Owning a home is a huge responsibility, one that comes with many costs, from repairs and maintenance to clearing up after a disaster or calamity. Everyone you talk to will recommend that you get a home insurance policy, but no one can seem to agree on the best, most reputable insurance company with which to go. If you are currently looking around for a home insurance company, here are some must consider facts you should know to tell if they will give you the best service possible.
1. Do They have all the Appropriate Paperwork?
You might think all insurance companies are the same, but a business must be registered in your state to offer insurance services. A home insurance company in Florida will be accredited on the Florida Office of Insurance Regulation’s website, in a list that is updated regularly and kept very current to reflect active members of their chamber of commerce.
There are also a few independent organizations that will gather the reviews and experiences of other consumers like you to help you make better decision. It is well worth your time to go through reviews and rating to see if they will be a good fit for what you anticipate your needs will be to find the home insurance company.
2. What is the Claims Process Like?
You can go back to those independent researchers to see a customer’s experience and satisfaction with the claims process with your preferred company. You can also call the home insurance company directly and ask them to walk you through the claims process. Ask how they would manage a claim and come to a settlement. It might be an involved process, but it also may involve unique coverage that your plan can contain.
Going over independent reviews is a great option because you get unbiased opinions and real life experiences regarding home insurance companies. However, if you have some unique parts of your insurance coverage plan, it is beneficial to use a digital insurance agency where you can save up to 45% on a customized plan that fits all of your needs, and most importantly best protects your home.
3. Compare Rates
Home insurance is similar to car insurance or health insurance in that you want the most amount of coverage, to take care of all that could happen, but you also want to get the best deal possible. For this reason, it is recommended that you shop around before making a final decision, comparing not just the rates but also the coverage options and how well they are regarded in the community, using a digital insurance agency.
It is important to get perspectives of all companies, so you may need to do a little independent research of your own. When looking at reviews for home insurance companies, focus on those left by people who have been customers for a long time, in good standing. They will present a more fair view than those who have not been there long, or are often in possession of delinquent accounts. Using a keen eye to distinguish reviews from customers in good standing versus those who are leaving malicious reviews is a sound strategy to get an unbiased picture of the home insurance company.
4. Do They Have the Right Coverage for You?
If you live in an area like Florida, that is often besieged by natural calamities or disasters, having coverage against it will likely be in your policy automatically. However, for more personal coverage, or for policies that will cover a more unique situation, it will be a good idea to check into what exactly they do cover. You can get information by reading reviews as well as by contacting the companies directly and discussing their coverage policies.
If you live in an area that is regularly flooded but has a history of other natural disasters, it may not be worth your while to pursue other forms of coverage, but the truth is you never know, and they say that you can never be too careful for a reason. If you are particularly clumsy or have a habit of damaging things, consider a home insurance policy that has a lot of coverage for things that are either intentional or not guided by a higher power.
5. Can they Afford Possible Claims?
A quick Google search will tell you the home insurance company’s rating in the industry as well as shed some light on the financial viability of the company. A company’s rating is based on their size, so a small mom and pop shop can be rated as well as a huge, multinational insurance conglomerate. Companies that specialize in commercial spaces will have a different approach to claims than a smaller company that specializes in residential real estate.
If you want to go with a reputable company, making sure they are financially healthy enough to take on your business is a crucial step. A digital insurance agency can give you an idea as well as can different reviews from independent consumers, but the rating of the company is compiled by various government agencies, all working together to bring you the most accurate information that they have.
Whichever home insurance carrier you go with, be sure to read a lot of reviews of their performance. Customers can give you a fair and unbiased account of their rates, what their coverage entails and how convenient (or not) the claims process will be. You will want to find a company that can cover all you will need at an affordable rate and with a relatively painless claims process. Having a digital insurance agency on your side is key to picking the best home insurance company, at the lowest cost. Lastly, to ensure that the home insurance company you go with is a reputable choice, you will want to do your own research into the financial stability of the operation.