5 Factors To Consider When Choosing Home Insurance

​Owning something valuable requires you to protect it from sudden loss. It is the main reason why home insurance exists. Home insurance covers your property from damages, liability from accidents and injuries, and loss of possessions from theft.

In this article, you will learn about the five factors you should consider and check before availing of home insurance.

1. Coverage Type
A standard home insurance policy includes coverage for personal belongings, home structure, liability protection, and additional living expenses. Usually, a home insurance policy already includes fire risk coverage. There are also other optional perils you can add on a case-to-case basis. However, you need to understand the limitations as well.

2. Policy Exclusions
There are policy exclusions to note that insurers require endorsements and additional premium payment if you want to avail of one.

The most certain policy exclusion is acts of nature. These perils include earthquakes, floods, volcanic eruptions, and other natural calamities. Often, intentional loss to the property is excluded from the home insurance policy.

3. Rates and Premiums
The rates and premiums of a home insurance policy depend on several factors. Some of these factors are the building construction of the property, such as:

• building type
• age of the house
• roof type

The house's proximity to high-risk areas, such as the coast or neighborhoods with high crime rates, also affects the premium. Other factors that sum up the rates and premiums of a home insurance policy include the history of past claims and coverage options.

4. Quotations from Different Insurers
To get the best home insurance for your property, you need to inquire and ask for quotations from two or more insurers for the best option. Comparing the quote from Insurer A and Insurer B can help you weigh the pros and cons of the more appropriate choice.

5. Claim Process
Lastly, you also need to ask beforehand about the claim process. When you experience a loss in your property, it is essential to know how long the insurance company can process your claim. That way, you can repair your home as soon as possible.

Get Your Home Insured
Now that you know the essential things to consider when choosing home insurance, you may want to get your home insured for additional protection and security. You can seek guidance from different insurers to help you better understand the coverage you need for your home insurance policy.

At Jacobs Insurance Solutions, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get insurance that fits your needs. You can get more information about our products and services by calling our agency at (817) 485-8989. Get your free quote today by CLICKING HERE. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!