We've put together a few things you need to look out for when shopping or comparing proces on homeowner's insurance.
Do you really know what you have coverage for in your house? What about outside your house? Do you have an agent that educated you on what is your responsibility and what the insurance will cover on your home? If you're like more than over 76% of the population, chances are your answer is, "No." That's OK, we're here to help.
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At Horse Creek Insurance transparency is key when it comes to talking about your home coverage. What matters and what is covered is our important focus here along with getting you a price point that you're happy with. Here are some things to look for when shopping for home insurance.
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A huge factor in the price of your policy is the replacement cost of your home. But what does that really add up to?
- Check to make sure that the replacement cost isn't a "bare-bones" policy. Sometimes a quote will come in at a low price point because it doesn't offer much in ways of coverage. The house you would end up with, should something catastrophic happen, would be much less than what you imagined it to be. Ask to see a copy of the replacement cost estimate to make sure it's what you desire, not what your agent thinks they can put in to get you into a low price point.
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Another important point to remember is the individual items that are covered in your policy.
- Do you know what is truly covered by your home insurance policy. How about the service lines that lead into your house? What about the contents in your home? Do you have a collection of furs, guns, jewelry? Have you addressed this with your agent? Make sure you have all of your assets covered!
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Do you know what your deductible is on everything?
- So, when you signed up did you go over what all the numbers meant? Is your deductible $500, $1000 on everything or is there a separate deductible for wind and hail damage? After the recent rash of storms, especially the one is 2016, companies have been changing the way they cover wind and hail. Look to make sure your deductible doesn't include a 10% deductible for wind and hail.... If your home is worth $250,000 what is 10% of that? Did you know you're on the hook for that amount? Another great discount to look out for is a new roof discount. Chances are, if you live in Colorado you have had a new roof put on in the last 5 years. There's a discount out there for that!
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