Your home is your castle! It is a very valuable castle, according to Zillow.com. Median home values for the Ozaukee County area topped $436,127 in 2019 and $167,500 median home values in Milwaukee County. No matter what the value and where, your home is an important asset (financially AND emotionally), more than worthy of you finding the best home insurance coverage possible for your home.
Finding the best home insurance policy can be a daunting task. Fortunately for you, an independent insurance agency like Leonard Insurance can help you locate the right coverage. This, of course, means you should understand the factors that are considered when placing insurance on your home and how an independent insurance agent works to present those factors on your behalf for the best policy.
These factors include:
- Disqualifications (you as an insurance risk)
- Policy Information (for different companies to compare)
- Pricing (how working with different insurers get you the best price)
- Insurance company (comparing what companies have to offer)
What Disqualifies You from Coverage
A disqualification is a factor that can prevent you from getting coverage from a particular insurer, but not necessarily from all insurance carriers. There are several disqualifying factors that an underwriter, the person assessing risk for the insurance company, weighs before recommending if you qualify for the best home insurance policy.
These disqualifying factors include:
- The presence of criminal history pertaining to insurance fraud and acts of dishonesty;
- A record of filing insurance claims;
- A history of lapsing coverage because of nonpayment of premiums;
- The presence of hazardous conditions in the home; and,
- A home that is in need of serious repair.
How to Evaluate Policy Information
Qualifying for the best home insurance policy requires an evaluation of the companies willing to provide you with coverage. You should know that not all insurance policies are the same. The benefits they offer will vary. It is important, when meeting with your independent insurance agent, to ask for a copy of the sample policy. It is in the sample policy where the home insurance Coverages A–F are explained. Looking at the sample policies with your independent agent can help you understand what you are receiving and make the best choice for your home.
What Determines the Price (Premiums) You Pay
The price you pay for the best home insurance coverage is based on the risk or potential financial loss you represent to the insurance company. If you pay premiums regularly, do not lapse coverage, and maintain your home in top condition, your premiums should be lower than those of an individual who does none of these things. The premiums differ from company to company but the benefit of working with an independent agency is that you get to compare several company prices, not just one.
Comparing Insurance Companies Objectively
Finally, it is appropriate to evaluate the financial strength of the insurance company you choose for your best home insurance. It is equally important to understand that the company you choose to work with treats and pays claims fairly when presented. Rating services like A.M. Best providing ratings that are useful in objectively evaluating different insurance companies. This is information that is at the fingertips of your independent insurance agent.
How Leonard Insurance Can Help Find the Best Home Insurance
Receive multiple quotes for your best home insurance coverage by contacting Leonard Insurance Services. Make an appointment to discuss your home insurance needs with a qualified independent insurance agency at Leonard Insurance.