Before purchasing your new homeowner's insurance policy, consider scheduling a consultation with your representative so that you can have a few important questions answered. Here are a few questions that should be added to a list of your own:
Exactly What Types of Disasters Are Covered?
Don't just assume that any kind of disaster that happens to your home will be covered by your homeowner's insurance policy. It might seem like all natural disasters would be covered by the typical insurance policy, but that isn't always the case. For example, if your policy covers fires, it may only cover fires that result from specific causes and exclude others. Also, your policy might cover damage done in earthquakes but not aftershocks. So, it is important to ask your insurance representative to provide you with a complete list of disasters that are covered and those that are excluded so that you know exactly what to expect if something ever does happen to your home.
How Does the Claims Process Work?
It is also important to find out how the claims process works when you purchase your new homeowner's insurance policy, so you know what steps to take as soon as a disaster happens. You likely won't have the time or want to figure out the claims process while dealing with a damaged home. But you can automate the process by understanding it and putting all of the paperwork in place beforehand. Make sure you have all of the phone numbers and email addresses you will need to complete the claims process.
What If Changes Need to Be Made?
There may come a time in the future when your household needs change, and you'll need to adjust the terms of your insurance policy accordingly. So, even if you don't expect to make changes in the future, it is a good idea to ask your insurance representative what will happen if you do request changes as time goes on: Will there be a surcharge for any changes that you make? Will you be able to keep the same policy, or will you have to purchase a new policy? How long will it take for the adjustments to take place after filing a change request? The answers to these questions will help you determine whether the insurance policy you're considering buying will meet all of your household's needs in the long run.
Call your representative today to schedule your consultation and learn more about the terms of your new homeowner's insurance policy.