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Helpful Tips to Buy Home, Auto and Other Types of Insurance

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home and auto insuranceJust like you buy a major item, buying insurance is a task that should be given a significant thought. Just as when you buy a car, insurance too should be bought after comparing companies and products, and looking for the best quality, price and customer service.

Quick Shopping Tips

Invite Quotes from Several Companies

Different companies have different rates; hence you should get several quotes. However, don’t just look at the figures of rates; compare what coverage the companies are offering for those prices.

Check Factors Other than Price

Factors other than price are the financial rating, license status and complaint index which you should check. The financial rating shows the financial stability and strength of the company, whereas the complaint index shows its customer service record. Also buying only from licensed insurance companies such as U.S. Home and Auto Insurance Group is also very important.

Hire Independent Agents

There are certain agents that work only for one company or company group. However, independent agents work for several companies and can provide you multiple quotes at a time.

Think with Higher Deductibles in Mind

A deductible is the amount you need to pay prior to the payment from the insurance company. For instance, if you have a deductible of $300 and claim of $1,000, the company will already deduct $300 from the amount to be paid to you. If you choose higher deductibles, your premium will be lower accordingly. So, choose deductibles as high as possible.

Decide Your Requirements

It’s important to check your limits every year to ensure that you have got sufficient coverage to replace your home and car if they are damaged or destroyed. Creating a written record will help you realize how much coverage you require.

home insurance

Never Pay an Agent in Cash

Remember to pay directly to the insurance company in the form of a check or money order and not an agent in the form of cash. Also remember to get a receipt.

Ask for Any Discounts

Keep in mind that most home and auto insurance companies provide discounts due to which your premium can be reduced. Don’t forget to ask if you are eligible for any such discount.

Continue Shopping Even if a Company Rejects Your Application

If a company rejects your application for insurance, there’s nothing to be disappointed. The criteria for accepting customers differ from company to company. So, keep shopping until you get a company which accepts you and whose terms are favorable to you.

Uninterrupted Coverage

Take care not to cancel a policy till you receive your new policy or a written binder. Your coverage is proved by a binder till your policy is issued by the company.

Understand Your Rights

Before buying any home and/or auto insurance policy, understand your legal rights as well as responsibilities.

car insurance

Other Types of Insurance You may Need

To add to your residential policy, you may want to buy some other types of insurance, based on where you live and what risks you face.

Flood Insurance: Typically homeowners’ policies don’t protect you against flood damage. In such a case, it’s a good idea to buy a flood insurance policy under the NFIP (National Flood Insurance Program) or a reputable company like U.S. Home and Auto Insurance Group, especially if your home is in a flood hazard region.

flood insurance

Personal Umbrella Liability Insurance: If you are in need of more liability coverage than what is provided by your homeowners’ policy, buying a separate umbrella policy is a good idea. Since policies differ in terms of coverage, make sure your provider explains the coverage to you thoroughly.

Hopefully, this information will be helpful to you in deciding your insurance needs and making an educated decision. Protect your belongings with adequate insurance and have a great peace of mind.

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