Our homes are where we feel most comfortable and secure in this world. As a result, for many, the thought of their home suffering damage is too much to handle. And this is why home insurance is so important. It’s true that insurance can’t make up for the trauma caused by damage to your home, but it can ease your financial burden, making the recovery process much smoother.
But not all home insurance providers are the same. Many will try to pull a fast one on you and either charge you too much or offer you too little. To prevent this from happening to you, here are a few things to keep in mind during your home insurance search.
#1 Get to Know Your Home
To get adequate home insurance, the first thing you need to do is get to know your home. This will make it easier for you to compare different options and to avoid paying for things you don’t need. Some important things to learn about your home are:
- Square footage: Many insurance plans are based on the size of your home. Know exactly how big your home is to prevent providers from overestimating the size of your house and charging you more.
- Year built: Older homes tend to carry more risk, so know how old your home is to make sure you’re paying an appropriate rate.
- Materials used: Some materials are more durable than others, and this means they should cost less to insure. Get a detailed list of what was used to build your home so that you can be sure the provider is giving you an accurate quote.
- Potential hazards: Fireplaces and pools also raise risks, so make sure you have all the details about these types of hazards before shopping for providers.
#2 Determine the Coverage You Need
The coverage a provider offers will depend on a few things, and it can be expanded or contracted depending on your needs. Consider the following options to make the right choice for you:
- Coverage for dwelling: These policies cover the home and nothing else.
- Additional structures: If you have a garage or shed you want to insure, this may come at an additional cost.
- Personal items: Many home insurance policies provide coverage for stolen or damaged items within the home. Before purchasing insurance, make sure to do an inventory of all your personal items to determine their value. This will allow you to make sure you’re completely covered for what matters most.
- Cost of a rebuild: We don’t want to think about it but figure out how much it would cost to rebuild your home. This will help you get an idea if your coverage is adequate.
#3 Compare Providers Based on Coverage and Price
Once you’ve gone through the first few steps, it’s time to start comparing the options out there based on coverage and price. Comparison sites are good for this but be careful because most are associated with a specific provider, meaning their recommendations are biased. WeTrust home insurance offers completely independent, impartial reviews so that you can choose a home insurance provider that will give exactly you what you need at a price you can afford.