For first time home buyers, in particular, navigating the homeowners' insurance market can be an intimidating experience. What type of policy do I need? Will I use it? What does my mortgage provider require? How will this coverage benefit me over time? With all the questions surrounding homeowners' insurance for the average homeowner, it simply makes sense to understand insurance a bit better before you opt for the right policy for your home.
When you make an important purchase, asking questions should always be encouraged. The right insurance agent will be happy to answer your questions, and happy to help you to understand your policy completely before you sign on the dotted line.
What Questions Should I Ask?
It can be tough to think of the right things to say on the spot, and this rings true for insurance questions as well. Knowing the questions to ask ahead of time can help you to make a more informed decision you can feel confident about. The questions you should ask your insurance provider include:
- What does this policy cover, and what doesn’t it cover? – Like with any insurance policy, coverages will differ between policies and plans. Before shopping for homeowners insurance, set aside a bit of time to lay out the things you absolutely want your policy to cover, and ask questions to make sure your policy ticks off every box on your list.
- What type of claims history does my home have? – Finding out the claims history on your home can really let you know what coverage you need and what you can do to improve your home for the future. If you find out that your home has had a few sewage-related claims, or a leaky roof claim, you can make sure your policy covers these areas while you repair any plumbing or roofing issues that may cause issues in the future.
- How are claims handled? – Knowing the claims process ahead of time can save you additional stress in what is likely an already stressful time. If disaster strikes, you’ll know exactly how to go about the process to ensure your claims are filed correctly and coverage will be received. Jot down the claims process and choose an insurance provider that has a claims process that works with you.
- Can I save? – In some instances, you may be able to save on your homeowners' insurance by installing a security system, replacing the roof, or working from home. Before choosing a policy, see if there are any discounts you may be able to take advantage of.
The Right Insurance For You
When you ask the right questions, you can rest assured you’ve chosen the right insurance provider for you and your home. Our insurance agents are always ready to answer your questions and clear up any confusion you may have surrounding your policy or homeowners' insurance in general. If you’re looking for the right policy for you home, contact us at Panorama to see what we can do for you today.