Top 6 Tips for Choosing the Right Homeowners Insurance –

Undoubtedly, your home is the most valuable investment you can make. What if a fire breaks out or natural calamity occurs and your home is ruined? Disasters may strike unexpectedly, so you must protect your home through homeowners insurance.

Standard homeowners’ insurance policies cover homes and their belongings. Purchasing a homeowners insurance policy isn’t required by law, though protecting your greatest investment is necessary should a mishap happen. To help you choose the right home insurance in Naples, FL, the following are tips to look at:

1. Have Your Home and Personal Information

Having your home and your personal information on hand will help expedite gathering different quotes for home insurance. For personal insurance, you will need contact info, marital status, date of birth, and name.

Regarding your home’s information, you will need details like address, the kind of house you live in, square footage, number of stories, how long you lived there, and number of bathrooms/bedrooms.

2. Look at the Coverage

Ensure your homeowners’ insurance policy offers enough coverage for the structure of your home, liability, additional living expenses, and personal belongings. Consider all the risks, like earthquakes or floods, and get a separate policy if necessary.

In addition, consider sub-limits on the coverage for personal things. Buy a floater to increase those limits or purchase separate insurance for more coverage. To improve liability coverage beyond the maximum, experts at Del Toro Insurance suggest you opt for umbrella insurance policies.

3. Consider the Location of Your Home

The rates of homeowners insurance vary by ZIP code, city, and state and are based on common risks in that area. For instance, the cost of a home insurance policy in a high-crime neighborhood is costlier than the average rate in a place with lower incident rates.

Being familiar with common causes of risks within your area will help determine what type of policy you need. The following are some of the things you will have to consider:

  • Fire station proximity
  • Weather events
  • Crime rates

4. Inquire about Bundling and Discounts

Every insurance company will provide discounts on different insurance products, and that includes homeowners’ insurance. So, don’t hesitate to inquire about discounts, as an insurance agent will likely get one or several that apply to you.

For instance, you may pay less on premiums if you currently live in a low-crime area, have low risks of home fires, have brand-new roofs, or have a good credit score.

In addition, if you bundle your home insurance with auto insurance or any other type of insurance, you will surely save money.

5. Consider Client Satisfaction

Even if you believe that you have found a perfect home insurance policy for your budget and needs, this won’t amount to anything in case your insurance company takes weeks or months to process clients’ claims. For that reason, you need to evaluate and check the client satisfaction ratings of potential insurers.

The best way to do that is to browse testimonials on their sites, but be careful as some are filtered. For more outspoken reviews, consult social media reviews and online forums. The comments and reviews on these forums are more authentic and frank.

6. Keep Records Currents

Having current records will be invaluable if the unexpected happens and you need to make an insurance claim. First, if you made significant updates to your home after relocating, let your insurer know, as it might affect your property’s replacement cost.

Second, take inventory of all your things. This should include their current value and how you paid for them. Make records through a video camera or picture, and keep them outside your home to reduce the risks of being destroyed when a disaster happens.

The Takeaway

Buying a home insurance policy is like purchasing other types of insurance, and it is key to do due diligence before you make up your mind. If you are still trying to figure out where to start, a professional financial advisor may help create a solid financial plan for the goals and needs of your homeowners’ insurance.

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