How much is home insurance, and what is the average cost of homeowner’s insurance? There is no one specific answer as insurance policies come in many different shapes and sizes. The same is true for insurance companies and agents, which can charge wildly different rates for essentially the same coverage. It’s always in your best interest to let our agency shop around for the best deals and for you to ask the right questions in an effort to know what you’re actually getting.
The NAIC came up with a list of good questions to ask an agent while you’re shopping around for quotes. Use this handy checklist the next time you chat with an agent about shopping for a homeowner’s policy:
The NAIC came up with a list of good questions to ask an agent while you’re shopping around for quotes. Use this handy checklist the next time you chat with an agent about shopping for a homeowner’s policy:
- What is the claims history of the home I am considering?
- If I submit a claim, how will it affect my premium when I renew the policy? Could it end up costing me overall?
- How will my credit history affect my premium?
- What does the policy cover? What doesn’t it cover? What are the limits to the coverages?
- How much coverage do I need for my personal property?
- How much liability coverage should I buy?
- Should I buy flood insurance or earthquake coverage? Can an agent help me determine how much risk my home is at?
- What types of water damage are not covered? Is mold damage covered?