Shopping around for home insurance could easily be the least enjoyable forms of shopping. But it could save you thousands of dollars.
Insurance Company’s ratings
The first thing to look out for is any company’s rating. J.D. Power is a great resource for checking out ratings insurance companies.
The ratings are broken down into offerings, customer dealing, price and customer satisfaction. Also, look for online customer reviews and try to contact their clients if necessary. Know how their overall experience was dealing with the insurance companies. Also check out the National Association of Insurance Commissioner for any customer complaints of the insurance companies before selecting a company.
This saves a lot of hassle when you are looking for an insurance claim. Some insurance companies look for ways to underpay and make the process of settlement too lengthy and tiresome for homeowners.
Although all standard homeowner’s insurance policy will cover property damage, contents lost, and relocation expenses, but insurance companies differ on the deductibles. Depending on the price levels, deductibles differ. Some insurance companies may offer add ons like flood insurance at lower premiums.
Make sure to know the value of the coverage you require in case your house in destroyed. Make a list of everything in your house and add their value together. This may also influence your decision. You may be under-insured, which could prove to be disastrous.
Look for discounts different companies are offering on premiums. Some companies may offer lower rates for no-smoking houses, and some for installing storm shelters. Look for discounts that you can avail easily and save hundreds of dollars.
There is an Easier Way to Shop for Home Insurance
Shopping for insurance can be made easy by hiring an insurance agent. The insurance agent will first assess your requirements, and then get you a policy that best fits you. He will also make sure that the insurance company is not a scam, but a reliable one.
An insurance agent will save you a lot of time, hassle and stress. Insurance shopping needs to be done every year; not just once. An insurance agent will do that for you, every time, when your policy is up for renewal. This will also ensure that your policy is up-to-date with your current requirements.