Your home is likely one of your most significant investments, so protecting that investment is critical. Avoiding certain home insurance buying mistakes can guard against frustrations and financial losses later. Our JC Demo Insurance Group team, serving the Matthews, NC area, will work with you to avoid those mistakes and structure the insurance coverage to meet your needs best.
Penny Wise and Pound Foolish
One set of mistakes related to home insurance occurs while buying the policy:
- Ignoring exclusions: Confirm what is and is not covered, such as flood and wind damage, and upgrade as needed.
- Underinsuring belongings: Don’t underestimate the value of your possessions, including jewelry, art, and collectibles.
- Choosing high deductibles: High deductibles can be smart and save money, as long as you have the cash to cover them.
- Underestimating your liability: Consider the risk of accepting the minimum liability coverage.
- Misrepresentation: The failure to tell your agent about your trampoline, dog breed, or home rental may result in a lack of coverage if an accident occurs.
- Not bundling and comparison shopping: Consolidating and comparing your home, auto, and other policies can save costs.
Mistakes that occur after the policy is in force include:
- Underinsuring your home: Home improvements and fluctuations in home prices and building costs can lead to undervaluing the replacement cost of your home.
- Not maintaining a home inventory: A detailed inventory of your belongings, even videos created using your mobile phone, is critical when you have a claim.
Working with JC Demo Insurance Group
Each client has unique home insurance needs. JC Demo Insurance Group, proudly serving the Matthews, NC area, can help you avoid mistakes and protect your home and family against unforeseen events. Call or stop by today to discuss your condo insurance options.