With many insurance companies in the market offering you best deals, there are certain things you need to remember regarding home insurance companies.
- Your credit history. Every insurance agent will check for your credit score, its history and also your rapport with previous insurance companies. If you fail to have a good credit history or multiple car crashes, it simply means high premium.
- If you are on a high risk, insurance companies will have to take those risk factors into consideration as they will be paying to replace the loss from risks. Hence, you will end up paying more premiums as you will need the services to be rendered by the insurance company sooner to cover those losses.
- Basic home insurance policy will cover your home and its content for their replacement cost value. This makes the agent to delve deep and query in order to know the materials used in construction, age of appliances used, square footage, architecture of the building, updates on electrical, heating and plumbing systems, any detached structures, quality of flooring and roofing materials and many more.
- If you try saving your money now and tend to hide the age of heating or plumbing systems, then think twice. When any loss occurs, your insurance company will pay you only for the replacement cost value of the asset as per the details given by you. Hence, being truthful and accurate becomes necessary.
- Your prized possessions. Valuables such as jewelery, furs, silver, electronic equipments, some antiques and many more needs a separate policy. These valuables usually need a clause in the policy. It is always better to check with your home insurance company or the agent. Also, remember to cover these valuables for their replacement cost value and do not hide the correct value from the insurer.