Rick Case Insurance Agency Blog
You never know when a disaster might strike and ruin your house. For instances like this, it is good to have a home insurance policy that will cover your loss. However, there are times when even the coverage of these insurance policies are not enough to build back your home. To make sure that your home is well-protected by its insurance, here are some of the things you may ask your insurance provider.
What are My Policy’s Limits?
Many home insurance policies take care of the structure when it gets destroyed. The amount you will be reimbursed for all the damage repair depends on what is printed in the contract. These written policies show the hazard coverage limits with one of the three terms, and the money you will receive as stated by each term can make a huge difference. The three types of coverage limits are the actual cash value, replacement cost value, and guaranteed replacement cost or extended replacement cost.
If your current policy does not pay the full cost to replace your home in case of a disaster, you should think about increasing your policy limits. While it will cost you an increase in the premiums, it is just a small price to pay for the guarantee in case your home faces great damage.
Do I have a Hazard or Home Insurance?
Many people often interchange the two insurance policies. Typical homeowners insurance include hazard insurance as well as property and liability coverage. This kind of coverage is essential in case all of your possessions are destroyed or if someone injured on your property decides to sue you. On the other hand, hazard insurance only covers the structures in your home that are damaged in the disasters that are stated in the contract. This means that if your home is destroyed, your insurance provider will only pay for the repair costs, but you won’t receive any amount of money.
Is My Insurance Provider the Best Out There?
If you shop around, you can find the best rates that may be offered by insurance providers. However, this is not the only factor that you must consider when comparing companies and finding the best one. You should also look at the affordable rates, customer services rating, and claims process satisfaction score.
Looking around and finding the best possible home insurance policy may not be the most appealing activity, but it is vital. Make sure your home is protected in case an unexpected disaster might strike by carefully picking out the insurance policy that works best for you.
At Rick Case Insurance Agency, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (405) 722-5556 or Click Here to request a free quote.