Are You Paying too Much for Homeowners Insurance?

If you have concerns about your homeowners insurance, it may be best for you to take another look at your options. Would you save money- and gain more confidence by updating your current policy? Although shopping for homeowners insurance can seem like a hassle- it can do much to decrease your insurance costs.

When you purchased your first homeowners insurance policy, it was probably right after you purchased your first home. Your agent may have asked you questions about your new house- the number of bedroom, bathrooms, living spaces and extras like a fireplace, deck and finished basement. They may also have asked about your pets and any other extras you may have- like an indoor pool or Jacuzzi. Based on the size of your home, its construction and its interior finish, your agent placed a certain value on the home and insured it for that certain amount. The policy you purchased insured the cost to repair or rebuild just your home- not the actual land that it sits on.

The majority of insurance companies have plans to increase the amount of coverage for your home each year- to keep pace with the increasing worth of your home, and the increases in the cost of materials and labor. Therefore, if you have owned you home awhile, your insurance costs have probably increased along with your coverage amount. Although your insurance costs should increase to keep pace with the cost of your home, a formula that automatically increases is not a perfect one.

If you feel like you are overspending on your homeowners insurance coverage, now is the perfect time to shop around. In your search to protect your home, stop by www.whitinginsurance.com. Whiting Insurance is an independent insurance agency looking to provide your home with comprehensive coverage at an affordable rate.