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3 Questions to Ask When Shopping for Homeowners Insurance

Whether you’re buying your first home, moving to a different house, or need to find a new insurance policy for your home, buying insurance for your personal property is serious business. There are a lot of factors to consider. Price and coverage are the first things to come to mind, but there are many other nuances to each individual insurance policy as well. The key is to ask the right questions to get a good value when buying homeowners insurance. Massachusetts-based A-Affordable Insurance recommends you ask these three essential questions when you’re shopping for insurance for your property.

1. How Much Would It Cost to Rebuild My Home in the Event of a Total Loss?

A good rule of thumb is that your homeowners insurance policy should cover the cost of building your home from scratch. Using information about home prices in your area, the materials your home is built with, and other factors, an insurance agent can accurately calculate this cost and determine how much coverage you’ll need. Take note that while a standard policy can cover partial or total damages from storms, fire, hail, burglary, and others, damage caused by flooding or earthquakes isn’t covered.

2. What Sort of Additional Coverage Do I Need?

Homeowners insurance policies typically need to have additional coverage plans for flooding and earthquakes if you need that sort of protection. It’s a good thing to consider if you live in an area that is prone to these sorts of disasters. You also should think about personal property like jewelry, art, and other valuables, as your policy will likely have a limit in place for replacing these items in the event of a loss.

3. What About Additional Living Expense Coverage?

This one is often only a secondary concern, but it is worth considering in the event of a worst-case scenario. If your house is heavily damaged or completely destroyed by a fire or natural disaster, your insurance policy may cover the cost of repairing or replacing it. But in the meantime, you will likely have to stay elsewhere and incur a higher cost of living. Additional living expense coverage, or ALE, provides the necessary funds while you’re out of your home. When you’re trying to get the best value in homeowners insurance, you should ask about ALE coverage.

Bonus Question: Do I Qualify for Any Discounts?

Sometimes insurance companies offer incentives to protect your home. Smoke detectors, security systems, deadbolt locks, and other common safeguards can net you a discount on your premium. Also, some companies offer discounts to retirees or those who have done recent renovations to their home’s plumbing or electrical systems. Be sure to check with your insurance provider.

Insure Your Massachusetts Home with A-Affordable Insurance

No matter your home, budget, or other special concerns you might have, insure your home with A-Affordable Insurance. We work with several insurance carriers and know the right questions to ask to get you great quality and affordable homeowners insurance. Massachusetts residents have relied on A-Affordable Insurance since 1984. To learn more about homeowners insurance or to request a quote, contact the A-Affordable Insurance location closest to you today.

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