Optimizing Your Home Insurance Coverage In a Hectic Market

The increased frequency and intensity of natural disasters in the United States, and the growing concerns with Climate Change have caused insurance companies to react with increased rates and some reductions in coverage. Below are some tips to help make an informed decision when purchasing your next home or home insurance coverage. 

Before the Purchase

Before purchasing a home or home insurance policy, examine the risks. You can enter the home address into a Risk Calculator, like Risk Factor to help look for potential perils. Also, consult with your agent about what insurance carriers could work best, and to check on the carrier's rating from A.M. Best.

Review Your Policy

Shop around for new policies each year, as rates and needs can change. For example, inflation has drastically impacted construction costs, so your existing coverage may not be enough to cover major repairs. Read the terms of your coverage. Make sure your "Replacement Costs" of your home and it's contents are covered. We recommend contacting your agent to review this policy information.

Reduce Costs

Bundling home and auto coverage (among others) is one potential way to get a discount and save money. Getting the most coverage for your money is a priority, so also make sure that you're over insured for perils that may don't affect you. Home improvements, like securing your roof from wind damage or cutting brush back to reduce fire risk will reduce risks to your house and may also deliver some savings on your insurance.

​Contact your agent today to learn more about your policy and explore other options.

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