Choosing a home insurance provider is a job all new home owners must do, and is quite serious because you are in effect married to that provider. You will depend on him and his company when disaster strike, so it is important to make sure that you choose a home insurance provider you trust.
One of the factors you’ll take into consideration is price. Not all insurance providers are the same, so check around and get quotes. Make sure that you are comparing apples to oranges, and that one policy provides roughly the same coverage as another when you do your checking. Ask friends, neighbors, co-workers and relatives who they recommend, and see if they’ve ever had claims, and if so if they’ve ever had problems with a claim. Make sure you are choosing both a company and an agent that have good reputations for providing fast claim service.
Next, check the stability of the insurance provider. You are counting on them being there and having adequate money if you ever need a claim, so you are well within your rights in doing the smart thing and checking them out. Go online and see what type of rating they have. Check message boards and forums and see if anyone has had complaints about their service. Contact your state insurance commission and see what type of reports they have on them. Also check the National Insurance Provider Registry and see what type of reports they have.
When checking on an insurance provider it might be wise to see what their costs are for additional coverage. An umbrella policy will provide you with additional liability coverage and most experts agree that it is a wise move. Most umbrella policies cover up to one million dollars in liability, and if someone injures themselves on your property, and decide to sue, the legal bills can mount up fast. Also check and see if they will give you discounts for moving your car insurance over to them, or your life insurance. Many times an insurance provider will make a package deal if you have all of your coverage with him and provide significant savings.
Selecting an insurance company is very important, but it is also important to select the right agent, to make sure that the agent has integrity and experience and will stand behind you if you have problems with the company. When interviewing agents, be ready to ask a few questions. Always ask the agent how long he or she has been in the business. Also how is the agent compensated? Is he or she a commissioned agent? That isn’t bad in itself but it does tell you that they gain money if they sell you more insurance, which makes it hard to be an impartial judge. Ask the agent how much clout he or she has if there is a problem with a claim or a dispute over coverage. You want an agent who has some leverage with the company and will go to bat for you.