4 Important Questions to Ask Your Insurance Agent Before Buying Homeowners InsuranceInsured by Carver
4 Important Questions to Ask Your Insurance Agent Before Buying Homeowners Insurance
Buying homeowners insurance is a daunting prospect. You want the best rates possible but also need to make sure that you get the necessary coverage to protect your property and assets, which can be easier said than done when there are so many factors to consider when shopping for insurance.
This is where an insurance agent helps. They have all the important information about the various homeowner’s insurance policies available, so be sure to take advantage of this service to make it easier to find the best insurance for your home.
Too many people don’t bother asking enough questions and find themselves disappointed with their policy, so be sure to ask your insurance agent these 4 important questions!
What is the Replacement Cost of My Home?
Homeowners insurance will cover part or the entire cost of replacing your home should it be lost due to a disaster like a fire. So, be sure to ask them what the replacement cost of your property is and how they calculate it.
Insurance companies use various factors to determine this, including cost of construction materials, year of construction, windows, foundations, square footage, and construction style. This is used to determine how much it costs to rebuild the property to current value and quality, which in turn impacts your coverage costs.
Is Water Damage Included in the Policy?
Always determine if water damage is included under the policy. Whether this is included or not varies, with most companies providing coverage for accidental water damage occurring inside the property, such as a burst pipe or leak in the roof.
However, it is important to understand that certain types of water damage won’t be included, so you should always know what is included under your policy. For instance, most won’t cover you for flood damage, pipe backups, and generally anything caused by poor maintenance.
What Personal Property is Included in the Insurance?
Personal property insurance is the coverage for all your belongings should your home face a covered loss. Basically, it’s the cost of replacing furniture, appliances, clothes, electronics etc. Your contents will be covered a percentage of your dwelling coverage amount under your homeowner’s insurance, with most providers offering between 50-70% of the dwelling coverage. For example, if your dwelling limit is $400,000, your personal property would be covered up to $200,000 - $280,000.
Be certain to determine how much personal property is covered in the insurance. Your agent may require a detailed inventory from you to establish this.
What is the Liability Coverage?
Should someone be injured in your home or on your property, you could be held liable for this, so you may end up needing to pay the costs of medical bills, legal fees, and other damages. While you never want to get sued by someone that’s visited your home, it is certainly possible, which is where your liability coverage comes into play.
Ask your agent how much the policy covers in liability insurance, which is the maximum amount they pay towards any damages you may face.
Carver Insurance Services, Inc. is a local insurance agency that has been serving residents and small businesses in Murrieta, Temecula, and surrounding areas since 2004. Started by Diana Carver; a second generation insurance broker with over 25 years experience, when after working for several insurance brokerages, Diana felt the need for a brokerage that was efficient and progressive, while still keeping that “hometown” feeling.
Carver Insurance Services, Inc.’s goal is to help you determine what insurance needs you have, meet those needs, and then help you prepare to meet future goals. The Carver Insurance Services, Inc. Family and its agents would love for you to stop by one of their two convenient locations for a free insurance quote or just to say, “Hello!”
For more information, give Carver Insurance Services, Inc. a call today to talk to a friendly, helpful agent.
Carver Insurance Services, Inc.-Temecula
33321 Temecula Parkway suite #102, Temecula, 92592