What you should know when you’re ready to buy home insurance.
1. There are a myriad of insurance companies to choose from so shop around.
Price, eligibility, and coverage vary by company. Obtain an estimate (quote) of what the insurance will cost. To get an accurate estimate you must provide:
- Personal information: Name, address, insurance loss history, nature & breed of household pets, social security number.
- Dwelling information: Year and type of construction, years of updates on heating, wiring, plumbing & roof, square feet, special features inside, number of families in dwelling.
- Insurance coverages: Dwelling, personal property, & liability limits, as well as additional endorsements.
- Deductible: How much you’re willing to pay out-of-pocket before the insurance company begins paying.
Tip: We offer free auto and home insurance quotes. It only takes 3 to 4 minutes to obtain estimates from leading insurance companies in your area (USA only).
2. Optional coverages to consider:
Earthquake
Flood
Home Business
Increased Limits on Liability, Medical Payments, Other Structures, Personal Property
Inflation Guard
Mine Subsidence
Personal Property Replacement Cost
Scheduled Personal Property
Sewer Backup
Watercraft
3. Price is important, but there are other factors to consider:
-Coverage. The least expensive policy may also provide the least amount of coverage.
-Licensing Status: An insurer not licensed to operate in your state is not subject to its rules and regulations.
-Service. Check the company’s customer satisfaction record available through your state’s insurance regulatory agency.
-Comfort. Buy insurance from an agent or company representative you are comfortable with. He/She should be able to discuss your coverage needs and offer insight into the claim settlement process.
-Financial status of the Insurance company.
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