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The 3 BIGGEST Home Insurance Mistakes People Make with their Home!
BIG Mistake #1-NOT MEETING WITH YOUR INSURANCE AGENT
Homeowners will spend hours with their real estate agent searching for just the right home. Then, they’ll meet with a mortgage professional to review financing options. But when it comes to the insurance, most homebuyers will be too busy to meet with a professional insurance agent to discuss coverage’s, options, and pricing. So make the call. Spend an hour with an insurance professional. You and your family will be better off for having invested the time.
BIG Mistake #2 – NOT INSURING YOUR HOME PROPERLY
Homeowners mistakenly think that the market value (purchase price) of their home is the replacement value (cost to rebuild) of their home. Sometimes, mortgage companies require the higher amount if the homebuyer is financing 100%, but many times the homebuyer insists on the higher coverage. Many insurance agents use sophisticated tools to evaluate the replacement cost for homes in their area. Insurance companies have invested lots of money and research in these tools because they don’t want to under insure or over insure homes. So, if you avoid BIG Mistake #1 you should insure your home correctly.
BIG Mistake #3–ONLY LOOKING FOR THE CHEAPEST POLICY
Most homeowners only look for the lowest price when choosing their homeowner’s insurance policy. Unfortunately, that’s what some insurance companies want you to only look at. When you’re insuring your home for hundreds of thousands of dollars, does $50 or $100 cheaper policy really matter that much? If you have a major claim like a fire, do you want your agent to be there to help you, answer your questions, be your advocate, and hold your hand? Most people do! That’s why it’s important to not make BIG Mistake #1. So visit with your agent, ask what they will do for you, get their advice, assess their staff, because these are the people that will be there when something happens.
For more information about Richard Morris and his insurance agency visit www.home-ins-connection.com. Richard and his team have over 15 years experience and can help you protect your most valuable assets. Quality insurance, blended with excellent service, puts our clients on A Sure Foundation. Contact Richard at 602 327-1188 (his personal cell phone) or via the above website.
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