Important Things You Need to Know About Home Insurance
June 13, 2011
Today, many homeowners need to better understand the home insurance protection they have in force. Policies and coverages vary from one insurance company to the next, so it is critical for all homeowners to clearly understand the insurance protection contained within their policy. Here are a few things you should know about home insurance.
What are some factors to consider when purchasing or renewing your home insurance coverage?
Not all home insurance policies are the same. Your decision to purchase insurance for the first time or to renew your home insurance, should go beyond what price you will pay for the coverage you are acquiring.
Some factors to consider in your decision making include:
- do you require a face-to-face relationship with your insurance representative?
- do you prefer a more personalized claims settlement process?
- do you have the most affordable deductible included in your policy?
All of these factors will impact your coverage. You are encouraged to invest some time in learning about all of your coverage options before making any final purchase or renewal decision.
Do I have sewer back-up coverage?
It may come as a surprise to you, but not all insurance policies extend coverage for damages incurred when sewer back-up occurs in your home. Sewer back-ups are becoming increasingly more frequent given the aging infrastructures of many municipalities. We are also seeing more homeowners occupy their basement space more and more, often spending thousands of dollars to renovate this space and equip it with expensive audio/video equipment.
Take the necessary precautions and contact your insurance agent to learn more about sewer back-up coverage.
Can I receive a discount on my policy?
The simple answer is yes! You can and may even receive multiple discounts on your policy. Most insurers offer discounts for such things as being a non-smoking household, having a monitored alarm system or being a claims-free policyholder. Make sure you are aware of all available discounts with your insurer at the time you are purchasing home insurance or simply renewing your policy.
At Erie Mutual Insurance, we believe the most important thing you should know about your home insurance policy is that your policy is a complex contract that requires sound advice to go with it. We strongly encourage you to meet your Erie Mutual insurance agent at least once per year, to review your policy in detail to ensure it covers all of the risks that may present themselves in the future.
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