Homeowners insurance is important when it comes to protecting your property from damage. However, many people select a policy without first researching their options or considering the coverage that’s best for their home. Failing to purchase the right plan can cost you hundreds, if not thousands, should an accident happen on your property. Allstate Insurance Companies in High Point, NC, shares a few common mistakes homeowners make when purchasing an insurance policy so you can avoid them yourself.

Not Purchasing Enough Insurance 

One of the worst mistakes you can make when purchasing insurance for your home is underestimating the size of the policy you need. Under-insuring your home may keep your premiums down, but it will leave you unprotected if your home is damaged. Before you purchase insurance, understand how much your home and property are worth. Keep in mind that the value might be higher than your mortgage.

Assuming Your Policy Covers Everything

It’s easy to assume your homeowners insurance policy covers all types of damage to your property; after all, that’s why you purchased it in the first place. However, most plans won’t protect your home from flood damage or earthquakes. If you’re concerned about any of these natural disasters, you’ll need supplemental coverage to fill in the gaps.

Preparing for a Single Deductible 

Your car insurance has a single deductible you’ll need to pay when you file a claim. While it would be nice if your homeowners policy had the same option, it doesn’t. Each plan has a different deductible for the various claims. Before you buy a policy, understand the rules and rates, and always make sure you have enough cash on hand to cover the cost of the deductibles.

Whether you’re looking to purchase your first homeowners insurance policy or want a quote for a revised plan, Allstate Insurance Company will help. Agent Dewey Beckner prides himself on finding the coverage clients need at a price they can afford. Visit him online to learn more about your coverage options today. To schedule an appointment or receive a no-obligation quote, call (336) 884-5636.