If you aren’t quite happy with your current homeowner’s insurance, there’s a good chance that you’ve thought about shopping around before. But sometimes shopping around and trying to find the best policy might seem like more trouble than it’s worth. One company might give you a great rate but another might charge you hundreds of dollars more a year for what seems to be the same coverage. So how do you know which policy is the better deal?
Whether you’re buying your first home or looking to save on your current policy, shopping around can help you find better coverage at a price that works for you. Shopping around for home insurance doesn’t have to be a stressful or tedious experience! Here are some things to think about when shopping for homeowners insurance in Lebanon, PA, and the surrounding area.
Know What Home Insurance Coverage You Need When You Are Shopping Around
Before you start comparing homeowners insurance quotes, you should have a good sense of how much coverage your home actually needs. This includes the size, age, condition, and cost to rebuild your home, among many other factors.
One thing many homeowners don’t realize is that the market value of their home isn’t necessarily the amount they should insure it for. Your home might be worth $300,000 on the market, but rebuilding that same house could cost a lot less…or a lot more (learn how an insurance company values your home). Knowing what level of coverage you want ahead of time can make homeowners insurance shopping much easier.
You should also consider the value of your possessions, liability coverage and any additional protection your property may need. If you know this ahead of time, it will make it easier to decide which policies are worth considering at all.
Know Important Info About Your Home Before Starting To Shop For Better Home Insurance
Insurance companies consider a number of things about your house when they are determining what to charge for your insurance rates. This information is good to have on hand before you start shopping around to save time and effort.
Some important details are the square footage of your home, the materials used to construct the home, the age of the roof, the type of heating system, and any recent renovations or major repairs you might have had done.
If you have homeowner’s insurance already, it also helps to have your current policy with you. That way, you can see exactly what coverage you already have, and compare it to the new options you’re considering.
When Shopping For Home Insurance, Look At More Than Just The Monthly Price
Saving money is of course of the biggest reasons people shop for homeowners insurance. But you should be aware that the cheapest policy isn’t always the best deal.
For example, you might see a homeowners insurance policy that saves you $300 a year but raises your deductible from $1,000 to $5,000. Those annual savings might not look quite so valuable if your home takes a major hit and you are responsible for paying thousands more toward the claim. Different policies may also cover the structure of your home, your personal property, and other covered expenses differently.
The best thing to do when shopping for home insurance is try to compare homeowners insurance quotes with similar coverage limits and deductibles. This will give you a much better idea of which insurance company is actually giving you the most value and paint a clearer picture of what the best policy for you is.
Pay Special Attention To What’s Not Covered By Different Homeowners’ Insurance Policies
Another important thing to consider when shopping around is what is NOT covered by your homeowner’s insurance. For instance, most standard homeowners insurance policies do not cover damage from floods, and some policies may limit coverage for roof damage or valuable personal items. Homeowners in Lebanon County may also need to consider local risks, such as flooding or sinkholes, depending on the location of their property. Learn more about properties in Lebanon County that are high-risk.
Before you buy a policy, ask your insurance agent about any major exclusions or limitations that could leave you holding the bag for unexpected expenses.
When Shopping Around Look For Ways To Cut Costs On Homeowners Insurance
There are some ways to lower your homeowners insurance premiums without sacrificing important coverage. Many insurance companies offer discounts if you bundle home and auto insurance together with them. Install qualifying security equipment or make certain improvements to your property.
You should also review your insurance periodically, especially if you have recently renovated your home or put on a new roof. Changes to your property can impact your coverage needs and the types of insurance coverage available to you.
Find The Best Homeowners Insurance Policy With Strickler Insurance
Shopping for homeowners insurance does not have to be a complicated process. At Strickler Insurance we help homeowners in Lebanon County and beyond understand their coverage needs and compare policies from multiple insurance carriers. We are a local independent insurance agency, so we can help you find the policies that provide the protection you need and ways to save you money.
Whether you’re buying your first home or want a second look at your current coverage, we’re here to help. We can handle all your home insurance needs, as well as other policies like auto insurance, life insurance, flood insurance, pet insurance, and many more types of personal insurance policies. Contact Strickler Insurance today to get a free quote for homeowners insurance or to review your current policy!
