necessity and this is because it protects your home and possessions against damage or theft.
As we know, a homeowner’s insurance policy protects you from having to pay unexpected repair or replacement costs when an event damages your home or personal belongings, or when you’re responsible for bodily injury or property damage to someone else.
WHAT TO CONSIDER BEFORE GETTING A HOMEOWNER’S INSURANCE
Having understood all about the homeowner’s insurance policies, let us move unto the main matter. Before beginning your search for a home insurance policy, ask yourself these questions:
How much would it take to rebuild my home?
The rebuilding cost may be the most important factor of your homeowners insurance policy because, it decides the amounts for four out of the six areas of coverage.You can find out how much it would cost to rebuild your home by either using the estimate given to you by an insurance provider, estimating the cost by yourself or talking to a local appraiser who has intimate knowledge of the real estate market in your area.
Are there ways I can save on my policy?
Home insurance is more expensive than other insurance policies. The best way to save money on your policy is to look for discounts. Many insurance companies offer discounts for bundling home and auto insurance, being claims-free, having home safety features, and setting up automatic payments. Check to see if you’re eligible for these discounts because, oftentimes, they can save you up to 25% on a policy.
What kind of customer service experience do I want?
If you prefer to talk on the phone, choose a company that has 24/7 customer service or a claims center that’s open 24/7. If you like handling issues yourself, choose a company that has an online portal and mobile app.
Are there other events or items not in the policy I will need coverage for?
If there are certain areas of coverage that your policy lacks, you may want to consider endorsements or separate insurance policies.
For example, if you have valuable belongings, you may want an endorsement that covers the full cost of those belongings. If you live in an area that’s susceptible to natural disasters, you may want to get an earthquake endorsement or separate flood insurance policy.
Having duly taken all these into careful consideration, you are set to begin your home insurance journey.
0 comments:
Post a Comment