How do I know if the home insurance I have is the best one for me?
All homeowners’ insurance is different. Even if they cover two identical properties in the same urbanization, other aspects must be included in the equation to guarantee the true protection of all the heritage.
Property insurance, in addition to covering the structural part of the house, has the objective of protecting everything that is inside it. That’s called content, and insurers usually cover up to $ 100,000 of content in each contract.
But don’t imagine that if your home has a fire, the insurer will give you $ 100,000 to buy new furniture and personal items. None of that, you must first demonstrate what is inside your house. To do this, you will make an inventory that includes all the furniture and appliances you have. To which you will add the purchase receipts where their prices are reflected. That will be the guide that the insurer will use to protect the contents of your home.
Many “savvy” people recommend including as little furniture and personal items as possible on that list to avoid increasing your insurance premium. They fall into what is known as underinsurance. If a loss occurs on your property, then do not expect to be compensated for the losses suffered. They will only pay you the value of the content that you declared.
To avoid underinsurance, it is important to update your home inventory each year. If during that time period, you purchased or replaced valuable furniture or equipment on your property, you must add or replace it in inventory.
Keep in mind that the best insurance is not the cheapest or the most expensive. It is the one that best protects your home and all your family’s belongings.
Many times, when we buy a property, the bank or the lender advises us some insurance companies with which they usually work. At that moment, overwhelmed by all the details of the purchase, one chooses any of them without going into deep analysis. However, that does not mean that you should stay with that company for life. When the first year is over, you can search the market for the insurance company that best suits your needs.
Sometimes it is a bit cumbersome to choose between so many companies. Therefore, it is best to go to the specialists of Univista Insurance so that they are the ones who can help you find the insurance company that truly cares for your interests.