Shopping for the very best home insurance policy can be a tedious, time-consuming proposition, but needn’t be, if you’re armed with the necessary information and purpose. When buying Greensboro home insurance, you have a choice of going one-on-one with individual insurance providers or using a broker that has the ability to basically do all the legwork for you and present you with a number of competitive coverage options. Still, it will be up to you to compare these offers and determine which policy seems to best suit your particular needs and circumstances. Here are some things to consider when comparing your Greensboro home insurance policy quotes:
Apples-to-Apples – shopping for homeowners insurance would be so much simpler if all that mattered were premium costs, but all policies are not created equal and it’s important to compare coverage on an apples-to-apples and not apples-to-oranges basis. Things like coverage limits, exclusions and deductibles are items you’ll want to make sure you consider when comparing one policy next to another. Even if one policy has a lower premium rate, it may include less favorable provisions that make the lower premium costs less attractive.
What’s Covered and What Isn’t – make sure you read the fine print to know what exactly is covered in a policy and what’s excluded. Is the replacement of your damaged or destroyed home and personal possessions determined on an actual cash value basis (which includes a deduction for depreciation) or on a replacement cost basis? Replacement cost pays you the money to replace your damaged or destroyed items at today’s costs, without any concern for depreciation.
Financial Stability – when you begin to narrow down your search to a few companies, do some research to determine their financial strength and stability. You need to feel you can trust the dependability of a company – that they’ll be there when you need them and have the funds needed to pay your claim. One widely accepted way to check an insurance company’s status is through A.M. Best Rating Services.
What’s Being Covered? – you should have a complete home inventory of everything in your home and have a good idea of what it would cost to completely rebuild your home in the event it’s totally destroyed. If you own especially valuable items such as artwork, jewelry, guns, furs, coin collection, etc., you’ll need to know what types of limitations each policy has on these types of items.