Friday, April 17, 2015

Picking the Right Homeowner's Insurance



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Hey there, today I want to talk to you about how to choose the right homeowners insurance policy when you buy a new home. A lot of folks forget about this expense, so I called one of my local insurance experts, Peter Stockwheel at Allstate, and he shared with me 4 key things to look for when buying insurance. Here they are:

1. The cost of insurance is based upon the value of rebuilding your home today. It's not based on your sale price, and the rebuild cost far exceeds the buying cost.

2. Your policy may not be the same as your neighbor's. Your insurance is based upon the risk factors the insurance company designates for your home vs your neighbors.

3. To reduce the cost of your premium, you can increase your deductible. If you ever file a claim, you will have to pay more out of pocket expenses though. 

4. Understand the financial stability of the insurance agency you pick. When you do business with a less than reputable company, they may not be able to fulfill your claim. Make sure you are picking a strong company.

If you have any questions, I'm always here to answer them. Give me a call or send me an email, and we will be in touch right away!