Considerations When Buying Homeowners Insurance

homeowners insurance marion, harrisburg, eldoradoHomeowners insurance – What is really covered by your policy?

So, you are shopping for homeowners insurance to protect your home and the assets in it. When comparing policies and getting quotes, it is important to find out exactly what you are paying for. Is water or flood damage covered or is this a separate policy? Is damage to property which is ruined if a burglar breaks in covered? What about damage to the property from fire or other “acts of God”? Before you settle on a policy, make sure you ask the right questions and learn what your homeowners insurance policy truly protects.

What should you ask when getting quotes?
Far too often homeowners simply presume things are covered rather than asking the questions to find out. So, how much is truly covered by your policy and is a basic homeowners insurance policy enough? Before settling on an insurer and policy coverage, some questions to ask when getting your quotes include:

  • Is water damage covered? If not, how much water and flood coverage is required where I live?
  • Are “acts of God,” covered? Damage from fire, lightning, heavy wind gusts, etc. Make sure you find out what is and what isn’t covered, so you can buy incidental coverage or supplemental coverage.
  • What is the limit or max cap the insurer will pay out?
  • If a burglar breaks in and damages property when trying to escape, is such damage covered (in addition to the items stolen)?

This is not an inclusive list of questions you have to ask, but does give you a basic idea of what is, and what isn’t covered by your policy. And, if necessary, it allows you to purchase supplemental coverage, and additional damage coverage on your property, to avoid huge out of pocket expenses in the event something like flood damage or water damage from melted snow occurs.

Finding the right policy
It isn’t as simple as calling one or two insurers and asking a few questions when generating quotes. In addition to calling between three to five insurers, you also have to make sure you are dealing with a trusted insurer. Inquire about discounts for bundled policies, for loyalty programs, and payout limits. Further, you have to purchase a policy from a trusted insurer and one which pays out immediately in the event of damage when you actually do have to rely on your homeowners insurance policy to cover damage costs to your property. If you want to save time while getting the benefits of checking prices with several companies, an independent agent that offers coverage from several companies is the best way to go.

If you are looking to protect your home from all types of threats and damage, homeowners insurance is the way to go. Before deciding on a policy and insurer, make sure to consider these factors, and take the appropriate steps, to find the best coverage, highest  coverage levels, and the most trusted insurance providers, before you make a purchase.

Flood Insurance – Overlooked but Necessary

flood insurance coverage, marion, harrisburgAcross the nation, people are faced with disasters as a result of everything from snowstorms and thunderstorms, to hurricanes and tornadoes. They strike many areas annually, and virtually every natural weather event has its own unique set of characteristics. But the one thing they all share in common is their potential to bring significant amounts of rainfall, something that all homeowners need to be prepared for.

The Federal Emergency Management Agency (FEMA) and the National Weather Service formed an annual campaign known as National Flood Safety Awareness Week. During this week, safety officials throughout the country set out to inform residents about the various potential damages that can result from large amounts of water brought on by melting snow, heavy rain or poor drainage.

This campaign offered many insights by providing consumers with safety tips, as well as measures they could take to avoid the consequences that often following flooding. Obviously carrying proper amounts of flood insurance can be very helpful.

It is important to know the limits

Each year, thousands of people lose their home and their belongings to damage associated with water. From floods that were caused by rainwater washing away your home to a simple leak in your hot water heater that led to mold issues, you need to make sure you have coverage in place to protect your home or business.

If you want your home to be as protected as it possibly can be, you will need to invest in supplemental insurance to protect it from water damage. There are a variety of different types of flood insurance that you should consider taking a look at, but be sure to determine which one is right for you before you invest in a particular plan. Also, even if you think that there is no possible way that you could lose your house to water damage, think again. Just because the root cause of the destruction of your house was not caused by water, there could be some kind of water involved in some way or another (rain during a hurricane for example) and an insurance company could deny compensation if you didn’t have proper coverage.

Certain areas are certainly more prone to flooding than others, but a flood can strike anywhere at anytime. Don’t wait for a time when a disaster is imminent, since it will likely be too late to be covered by the insurance.

There are lessons to be learned from Hurricane Katrina and Super storm Sandy. Having coverage in place allows for repairs and rebuilding that won’t result in financial ruin. Schedule a call with one of our independent agents for more information about how to ensure you have the proper flood coverage.

Is Disability Insurance Right for You?

disability insurance agents, marion, harrisburg, eldoradoDisability insurance covers you for an extended period of time. Should you be injured or suffer an illness that leaves you unable to work. The two primary types of disability coverage are short term disability and long term disability insurance. Long term coverage can be for a period of up to five years or until the disabled individual turns sixty five.

This provides partial salary replacement to workers who are unable to work. Disability refers to any mental or physical condition that hinders a person from performing regular work or maintaining employment. Disability insurance is offered under some group plans and can also be purchased on an individual basis.

Disability Insurance Quotes

Several factors weigh into the cost of disability insurance policies. As with auto insurance, using an independent agent will allow you to compare the costs and coverage options of several providers while working with a single agent who understands your needs.

Making Your Final Decision

A qualified insurance agent will be able to help you understand all of your options and navigate the sometimes confusing world of insurance. When speaking with your agent be sure to ask about the track record of the companies they suggest to you. Sometimes factors such as payout time, claims process quirks, and overall client satisfaction are omitted when discussing coverage options. Taking the time to ask about these items can save you hassle and ensure you are satisfied with your decision.

Remember, many people seeking insurance coverage focus on price alone which is a mistake. If you have a policy that is next to impossible to use, your initial savings will quickly be erased.

When you are ready to compare your options and select a disability policy to protect you in the event of an injury or illness, get in touch with one of our agents today and we would be more than happy to help you navigate the process.

auto insurance, marion il, coverage options

Tips for Finding the Best Auto Insurance

auto insurance, marion il, coverage optionsEven though many vehicle owners use price as the main factor when selecting an insurance policy, price alone is not an effective tool when comparing auto insurance rates. Below are a few points you should consider when looking for a new insurance policy.

Identify Your Needs and Risk Tolerance

First identify the type of coverage you want. There are different types of insurance covers ranging from comprehensive, liability and collision insurance. The type of insurance you select will be determined by a number of factors including state requirements, type of vehicle, vehicle use and personal preference. If you are not certain about the types of coverage you need in your state, a qualified insurance agent can help you select the correct coverage levels.

Get Quotes from Multiple Insurance Companies

Once you identify the type of insurance coverage you want for your vehicle, select a few professional and reliable vehicle insurance companies and get quotes from them for you to compare. Independent agents are great for this as they can quickly give you quotes from multiple insurance companies while keeping your needs in mind.

Compare the Limit of Liability Coverage

In the event you are involved in an accident in which you are the at fault party, liability coverage is used to pay for vehicle repair, medical bills and compensation for the other driver. In many states you can elect to carry minimum coverage but it may not protect you in all situations. For this reason, we highly advise speaking with a qualified agent to make sure your coverage is up to par.

Compare the Deductibles

Insurance companies usually pay for damages to your vehicle including replacement in the event it is totaled. Deductibles are the amount you have to pay from your pocket when you a make a claim before the insurance claim are processed. When comparing auto insurance rates, it is important to compare the deductibles in each policy. Generally a lower deductible results in a higher premium and a higher deductible in a lower premium, take time to consider the pros and cons of each before selecting a policy.

Check for Savings Opportunities

Many insurance companies offer discounts for multi-car coverage, safety features, driving record, and an assortment of other qualifying criteria. Be sure to ask your agent if you could qualify for additional savings by moving all of your policies to them. Also be sure to ask about other types of discounts that may be available.

Remember, when you are choosing an insurance policy, you should look at the coverage limits, deductibles, and the overall quality of the company you are going to be covered by.