How to shop for home insurance

Your home is one of the largest purchases you will make in your lifetime. Which makes it even more important to know you’re covered by a home insurance company that can cover your claim when you need them. 

Automatically we want to gravitate to lower home insurance premiums, but that’s not always the best option. When looking into a policy we should always consider the policy that’s actually right for each of our individual situations. 

Great customer service is always something to consider as well. Being able to contact a live person when you need to is very much a convenience. There are many more factors you’ll want to keep in mind when shopping for home insurance.

What information is needed for home insurance

Before you are able to get an accurate quote you will need to provide various information to determine insurability and other factors. Your home insurance agent may ask the following questions;

What year was your house built? If your home is older it could also come at a higher risk. With higher risk comes higher premiums. Newer homes usually have newer structures, new pluming and electrical, and in some cases safer construction. 

When is the last time you upgraded plumbing and electrical? How old are the components. Is there any risk in the way the home is wired. Is the plumbing in great working condition? Upkeep with items like these prevent risk and keep the home safe. 

How old is your current roof? What kind of roof do you have? Is it the type of roof that creates risk. Is the roof leaking or damaged. Keeping your roof in good shape can help in a lot of ways.

What is the total square footage of the home? Very large homes, have very large spaces. Larger spaces allow more opportunity for injury and overall risk. Insurance in large part is based off risk, if what you want insured is riskier than another option, it may come at a higher premium. 

Have you filed any insurance claims over the last 5 years? Have you ever filed an insurance claim? If you have a history of filing insurance claims you become a client that carries a higher risk of claims. This in turn would make higher rates available for you. 

What is the location of your house? If you own a home in an area with higher theft and break-ins than other cities, you may encounter higher home insurance premiums. The same logic would be used if you need fire insurance and live in an area with a history of wildfires. 

How can I save money on my home insurance rates?

First priority should be getting a policy that covers your exact needs or at least as close to them as possible. Even with that in mind there are various was you can save money on your home insurance rates. 

Ask about higher deductibles. A higher deductible comes with a lower home insurance premium. If you have money put away and can cover the unexpected you may want to look into taking a higher deductible. 

Call Eugene C Yates Insurance Agency. In my opinion the absolute best way to shop for home insurance is to call one of the home insurance agents over at Eugene C Yates. They’re awesome and know how to let you know you’re being heard. 

What sets them apart from going with a company with limited options, is they have access to some of the best home insurance companies in the home insurance industry. This allows them to shop for the policy that’s right for you with all the major carriers. 

Calling Eugene C Yates Insurance Agency today will not only put you in a better home insurance situation but you will become part of an insurance agency that cares about you.

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What is the amount of home insurance that I need?

When the insurance company takes a look at your property they will use a cost estimator to estimate the cost replacement of the home. It’s one of the most accurate ways to calculate the value of what’s being insured. 

When you’re looking into coverage for your home remember the land isn’t exactly what you’re covering. For the most part it’s the physical structure and what’s inside. So if you bought a property on a huge lot but the home is tiny, you might be looking at some pretty reasonable home insurance rates. 

Previously, replacement insurance coverage was referred to as guaranteed replacement cost. In the current times it’s called replacement cost coverage. Replacement cost coverage is when an insurance company designates a certain percentage of any additional insurance coverage on the top of whatever the insured amount is. 

If you need help finding out how much coverage you need or who the best home insurance company may be for your family, give one of the agents at Eugene C Yates a call. They can help you look at all your options and make an informed decision so you know you have the home insurance coverage that is right for you.