Choosing a policy can be very confusing with so many choices out there. Most importantly you want to find the policy best suited for your needs and property in order to provide maximum protection. The primary part of the policy covers the structure. The appraised value is not as much as the rebuild cost (incase of disaster). The policy should also cover other structures on the property such as garage, shed, pool, etc. Along with structural property, personal property should also be included. It is very important the limit listed is enough to cover all your personal property within the structure. Make sure the provider explains in detail how the company pays on claims. Also, there are other questions you will want to ask at this time:
1. Are there any discounts? (if you bundle home insurance, car insurance, etc)
2. How much coverage is needed?
3. Is disaster coverage needed? (VERY IMPORTANT to ask)
4. What is covered under the policy?
5. Is loss-of-use coverage included?
6. Does the policy offer replacement value or cash value for belongings?
7. What type of liability coverage is included?
8. How much extra for an umbrella policy?
9. How does the claims process work?
Be sure to shop around, you get what you pay for and you can never be too careful when it comes to purchasing insurance for you home. Compare policies and their costs among several companies. These may seem like a lot of questions but any reputable company should be prepared to answer, these are crucial questions to ask in order to insure you receive the correct policy.... more