Let’s start 2015 off with no regrets like this guy above. Here are a few tips for buying homeowners insurance in 2015:
- Make sure you understand the replacement cost of your home- This is the cost to rebuild your home from the ground up in the event of a total loss. The amount your paid for your home and market value are not the same as the replacement cost since a part of the value of your property is in the land and insurance doesn’t cover the dirt. It is not possible to know exactly what the replacement cost is, but we can help you get as accurate as possible.
- Research companies- Make sure you not only look at the overall cost, but the coverage included on your home insurance to make sure you’re not underinsured. We are set up to use over 100 insurance companies to find the best insurance that fits your personal or business needs. Comparing apples to apples is important when looking at the cost for different coverage offered.
- Look past the ultra basic home insurance policies- Some policies offer the most basic coverage for listed perils (possible cause of a loss) while others offer coverage for almost everything. HO-A, HO-B, HO-3, DP-3 are all different forms used for home insurance and all come with drastically different coverage and prices. Speak with us to make sure you have the proper coverage.
- Update your home policy annually- Whenever you do upgrades, additions, or any major renovations to your home, make sure you are updating your agent as well so the increase in value and associated cost to rebuild are factored into your replacement cost calculator. This helps us ensure you are insured for the right amount when and if you have a claim.
- Save money by bundling your insurance- Most large companies that we work with offer discounts of 10-30% for bundling your home and auto policies together. There is a real incentive financially for the consumer to bundle with one company. Travelers, MetLife, Encompass, Progressive, The Hartford, and many others offer this multi-policy discount which can save you big money!
Call us today to see how we can help you with your home, auto, life, or business insurance. Happy 2015!