SHOPPING FOR A NEW HOMEOWNERS INSURANCE POLICY

Homeowners insurance is the best way to protect your home and assets in California. Whether you have purchased a new home or are looking for a better policy, shopping for homeowners insurance can be difficult.

There are many homeowners insurance providers and policy options, it can be challenging to know what is best.

Fortunately, a little preparation before shopping for homeowners insurance can make the process go more smoothly. It will also help you know what policy is best for you. Here are four tips on shopping for a new homeowner’s insurance policy.

TIPS SHOPPING FOR A NEW HOMEOWNERS INSURANCE POLICY

1. Determine Your Needs

The first thing you will need to do before shopping for homeowners insurance is to determine your needs. There are a lot of options available for homeowners insurance. Defining your needs early on can help guide you through the process. This will ensure that you are neither under or over-insured. An agent can help you refine your policy, but it’s always a good idea to have a general understanding of your risks and the coverage options available when you begin shopping.

2. Review Your Previous Policy

If you currently have a homeowners insurance policy, take some time to review the policy. Look at your risks, coverages, limits, and deductibles. It’s also a good idea to review your past claims history. Oftentimes people just look at the premium costs and not the details of the policy. It’s important to understand exactly what you are paying for with homeowners insurance. This will help you source a better deal while you are shopping.

3. Prepare Your Paperwork

There are some basic documents you will need to present to your homeowners insurance company including:

1.    Details about the property

2.    A list of valuable assets

3.    Your home inspection paperwork

If you have a home security system, it’s also good to provide your homeowners insurance with proof to get a discount. If there are any necessary repairs, it’s a good idea to look into getting them fixed before purchasing an insurance policy to help reduce your rates. You should also look at your flood risk. FEMA has a flood map that can help you understand your flood risks.

4. Always Ask About Discounts

As you begin to shop for homeowners insurance, ask the insurance agent about discount programs. Insurance companies offer discounts for a range of different things from hip-shaped roofs to retirement status to bundling all your insurance policies. Understanding the discounts available to you will help you select a comprehensive and affordable package.

Contact us

These four tips will help you find the best homeowners insurance policy for your needs. At Panorama, we can help make shopping easy. We work with a number of local and national insurance companies. We can get multiple quotes and compare pricing and coverage to find you the best deal. Our knowledgeable agents in California are also available to answer any questions about the process. Give us a call to learn more about our homeowners insurance options 818-781-6630