{"id":231,"date":"2021-03-13T20:20:47","date_gmt":"2021-03-13T20:20:47","guid":{"rendered":"https:\/\/readyretiree.com\/?p=231"},"modified":"2023-03-25T19:42:29","modified_gmt":"2023-03-25T19:42:29","slug":"the-ultimate-guide-to-shopping-for-home-owners-insurance","status":"publish","type":"post","link":"https:\/\/prorealestateinvesting.com\/the-ultimate-guide-to-shopping-for-home-owners-insurance\/","title":{"rendered":"The Ultimate Guide to Shopping for Home Owners Insurance"},"content":{"rendered":"\n
When people buy a car, they usually just look at how much the vehicle will cost. They will negotiate with their sales person on the price to reduce their monthly payments. Once they come up with an agreed amount, the buyer can walk away happy. That is until they get their insurance quote. That car now has an increased monthly payment due to the auto insurance policy.<\/p>\n\n\n\n
The same thing can happen when buying a house. Homeowner policies do not differ as much as auto policies, but coverage can be different. If this is the time for you to get a new homeowner insurance policy, there are many aspects you should educate yourself on before you buy your house.<\/p>\n\n\n\n
Your mortgage lender may have a pre-selected homeowner insurance company they work with. Some people choose to take this at face value and sign up with that company. In states where there are not a lot of companies to choose from, like Florida, buyers can be grateful that they have coverage.<\/p>\n\n\n\n
Shopping around for homeowner insurance can save you money and give you the protection you need. Some policies may look less expensive at first, but if you review the policy, you could have gaps in coverage that you may actually need.<\/p>\n\n\n\n
When you look around, consider the following questions<\/a> when shopping. The goal is to get the coverage you need at an affordable monthly payment.<\/p>\n\n\n\n There are many other questions you can ask. The more you learn, the better of a decision you can make about which policy is right for you. Make sure you get everything you want in writing. Documented proof can protect you as much as the insurance company.<\/p>\n\n\n\n The home buying experience can be long, frustrating, and confusing. The more you educate yourself, the better the experience will be. Key points to remember is to understand what is covered and what is not. Choosing an insurer on price alone can create gaps in coverage due to certain damage not being covered. Learning about the company\u2019s financial health can give you an idea on how your experience with them will be. It is required by the insurance governing institutions that any complaints an insurer receives are registered with the state. Contact your state\u2019s insurance governing board to learn about common issues that arise. Yes, every insurance company gets complaints. If there is a common occurrence about that company, you may want to know about it before you sign up.<\/p>\n","protected":false},"excerpt":{"rendered":" When people buy a car, they usually just look at how much the vehicle will cost. They will…<\/p>\n","protected":false},"author":1,"featured_media":1482,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kadence_starter_templates_imported_post":false,"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[24],"tags":[],"taxonomy_info":{"category":[{"value":24,"label":"Real Estate Financing"}]},"featured_image_src_large":["https:\/\/prorealestateinvesting.com\/wp-content\/uploads\/2021\/03\/Insurance-1024x576.jpg",1024,576,true],"author_info":{"display_name":"Matt Cochrell","author_link":"https:\/\/prorealestateinvesting.com\/author\/matt\/"},"comment_info":5,"category_info":[{"term_id":24,"name":"Real Estate Financing","slug":"real-estate-financing","term_group":0,"term_taxonomy_id":24,"taxonomy":"category","description":"","parent":0,"count":3,"filter":"raw","cat_ID":24,"category_count":3,"category_description":"","cat_name":"Real Estate Financing","category_nicename":"real-estate-financing","category_parent":0}],"tag_info":false,"uagb_featured_image_src":{"full":["https:\/\/prorealestateinvesting.com\/wp-content\/uploads\/2021\/03\/Insurance.jpg",2240,1260,false],"thumbnail":["https:\/\/prorealestateinvesting.com\/wp-content\/uploads\/2021\/03\/Insurance-150x150.jpg",150,150,true],"medium":["https:\/\/prorealestateinvesting.com\/wp-content\/uploads\/2021\/03\/Insurance-300x169.jpg",300,169,true],"medium_large":["https:\/\/prorealestateinvesting.com\/wp-content\/uploads\/2021\/03\/Insurance-768x432.jpg",768,432,true],"large":["https:\/\/prorealestateinvesting.com\/wp-content\/uploads\/2021\/03\/Insurance-1024x576.jpg",1024,576,true],"1536x1536":["https:\/\/prorealestateinvesting.com\/wp-content\/uploads\/2021\/03\/Insurance-1536x864.jpg",1536,864,true],"2048x2048":["https:\/\/prorealestateinvesting.com\/wp-content\/uploads\/2021\/03\/Insurance-2048x1152.jpg",2048,1152,true]},"uagb_author_info":{"display_name":"Matt Cochrell","author_link":"https:\/\/prorealestateinvesting.com\/author\/matt\/"},"uagb_comment_info":5,"uagb_excerpt":"When people buy a car, they usually just look at how much the vehicle will cost. They will...","_links":{"self":[{"href":"https:\/\/prorealestateinvesting.com\/wp-json\/wp\/v2\/posts\/231"}],"collection":[{"href":"https:\/\/prorealestateinvesting.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prorealestateinvesting.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prorealestateinvesting.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prorealestateinvesting.com\/wp-json\/wp\/v2\/comments?post=231"}],"version-history":[{"count":2,"href":"https:\/\/prorealestateinvesting.com\/wp-json\/wp\/v2\/posts\/231\/revisions"}],"predecessor-version":[{"id":1989,"href":"https:\/\/prorealestateinvesting.com\/wp-json\/wp\/v2\/posts\/231\/revisions\/1989"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prorealestateinvesting.com\/wp-json\/wp\/v2\/media\/1482"}],"wp:attachment":[{"href":"https:\/\/prorealestateinvesting.com\/wp-json\/wp\/v2\/media?parent=231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prorealestateinvesting.com\/wp-json\/wp\/v2\/categories?post=231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prorealestateinvesting.com\/wp-json\/wp\/v2\/tags?post=231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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For your higher priced items, like art, your homeowners coverage may not cover the full value. You will need to look into getting a separate policy to insure these high priced items.
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Also talk with your insurance rep about your area. The home you want to buy may be located in a region that has a history of earthquakes, hurricanes, or flooding. Buying the additional policy to cover these events are not normally included with standard homeowner policies.
<\/li>\n\n\n\nRoadblocks And Accuracy<\/h2>\n\n\n\n
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If your credit score is not the best, you could end up paying more per month. Ways to counter this is to raise your deductible<\/a> amount to lower your premium payment. Also, have your policy reviewed yearly. Once the insurance company has an established payment history on you, they may have loyalty discounts you may be eligible for. As time goes on, your credit score could get better. By having a review, they could take your better score into account.<\/li>\n<\/ul>\n\n\n\nShopping Like A Pro<\/h2>\n\n\n\n
One last thing to consider is to seek advice from your friends and family. If they have had to submit a claim through their homeowners insurance company, find out what their experience was like. Talk to neighbors to see which company they are with.<\/p>\n\n\n\n