Colorado Homeowners/Renters: Choose the Right Insurance Policy for You
Springtime brings some crazy weather, and with it, we start thinking about whether we have the right home insurance policy or not.
Understand Your Policy
Why do we get insurance policies? Because they are supposed to provide a sense of security. In the case of an event that damages your home, you want to make sure you have the best coverage so you can breeze through that situation and get back on your feet.
When getting a home insurance policy (or any insurance policy, for that matter), the easy thing to do is to assume it’s right. You’ve already signed. What else is there to do? Don’t get too comfortable. Make sure you take the time to speak to your agent to understand what is covered by your homeowners or renters insurance policy and what isn’t. Don’t just sit there and wait for a disaster to come before you decide to dive into that topic. It might not be super fun, but it’s worth doing.
According to an NAIC survey, more than half of Americans said they don’t have a list of their possessions. Without an accurate inventory, you may not have the right homeowners or renters insurance coverage, and you may forget to claim items lost in a fire or robbery. It’s also important to update your list every year.
What Type of Coverage Do You Have or Need?
Note that renters and homeowners insurance are different. A renters policy will only insure content, whereas a homeowners policy insures the building as well.
- What happens if someone breaks in and steals everything?
- Are you covered in case of a fire?
- Does your policy have your back in case of a flood?
- What about explosions? Are you covered?
- What if there’s an earthquake, tornado, hurricane or hail?
There are different types of coverages under a standard homeowners or renters policy, and policies vary from company to company, so be sure you read and understand yours.
How Much Do You Know About Your Policy?
Even if your answer is “not much,” we still have good news for you. At AAI Central Agency, we work to provide our clients the best possible experience. Talk to your agent now, or contact us if you have questions about any of our services.