THURSDAY, OCTOBER 20, 2011
If you thought that hunting for the perfect home in Kentucky was difficult, then you may be surprised at how difficult shopping for home insurance can be as well. Many first-time buyers end up buying either something more or less than what they need, but you can easily avoid such rookie mistakes with the tips below.
 What kind of protection do you need?
You probably already know what kind of insurance you’ll need based on Kentucky’s weather and the likelihood of, say, having a storm or earthquake in your area. But you also need to consider other threats that home insurance can protect you from.
- Personal Property – Home insurance can include coverage for all types of damage incurred by your personal property. This may be due to trespassing, theft, vandalism or a similar crime.
- Guest Medical Protection – In case something happens to a guest in your home and he or she decides to charge you for medical expenses, this will help you cover for it.
- Additional Living Expenses – Think of this as having money to spend for a temporary home while your house remains uninhabitable due to an incident that is covered by your insurance policy.
Know the Difference between Limit and Deductible
A lot of first-time buyers often confuse the two, which then causes them to purchase an insurance policy that isn’t really suitable for their needs.
Deductibles are the maximum amount that you have agreed to pay for damages incurred in your property regardless of who is at fault. Anything excess that amount will then be covered by the insurance firm.
Limit refers to the maximum amount that your insurance firm will pay out. The higher your limit, the higher your monthly premiums will be.
And just in case you need reminding, premiums refer to the agreed amount you will pay either by installment or with one lump sum payment in order to purchase your insurance.
Find Out About Their Claim Processes
What are the steps that the insurance company requires you to take in order to file a claim? When considering the claim process of a particular insurance firm, it would be ideal if you can check for online reviews to learn what previous or existing customers have to say. Does the company get mostly positive or negative reviews?
No matter how low their rates are, if they are notoriously difficult to transact with when it comes to filing claims, then you’re better off signing up with another insurance company.
Be sure you know all there is to know about your Louisville homeowners insurance by asking the agents at Claude Reynolds Insurance. Find out how much we can help you save on your home insurance!
By Matt Reynolds - Google+
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