Here at Krog Insurance, we can help you get the best home insurance policy for your needs. Our independent insurance agents can review policies from multiple carriers, explain the inclusions and exclusions and help you determine which would be right for your needs. To help you understand home insurance policies, we’ve included some information below and would like to encourage you to keep reading to learn more.
Determining Home Insurance Eligibility and Cost with Help from an Independent Agent
When it comes to getting the right home insurance policy, the cost of the policy and your eligibility are typically the two primary concerns.
Monthly Premiums
For homeowners, this means the monthly cost of the policy must fall into an affordable range, according to the family budget. The good news is that different insurance agencies charge different amounts for the same or similar coverage when compared to a different insurance agency, and our insurance agents at Krog Insurance can look up the home insurance policies of multiple insurance agencies to help you find a price you can always afford.
Home Insurance Eligibility
For insurance agencies, the concern is your risk factor for filing a claim or filing a high dollar claim. While there are insurance companies that accept high-risk homeowners, the best prices aren’t typically available if you are considered high risk for filing a claim. Typical items that could result in paying a higher price or being disqualified from getting a home insurance policy include having a home that is in extreme disrepair or doesn’t meet basic safety codes, living in an area with a high crime rate, letting previous policies lapse and filing too many claims on a policy.
What Home Insurance Covers and Doesn’t Cover
Home insurance policies cover damage to your house and any outbuildings on the property, which could include a garage and shed, and it covers your personal belongings, like electronics, your clothes, dishes, jewelry, and any collections you might own. The coverage also pays for any claims that are filed against you for accidents or injuries that occur on your property to individuals who do not live on the property.
While home insurance typically covers damage caused by certain weather events as well as theft and vandalism, it does not cover damage that occurs due to flooding or earthquakes. Those two weather events require separate policies. Also, home insurance typically covers a home office, but it does not cover any businesses or business equipment that you may have on your property. If you own a business and operate it from your property, you may need additional insurance policies to ensure that you are fully covered.
Customizing Your Home Insurance
When it comes to getting the best home insurance for your needs, you can have your policy customized. This means that you can choose your deductible amount to either assume more or less financial risk, and you can adjust the policy limitations. For example, if you have jewelry that is worth more than the amount typically listed on the policy, you can have the coverage amount for jewelry increased. You can also add replacement cost coverage for your home. Replacement coverage is designed to pay the full amount of any repairs. For example, if your roof is damaged in a storm, replacement coverage would pay for the installation of a new roof without the typical deductions for depreciation or the application of your deductible. However, replacement coverage may not be available in all areas from all insurance companies, so it is important to talk about this with our independent insurance agent. Contact us to get a homeowners insurance quote.
