Evaluating Your Home Insurance Company
When you're looking for a home insurance company, be aware that there are lots of companies to choose from--and they
don't all offer the same rates or provide the same level of service. To evaluate your present insurer or a prospective
new one, be sure to understand completely the policies that the companies are offering and get answers to these questions:
Is the insurer reputable? Check with your state's department of insurance to make sure that each home insurance company
you're evaluating has a good reputation in the industry, with good customer service and prompt claims payments.
This information is also available from major rating agencies such as Standard & Poor's, Moody's, and A.M. Best.
Does the insurer cover damage for standard perils and liabilities? A standard homeowners insurance policy provides coverage
for damage to your home caused by theft, fire and lightning, smoke, frozen pipes, and ice and snow. It should also provide
coverage for liability claims, medical payments to third parties, and legal costs if a lawsuit is brought against you.
Don't deal with a home insurance company that doesn't offer these coverages as standard.
What about Discounts?
Does the insurer offer discounts on premiums? If you have a home security system (e.g., fire, burglar, emergency), let your home
insurance company know. Most reputable carriers offer discounts for such safety features. You may also qualify for a lower insurance
premium if you live near a fire department or hydrant, own a newer home or a home built of fire-resistant materials, or get your auto
insurance from the same company.
Do I understand what I'm buying? Read the policy carefully before signing on the dotted line. It should tell you who and what is covered,
what coverage exclusions and limitations apply, when coverage begins and ends, how much coverage is provided, how much you'll pay for coverage,
and how you report a loss or file a claim. Ask your home insurance company to explain any terms that are unclear.
Don't wait. Let us find you the right car insurance, home insurance, health insurance, life insurance or long term care insurance—today!
