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January 28, 2016

5 Things You Need to Know About Home Insurance

Buying a home is an exhilarating experience. Finally getting the keys after saving up for the down payment, the offer, the counter offer, the inspection, and closing is such a relief. Now that you’re officially in the homeowners club, it’s time to protect your invest. Whether it’s your first home or your third, there’s a few things you need to know about home insurance.

Know what it covers– Not all policies are created equal, so make sure you know exactly what you’re covered for and how much you’re covered for. You’d be shocked by the number of people who are either paying for more coverage than they’ll ever need or severely under-protected. Make sure you let your agent know what your home is worth and how much the items inside are worth. If your home has any special features, like a pool, your agent will probably need to know about that as well.

Know what you’re not covered for– Living in Oklahoma you definitely want to know if you’re not covered for earthquakes. Another thing you want to know about is water damage. This varies from policy to policy so make sure you know if you’re not covered for something like groundwater flooding.

Know what voids your policy– This is great advice for avid DIYers and HGTV fanatics. Chip and Joanna might make it look easy, but home improvements can get ugly in a hurry if you don’t know what you’re doing. So before you decide to gut your bathroom, make sure your policy covers you if you accidently flood your house.

Know what can lower your premium– On the other hand, most insurance companies have a list of improvements you can make that will lower your monthly premiums. Almost every company will give a small discount for installing a home security system. Anything you can to lower the risk of an incident at your home might get you a discount.

Shop around– How do you know if you got a good deal if you get one quote? Shop around a bit and see who can make you the best offer. This process can be time-consuming, which is why All American Insurance Agency partners with more than 30 companies to find the best policy for you. Let us do the shopping so you can do the saving.

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