Your home is one of your most valuable assets, and you don’t want to trust its insurance to just anyone. A reputable insurance company can help you get a homeowners policy with the right amount of protection. One of two types of agents traditionally help with insurance coverage—an agent who works exclusively with one insurance company or an independent agent who obtains quotes from numerous companies. In addition, a variety of online insurers also offer coverage plans.
Keep the following guidelines in mind when you’re shopping for a reputable home insurance company. Visit your state’s department of insurance website to learn the rating for each carrier licensed to conduct business in your state. You can also review any consumer complaints lodged against an insurance company.
Check Credit Ratings
Review insurers on the websites of the top credit agencies, such as A.M. Best, Moody’s, J.D. Power, Standard & Poor’s, the National Association of Insurance Commissioners and Weiss Research. These websites also rate the financial health of insurers to determine whether they will be able to pay out claims.
Look at Claims Responses
Before buying a policy, determine whether the insurer uses licensed adjusters or a third-party call center to receive and answer your claims calls. Look for a carrier with a proven track record of fair, timely settlements.
Review Customer Retention
Ask your agent about their company’s retention rate—that is, the percentage of policyholders who renew each year. You can also find customer satisfaction information in annual reports, online reviews and testimonials from people you trust.
Get Multiple Quotes
Homeowners coverage and premiums can vary a lot depending upon the insurer. Try to obtain quotes from multiple insurers to ensure you make the best choice. If possible, request a quote from an insurer with whom you already have a relationship. They may be able to bundle your policies and provide a better rate or even a discount.
We’re Here To Help
Purchasing a home is one of the most significant investment decisions you can make, and having the best homeowners insurance is the surest way to protect your investment. At Advance Insurance, we will work closely with you to create a homeowners policy that meets all your needs. Call us at 801-226-1100 today to get started.