Home insurance is something that every home owner needs, but that only few home owners truly understand fully. In the swamp of jargon, premiums, deductibles, coverage, and more, you’re lucky to have Massachusetts insurance experts in your corner!
Unfortunately, we see home insurance mistakes made each and every day. In an effort to ensure that our clients don’t run into any blunders when purchasing their home insurance coverage, we want to offer a short guide to five of the most common home insurance mistakes:
Not getting enough dwelling coverage.
One of the most prominent reasons to purchase insurance is to get coverage for your home in case of a catastrophe. If your home is destroyed, a home insurance policy will typically provide payment to cover rebuilding costs. Unfortunately, most people don’t invest in enough coverage to rebuild their home! Make sure that your insurance policy will provide enough of a payout that it could rebuild your whole home – if you need to make a claim because of a total loss, you won’t want to have to pay for any of the rebuilding yourself.
Forgetting to get adequate coverage for valuables.
The other prominent reason to purchase a home insurance policy is to get protection for your ‘stuff’ in case of a loss. Again, make sure that you have enough coverage to replace all of your things. This should include the typical furniture and electronics, but should also include your valuables. Ask your Massachusetts insurance agent about adding coverage for your family’s jewelry, antiques, collections, and more – this will ensure that you have complete coverage for your treasures.
Choosing the wrong deductible.
A deductible is the amount that you will need to pay out of pocket before your insurance policy kicks in. Choose too high a deductible, and your out-of-pocket payments may be hard to cover if you need to file a claim. On the other hand, if your deductible is too low, you will be paying more in premiums to compensate. If you are having trouble deciding what the right deductible is for you, ask a Boston insurance agent from Vargas and Vargas Insurance for advice!
Opting out of additional coverage.
Standard home insurance policies will protect you against a number of perils, typically including fire, wind, and more. If you want complete protection, though, make sure you add additional coverage for perils such as floods and earthquakes. The coverage is typically very affordable, and the peace of mind that comes with it is priceless. A Massachusetts insurance expert will be able to recommend the right coverage for you based on your home’s location.
You could get lucky with your first quote, but why take that chance? Instead of opting for the first home insurance policy that you get, call Vargas and Vargas Insurance Agency. With one quick call to 617-298-0655, you can give an agent all of your information and we will do the comparison shopping for you! If you want to find great coverage at a great price, Vargas and Vargas Insurance is for you, so call now.
