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HOMEOWNERS INSURANCE - Page 5

Getting The Best Price (continued)

 

b.  While the company you are considering may be financially solid, they may  or may not have a reputation for settling claims in a hassle-free and expeditious manner. Ask your agent for information regarding settlement practices, contact the State Insurance Commission or do some research on the Internet.

 

6.     Now that you have chosen a reasonably priced homeowners insurance company, you may want to have them continue as your insurer for many years to come. They may be a great company and they may continue to be reasonably priced.  Or they may not. Companies change rate structures all the time.  Therefore, every couple of years it pays to do a little checking to see if significantly better rates are available elsewhere, and if it makes sense to change companies.  But beware.  Changing companies too often may limit your ability to get homeowner’s insurance if you reside in a high risk area such as coastal areas, etc.  And make sure you do not drop your present insurance until your new policy is in effect.

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