If you are going to buy a new home soon, then you will also likely be in the market for a new insurance policy. While getting a homeowners' policy for your new house is a must, you should also realize that you have multiple options available to you. Yes, the bank you are dealing with might suggest a particular company or type of policy, but you are also free to look around and get the policy that is best for you. Here are a few tips to keep in mind when shopping for home insurance that will help you save a few dollars and get the coverage that you need.
Find the Right Agent
While you will certainly want to get down to the fine details of the policy eventually, the first step you should take is to find a home insurance agent or company in your area that you feel good about. You want to look at things like online reviews to get some feedback from previous customers' experiences. If they had to file a claim, how smooth was the process that followed? In other words, you're not just looking for a policy. You are looking for an agent that will go to bat for you if needed.
Inquire About Discounts for Preventive Actions
Many home insurance policies provide a discount if your home is outfitted with certain safety features. Some of these might be spelled out in advertisements, but others might be buried in the fine print. Ask your agent about discounts for things like smoke detectors, a burglar alarm system, or installing a fence around the property. A good agent should volunteer any information he or she can think of that will help you get a decent discount. It might be worth it to install one of these safety mechanisms on your property if it will save you money on the policy in the long run.
Make Sure You Understand All Exclusions
Every homeowners' insurance policy will have some standard exclusions. For example, your home might not be covered in the event of an earthquake, or a bad repair job that is the fault of the owner. These exclusions should all be written out somewhere in the contract, but it can be a lot of information to go over. Sit down with your agent and go over these items one by one. You don't want to end up voiding part of your coverage because you did something you weren't supposed to.
When searching for home insurance quotes, it pays to take your time with the process. Start Reach out to a local insurance company, like East Tennessee Mutual Insurance, for further information on their policies and rates. Then, go over the policy and look for any additional opportunities to save some cash that might not be immediately apparent. Get all exclusions clearly identified at the start so there is no confusion later.