When it comes to home insurance, selecting an affordable policy that meets your property’s unique needs can be a bit daunting. The search doesn’t have to be if you know what to look for. Here are a few do’s and don’ts to keep in mind before choosing coverage from a home insurance agency.
Ask about discounts you may qualify for.
Most home insurance companies offer a number of discounts to help lower premiums. From installing security and safety systems to smoke and carbon monoxide detectors, there are many rewards. There are also discounts for policy renewals, automatic monthly payments, and having multiple plans with the same carrier. Be sure to ask your home insurance agency about all of the discounts you may qualify for.
Know whether the policy covers replacement or market value.
If your home is damaged beyond repair, you’ll want to know the property’s value coverage. Many standard policies will cover the market value, which is defined as the house’s replacement cost minus any depreciation. The total replacement value is the house’s current market value minus depreciation. Find out which feature is listed in the home insurance policy and whether there is an additional cost for the total replacement option.
Forget to protect certain specialty items.
Personal possessions, such as artwork, high-end jewelry, and musical instruments, are not typically covered by home insurance policies. You will likely need additional coverage to protect these items from damage and theft. If you’re unsure about which valuables are covered, speak with a representative at a home insurance agency. They will gladly provide a list of standard items covered in most plans.
Skimp on protecting your home.
Your house is probably the biggest financial investment you’ll ever make. While it may be tempting to get the most affordable policy, the coverage might not offer comprehensive protection. Protect your home and property with quality home insurance. Make sure it covers damage, theft, liabilities involving guests, and other perils. If you live in a flood or earthquake zone, be sure to take out additional coverage, as these natural calamities are not covered in standard home insurance policies.
With the right type of coverage, your house will be protected from the unexpected. Since 1986, Dunlap Agency in Fairbanks, AK, has been the area’s premier provider of customized home insurance policies. If you’re in the market for new coverage or would like a review of an existing plan, call (907) 456-5202 today. You’ll also receive a free, no-obligation insurance quote. Visit the home insurance agency’s website to learn about the full suite of policy choices, including renters insurance and coverage for recreational vehicles.