Homeowners insurance -- tips for first timer

[bd4727]

I follow people's advice / opinions on here closely and love the straightforward advice, so I figured I would throw out what I realize is a vague question with hopes of getting some collective wisdom.

Just bought our first home (~3500 sq foot in rural Michigan). I've spent a ton of time researching homeowners insurance and am getting a bit tired of trying to think through all the various optional things Etc.

Would be curious of people's experience and opinions in general about things to do and not do, ways to save money, and areas to not cut corners. Plus any shopping around / negotiating tips.

thanks in advance

 

[LBKCLU]

First and foremost, make sure to get replacement insurance for both the dwelling and contents of your home, Off premises theft coverage, make sure to go with a higher deductible to cut your costs (keep in mind a claim for your home will be big anyway) and schedule any significant jewelry items or artwork as those coverage limits are typically very low.

I would look to use the same company for your auto, homeowner's and umbrella policies in order to take advantage of any multi-policy discounts (you have to compare these numbers vs buying them separately if you use different companies).

Make sure that the liability limits for both your auto and homeowner's policies are the same (since you are not sure where something might happen) and, keep in mind, most carriers will not offer you a stand alone umbrella policy without at least one other line of insurance (typically the auto insurance).

I would also look to start with a deductible on your auto insurance of at least $1,000 and something along the lines of $2,500 on your home (again, you have to see what the difference in premium is when comparing the deductibles to determine if the cost savings is justified).

 

[elizabethbeck]

Hello,

To choose a home insurance company make sure it covers the services like fire damage, water/flood damage , storm damage , mold damage etc. In case you are not satisfied with the amount your company is willing to pay on your claim, you can hire a public adjuster who will represent the policy holder to maximize your insurance claim . Premier public adjusters like reliantpa , agpa , allclaimsusa ( http://allclaimsusa.com/ ) will help make this process easier for you .