Selling Insurance on Value, Not Price

Posted: October 23, 2017

As an Insurance professional, it always concerns me when people shop their insurance rates and forget, or overlook, important things like coverage options and dwelling replacement cost.  You may compare different property insurance markets that offer competitive pricing, but have you considered the overall value and service you receive from your current insurance provider?

It’s human nature to want to pay as little as possible, but at what cost do you make this sacrifice?  In the event your house is destroyed by fire, the last thing you would want to be advised while dealing with the emotional stress is that your property insurance policy limits aren’t adequate to replace everything and that you will be paying out of pocket to rebuild your home or replace personal belongings.

There is often a misconception that the responsibility to insure your residential property at the proper limit lies solely on your insurance company, this isn’t true. The information you provide is used to ensure that you are able to rebuild your home at today’s cost. This in part, is why Erie Mutual Insurance inspects your property and provides a dwelling replacement cost on your home.  This amount will increase over time as construction costs rise, but insuring your home to proper value is essential to ensure that you will be as stress-free as possible in the event of a claim.

There are a couple of things that you can do if you are unsure whether or not your home is properly insured. If you are one of those people that pay your premium when you get your renewal in the mail and files the documents away without reading them, I suggest if anything, read the number which signifies the amount of coverage for the house itself. Does it seem like it’s enough coverage? That limit is significant and is crucial to the rest of the coverage included in your residential insurance policy. If that number is not accurate, you could be under insured for everything else. Why would you want to pay premiums ( that might be cheap ) on coverage that isn’t accurate?

Questions to ask yourself - What is your company doing to help you receive value for your premium dollars? Are they inspecting your home? Are they educating you in the aspects of loss prevention?  Are you receiving sound advice from an insurance professional to ensure your family and property are adequately covered?

Paying for insurance is inevitable, so it makes sense to at least know that you are covered properly. There are a lot of things in life that we can get away with “ being cheap” about, your home insurance coverage should not be one of them (unless of course, you like to be stressed and financially strapped during a sudden loss or event ). If when shopping around you find significant savings in rates …. consider if it is coming at a cost in other forms. Be assured, you are likely not to realize that cost until it’s too late.

Contact an Erie Mutual insurance advisor to review your residential insurance policy and feel confident that we are here to protect you and your family – it’s what we do. 




I feel confident that I have the coverage I need for a reasonable fee

Mike & Susan, Policyholder