If you’re shopping for Pennsylvania home insurance, you are going to have to consider many different factors. One of the most important is “what can I afford?”
If you are paying monthly you need to know how much premium your budget will tolerate. If you are considering a higher deductible to lower your premium, you need to be able to afford to pay it should loss be sustained.
Home insurance and your budget
Part of your financial analysis should involve the discounts offered by various carriers. Each one may have a little different discount structure, but almost all will over lower rates for bundling coverage. Some companies will give a new customer discount while others will reward customer loyalty if you have been with them a while. Home security systems, smoke detectors and burglar alarms all may be rewarded in lower premiums prices. Discounts play a big role in your premium price and you will want to check which you are qualified for.
A big-ticket item would be the replacement of your home should it be destroyed in fire or a natural disaster. You will need to determine if you prefer replacement value over market value, as the two are quite different.
There are virtually always exclusions for earthquakes and floods. These will require you to buy additional policies. If you have expensive and extensive electronics equipment, you may need extra coverage, as well. The same is true of pricey jewelry, antiques or collections you may have.
Customer service and home insurance
In a major disaster, such as a storm, customer service becomes a bigger priority than it might seem while you are making a decision about which carrier to sign with. It is very important to understand how the claim process works and how quickly your carrier will respond in an emergency. You can check consumer review sites online to get an idea of how others have worked with the company.
Today, mobile apps are critical to the way customers like to interact. If filing a claim via your phone is something of interest, find one of the companies that offers this service. If you still like to file the old-fashioned way, by mail, be sure the company allows that.
These are some of the major issues you will have to consider as you undertake your review and comparison of various carriers, plans and pricing.