If you’re a home owner, you’re probably wondering what’s the best homeowner insurance policy? Well, the answer is simple: the best one is the one that’s best for you. Not all policies are created equal and a more expensive policy does not always mean more coverage, just like an inexpensive policy may not cover everything you need.
So how do you find the best homeowners insurance policy? Here are a few things to keep in mind when you’re looking for a home insurance policy in Sacramento or throughout California.
Home insurance is all about statistics
You and your home are basically a collection of risks in the eyes of the insurer. The policy premium will be based on a set of factors, including what your occupation is, what you own, where your house is located, how big it is, etc. Each company will have its own way of determining just how risky your situation is. The riskier it deems you, the higher the home insurance policy premium will be.
Each insurance company is different
Although each insurance company offers the same basic coverage, each company is different. Their algorithms to determine risk will be different. How they handle the claims process will be different. The best way to find the best price is to do some comparison shopping. It can be time consuming, so an independent insurance agency, such as Bozzuto & Co. Insurance Services, can do the comparison shopping for you. For example, we are authorized to sell insurance for insurance industry leaders. Just check out our insurance partners:
Know your home
You need to know how much your home is actually worth. More than 60% of homeowners in the United States are underinsured because they do not have enough coverage to replace the house in case something does happen. Replacement value is not the same as market value – replacement value is the cost of rebuilding the home, not how much someone would pay for it. Due to rising building costs, it might actually take more money to rebuild your house than it did to buy it. Of course, having a higher amount insured will mean an increase in insurance premiums, but the difference can mean thousands of dollars when the time comes.
Besides rebuilding your home, you’ll need to know how much it will cost to replace everything in your home, too. Most policies cover a modest household, but if you have special collections that are worth a significant amount of money, you’ll want to get additional coverage to insure those assets are safe.
Be safe, save money
You might get a reduction in insurance premiums if you have certain safety measures in place such, as a home security system, deadbolt locks and other burglary prevention measures.
Listen to the recommendations
In the end, a happy customer should be the end goal of an insurance broker. It is our goal! Having a thorough policy that keeps you protected is the primary focus of the insurance agent.
For more information on homeowners insurance please contact us today or fill out our FREE online request form!