Understand What You Need: Before you look for homeowners insurance, it is important to understand each policy and quote will likely be very unique. Many different factors will go into your policy to determine how expensive it will be. Some factors to consider and have ready to tell your agent are:
- Square footage
- Number of stories
- Is it your primary home?
- Are there other structures on your property?
- What materials is your house made of?
Be Educated About Different Coverage Options: If your home is unlivable, most basic coverage plans will include rebuilding, personal property, and living expenses. Depending on the price of your home, you may want your coverage to be higher and protect more damages. Your coverage should cover any home costs that are out of your control; for example, if a pipe bursts.
Create A Home Inventory And Keep Receipts: It is important to know what valuables you have in your home and how much they cost. Make sure to read the fine print of your policy, it may only protect up to a certain amount of money. You can upgrade your policy if your valuables exceed the amount that is covered. Also, if you do any home renovations, keep a record of how much the projects cost so you can have the protection and ability to submit claims to the insurance company if something happens.
Stay On Top Of Your Coverage: Every year, review your policy to make sure it still properly covers your needs. Also, update your home inventory list to make sure you are always prepared.
