Insurance specialists say homeowners should be ready to do their research and some leg work. Consumers should have an understanding of the insurance carrier's reputation and general regard towards its policyholders. They should also know about the company's policies and their fine print.
Consumers can already get a good idea regarding what an insurance company is like just by spending an hour researching online. Many federal state insurance department websites have comparison tools that you can use to get information on rates. There are also consumer reports that publish ratings about insurers.
Know the Inclusions and Exclusions
People planning on getting home insurance should think about their distinct needs and possessions, whether they're antiques, heirloom paintings, jewelry, or machinery. Most home insurers will insure whatever the policy holder wants, but they might also need to write a separate rider or declare the value separately.
Aside from determining additional coverage or riders, insurance showers should also ask or read about the policy's limitations or exclusions. It's a good idea to ask for an explanation of the exclusions in writing.
Check for Complaints Against the Company
Home insurance shoppers should also check insurance companies against sites like the National Association of Insurance Commissioners or the state's insurance department. They should look for any complaints that have been lodged against a specific insurance carrier. Aside from checking how many complaints have been made against said carrier, homeowners should also see if any of those complaints have been upheld, as it means they have merit.
Look How Insurance Claims are Handled
It's a good idea to know how an insurer handles claims and whether they have a personal touch. Insurance companies have different strategies when responding to claims, especially after a major event. Consumers should check who would be their primary contact, whether they can get help with emergency expenses and whether they will receive money upfront or get reimbursed later.
Consumers should never be afraid to ask questions or do research. It could also be beneficial to talk to an independent insurance agent, since they are in a unique position to talk about the pros and cons of various insurers as well as explain in detail different policies and their prices.
At Brad Spurgeon Insurance Agency Inc., we put our clients first by offering them policies that they can afford. Learn more about our products and services by calling our agency at (409) 945-4746. You can also request for a free quote by clicking here.