The rules have changed regarding Homeowners Insurance.
In years past
no matter how many claims policyholders had the insurance
companies almost never declined to renew your coverage or raised your rates as a
result of claims. Tougher times for
property insurance carriers suggest a more strategic insurance approach for
homeowner consumers. Collecting
$500 for a stolen bicycle may no longer be effective over the long haul for your
homeowners insurance claims record. Since
there are repercussions to making claims, why not have higher deductibles? For our agency’s customers with homes valued at over
$225,000 we have found the $1,000 deductible to be the best value.
Jewelry coverage is very critical. Most insurance plans have limited package coverage for this valuable and usually sentimental possession. Review this coverage rigorously to properly protect items that tend to be high-risk for theft.
Water damage claims are on the rise. It is good maintenance to have sprinkler systems "blown out" in the fall, swamp coolers drained and exposed plumbing insulated. Be sure you request the upgraded sewer and drain coverage on your homeowners insurance. Address small plumbing leaks quickly. If mold starts, treat is aggressively with a bacteria killing agent.
Farmers is proud to offer Identity Theft coverage. A $15,000.00 amount costs $25/year.
When in doubt about the amount of coverage to insure your home, talk to our office (303 814-2292). Our Marshall & Swift property cost estimator is very accurate.