Just as in any industry, insurance has agents that only care about making the next sell. With the amount of disposable income going down I am seeing more price sensitive people. When it comes to insurance the cost is not what you pay on a monthly basis but the cost of that unpaid claim. Here are some tips for buying home owners insurance.
1) Interview the agent. Would you hire and employee without doing an interview? The agent is being hired to protect your largest asset. Will they do a good job for you?
2) Make a list of concerns you have about insurance and ask. As an agent it is may job to address those concerns.
3) Ask about limitations of coverage. Most policies have limits for theft of guns, money, jewelery, artwork, gold, silver, etc. You can increase the coverage but it does cost more.
4) Ask what perils you are covered against. Perils are wind, fire, theft, etc. Read the local paper and find articles and ask if this was you do you have coverage.
5) Ask about losses that would not be covered. Some policies include water losses that are sudden and accidental other do not. Not all policies are created equal. Mold coverage is always capped at a small amount or excluded.
6) Make sure you have dwelling coverage in an amount that will rebuild your home in a total loss.
7) If your home is over 25 years old ask about code upgrades. If your insurance company has to up grade plumbing, electrical, or heating because of new code requirements do you have coverage. Some policies exclude any coverage for this.
This is just a few tips. Remember insurance policies are not one size fits all.
For questions contact
Joe Smith
JDS Insurance Agency, Inc
971-205-4000
email: joe@jdsagency.com
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