Lessons in Insurance Shopping: Looking Beyond Face Value

Securing Home and AutoAccurately comparing car insurance and homeowners insurance has a lot to do with determining the categories you fall into. For example, if you’re considered a high risk driver due to your long history of being involved in accidents, it’s probably in your best interest to ramp up your level of liability insurance and to factor that into your quote. But what determines if you need high value home insurance?

Although you might think that your need for standard or high value home insurance depends totally on the dollar value of your home, that’s not the only factor. You don’t have to live in a mansion or earn a particularly high salary to qualify as someone who needs a high level of homeowners insurance. However, if you happen to own a lot of expensive “stuff” this could be an immediate qualifier.

So what kind of “stuff” do you have to own in order to be a good candidate for high value home insurance? Here’s a quick, but by no means totally inclusive, list.

• Expensive electronic equipment
• Valuable art
• Irreplaceable antiques
• Priceless family heirlooms
• High value collections (anything from wine to baseball cards)

As you can see, the fact that someone can live in a shanty and still qualify for high value home insurance is a lesson in not always taking things at face value when shopping for insurance. This is a lesson that’ll serve you well when comparing car insurance, homeowners insurance, health insurance, life insurance, and any other kind of insurance you can possibly think of.