Having homeowner’s insurance is almost as important as having a home itself because you don’t want to have to pay out of pocket for damages that are not your fault. Imagine having to buy a new house because your current one burned to the ground during a freak accident while you were away. That would be a worst case scenario, but having homeowner’s insurance can help you prevent that from ever happening. The problem is that every insurance plan is different, so choosing the right one for your needs is very important. Here’s what you can do to find a suitable insurance plan for your home.
Determine Your Needs and Budget
Before you choose a home insurance plan, you should figure out how much coverage you actually need and want. Most standard plans are adequate for most homeowners as they cover expenses resulting from all kinds of accidents and disasters from flooding to tornado damage. Standard plans usually offer up to $100,000 in liability coverage, so damages costing more than that amount would have to be paid out of pocket. You have the option to get more premium plans that pay for $300,000, $500,000, or even a million dollars in damages if you’re willing to pay more. Speaking of cost, you should also set a cap on how much you can afford to pay every month. Plans that exceed this maximum amount should not be considered.
Do Your Research
The next step is to do some homework on insurance companies and the plans that they offer. There are hundreds if not thousands of insurance companies out there, and many of them aren’t very reputable or trustworthy. Make sure that you go with a company that has good BBB ratings and positive customer reviews. To play it safe, stick with a big name company or a well-respected local business. Rogers & Gray Insurance is a very reputable company located in Hyannis, MA. The business provides homeowner’s insurance in addition to car insurance, boat insurance, business insurance, and more.
Contact an Insurance Provider to Learn More
While most insurance providers have a website displaying important information including insurance plans, some may not have websites or details listed. Talk to a customer service representative to get more information so that you can make a smart decision. You may be able to speak with someone over the phone, or you could choose to set up an in-person appointment with an insurance agent to learn more about costs, requirements, and the fine print.
Ask for Discounts
When speaking with an agent, always ask for any available discounts on plans. Many providers will lower monthly costs if you have the proper safety precautions in place such as installing a smoke detector on very floor, having sprinklers in the home, or getting a security system, for example. These price reductions can make plans that were once unaffordable fall within your budget.