If you are a new homeowner, renting your first apartment or moving into a new condo you are most likely shopping around to find the best home insurance. If you are an existing home owner, tenant or condo owner then you may be asking yourself one important question…how do I know if I have the best home insurance?
The answer is very simple. The best home insurance is comprised of many different aspects from your comfort level with your insurance company to the price of your insurance premiums and the quality of your home insurance. If you are happy with all of these aspects of your home insurance then you can say that you are getting the best home insurance.
Do you trust your home insurance company?
Just like all financial products you have to be comfortable with the home insurance company that you use. If you are shopping around to find the best home insurance on the market then start with a trusted company, a long standing company or your financial institution.
I know that sometimes people feel the best home insurance is the company with the lowest price, but that is just not true. A good insurance company is one that you can trust and a company that will be around in 10 years.
Are you getting the best price on your home insurance?
The only way to know if you are getting the best deal on your home insurance is to shop around. Ask your family and friends who they use for their home insurance and talk about it with your coworkers. Getting a recommendation is the best way to find the best home insurance.
When you are shopping around to find the best home insurance get three insurance quotes for the exact same type of insurance. Call insurance companies or visit their websites to get a home insurance quote and when you find the lowest price for the same amount of insurance coverage you know that you have most likely found the best home insurance.
Is your home insurance quality insurance?
One of the biggest mistakes that people make when shopping for home insurance is purchasing too much coverage. You are getting the best deal possible if you are getting the lowest price on the coverage that you need and you are not paying a penny more than you have to.
Insurance companies will ask you about the make and model of your home but it’s up to you to determine the value of your personal contents, valuables and belongings. A good way to determine how much insurance you need is to take an inventory of your home contents and your personal belongings.
Gather up your receipts, take photos, make a list or take an inventory by video. This will give you an idea of the value of everything inside your home including home furnishings, appliances, electronics, jewelry, furs, art and your clothes.
Insurance companies will give you the current market value of your items in case they are ever stolen or damaged due to an unfortunate event.
Which home insurance company do you use?
Photo by alan clever