5 Tips For Getting The Right Home Insurance
You may think getting the right Home Insurance Arnold MO means just calling an agent, giving him your address, what year the home was built, and some details on the property is enough. Does your agent come to your home and take photos? Do you think about telling your agent you have a swimming pool – or do you know if you live in a flood zone?
What if you have an above ground swimming pool and it collapses, flooding your basement? What if your neighbor’s tree falls on your home? Do you have a record of the content in your home and how it is covered by your homeowners insurance?
It is imperative to inventory the contents in your home. Our agents at MJM Insurance® of Fenton can help you identify items in your home that should be recorded as inventory and documented.
If you own your home, contents or personal property insurance will be part of your overall house insurance policy. If you rent, it’s still important to get contents insurance as your landlord’s building policy will not cover your belongings. There are many options when it comes to insuring the contents of your home. Understanding the coverage you need and the pros and cons of the major insurers will help you get the best coverage for the best price.
Below are a few tips when you search for “Home Insurance Arnold MO.”
1. Perform a proper valuation of your contents.
First, your MJM Insurance® of Fenton insurance agent will ask you to estimate the value of your belongings. If you combine contents insurance with a house policy, the contents portion is often valued at a percentage of the house value. If you do not establish a detailed valuation of your assets, it may leave you underinsured or paying premiums that are too high. You should list all your assets and give them a fair market value.
2. Understand the limitations of your coverage.
Regardless of the contents policy you choose, it will not cover every loss situation or every asset. Your MJM Insurance® of Fenton insurance agent will explain the “exclusions or limitations” of your homeowners insurance policy and make so that you have any addtional endorsement to ensure you are covered. The most common mistakes homeowners make are thinking their home insurance policy covers everything and do no seek the services of a professional insurance agent.
3. Do not buy home insurance on price alone.
Beware of the commercials that advertise “home insurance for as little as $10 a month”. These low-cost policies only cover the minimum, leaving you at great risk. Don’t settle for cheap insurance and lose the proper coverage, customer service or timely claims payments. Your home insurance is going to be in place for a long time, so choose a company with a good reputation and a policy that meets your coverage needs. We combine years of experience and top-rated companies and products to provide exceptional service and value to our clients. Our trained, professional staff will do the research, analysis, and shopping for you.
4. Expensive artwork, jewerly, and other “collectables” may need to be insured separately.
If you’re a collector of antiques or vintage items such as sports cards or antique glass, your collection will most likely not be fully covered under a standard contents policy. You may be able to obtain a rider on your policy to cover the collection, or you may have to obtain separate insurance for it. This is also true for large art collections and expensive jewelry. If the collection is worth several hundred dollars or irreplaceable, you should have the items appraised. The appraisal certificate will be required by the insurance company to verify the contents exist. We recommend keeping all your paperwork in a safe location, so that they are accessible in the event of a loss.
5. Shop price but compare ratings.
As we have explained in other blog posts, every insurance company is rated by independent rating agencies. There are five major rating agencies that cover insurance companies, including A.M. Best and Standard & Poor’s. Standard & Poor’s provides ratings for entities that offer different types of insurance products and services including life insurance, property and casualty insurance, annuities, health insurance, reinsurance, title insurance, mortgage and bond insurance. Another rating agency is J.D. Power Insurance, they are your guide to finding which vehicle, health, and home insurers ranked highest in J.D. Power consumer studies.
More information about home insurance for Arnold Missouri can be found at Missouri Department of Insurance. During your search for “Home Insurance Arnold MO,” call an agent with MJM Insurance® of Fenton, we will be happy to assess your risks, shop top rated companies, and find the coverages you need for the best value.