Home Insurance

Home Insurance | M.L. Bruenn Insurance | NYDiscover the Value of Competitive Homeowner’s Insurance Policies

One of the most exciting moments in life could be the news that the offer you made on a house you want has been accepted. Last minute details are going to keep you busy, so start searching for homeowner’s insurance policies right away. It is a popular and necessary type of insurance that offers many options. It is easy to get overwhelmed deciding what is needed for your policy, as you are protecting your investment and that of the lender. Following are five suggestions to guide you in your selection.

1. Research and Compare
Ask for quotes from four or five reliable insurance companies. Disasters can strike at any time, so you want to work with a quality company that is trustworthy and easy to contact. Look at customer reviews online, with the Better Business Bureau in that area and with the state insurance commissioner. Make notes about claims handling, customer satisfaction, complaint resolution and the financial security of the company. Then compare the coverage and rates, including discounts for bundling policies.

2. Review Submitted Information
Now that you have a copy of the preliminary title report, review the information provided for the quote. Confirm the address and location. Things like square footage and the year the home was built affect the cost, as does the proximity to fire hydrants or plentiful water. Look to see what type of roof is listed, as that affects price. Even construction materials, electrical and plumbing systems impact the results. This detailed information results in accurate home insurance rates.

3. Choosing a Deductible
The most important thing to remember about a deductible is that you pay that amount of money towards any damage first. Even though deductibles can be as much as $10,000, mortgage companies will require the deductible to be no more than $500 or $1,000. A higher deductible reduces the annual premium, but might prove hard to come up with all at once. Selecting a lower deductible may be easier to handle. The monthly premiums will be higher, but an out of pocket expense in an emergency will be more affordable.

4. The Right Coverage
Remember to get homeowner’s insurance based on replacement value rather than market value. It is common to find a home is underinsured, as a homeowner may not notice those terms. Replacement value involves higher premium because it pays to rebuild or replace your home. Like the comfortable deductible, the added expense for specifying that coverage is justified in the event of a large claim for damages to your home.

5. Premium Discounts
It is fascinating to learn the different ways you can save money with home insurance. Find out what will entitle you to a bonus or discount. Usually you only have to ask the agent or research online. Deadbolt locks to prevent burglaries and security alarms to discourage break-ins often qualify for discounts. Bundling to multi-policy coverage for vehicles and home policies brings significant savings. Longevity with the same company often brings a discount. Once you have the numbers in hand, select a highly ranked company that offers competitive rates for the coverage on your home.

For a personal discussion of your Home Insurance requirements contact or to request a quote on homeowners insurance in New Rochelle, Scardsdale or White Plains contact Tom Bruenn at tom@insureusall.com 914-632-2222.

 

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