5 Tips for Choosing Home Insurance

Posted on Friday, May 6th, 2016 at 3:35pm.

Five Tips for Choosing Home Insurance

Your home is one of your biggest and most important assets, so choosing the right insurance is one of the best things you can do as a responsible homeowner. With so many policies out there to choose from, finding the right one for your needs can seem daunting. A little research can help you secure the best policy for your home. Remember these five tips when it’s time to choose your homeowner’s insurance:

1. Shop Around- Take the time to review each policy and quote thoroughly; don’t be afraid to ask questions! Use your knowledge about your home and neighborhood to help narrow down the best option for your needs. The customer service provided by a company or insurance agent is just as important as the price of your policy. You will mostly likely deal with this company or individual in a time of crisis, so a trusting relationship is necessary. Be sure to review your policy every year and look for opportunities to secure a better rate for your insurance.

2. Know the Value of Your Home- An estimate or guess won’t be enough when it comes to your homeowner’s insurance. In the case of damage or loss of your home, you want to be fully covered. When it comes to insurance, the value of your home doesn’t just mean the structure, but also all of your personal belongings, including furniture, jewelry, and electronics. Research the cost to replace or repair important items in your home, and work with your insurance agent to factor them into your policy.

3. Reduce Your Premium- One way to achieve savings on your homeowner’s insurance is to make small improvements around your home. Some companies offer discounts for homes with active security systems. If you have a pool, installing a secure cover or fence around the perimeter can yield a small discount. While these won’t take down the cost of your policy significantly, they can return small savings, as well as grant you peace of mind.

4. Keep Up Your Home Maintenance- Home insurance companies want to insure properties that are in the best shape possible and least likely to see regular claims. Regular home maintenance will not only keep your home running smoothly for years to come, but can possibly save you money on your insurance. Conduct regular inspections and repairs for big ticket items in your home, especially your HVAC and appliances.

5. Know the Process- If you find yourself in an emergency situation involving damage or loss of your home, the last thing you want to worry about is searching for the information to file a claim. Save the contact information for your insurance agent or company in a safe place that you can access anytime. Consider leaving a copy with a friend or family member you trust. Ask your insurance agent about the ways you can file a claim. A little preparation now can save you time and stress in the face of a future tragedy.

If you’re in the market for an Austin area home, our agents are Austin real estate experts. Contact us today for answers to your questions about buying or selling a home in Austin.

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