Selecting an insurance company to provide quality homeowners insurance is an important decision. A company that offers homeowners insurance should be financially committed to honor your homeowners policy when you make a claim, be honest in guiding you into the right coverage, and be able to demonstrate a track record of customer service. A fire, flood, storm, or other covered damage can financially destroy you and your future will depend on a swift and sure response by your insurer.
There are several considerations to keep in mind when youve decided its time to find a top homeowners insurance agency.
Make Sure the Company has Enough Resources to Back You
First and foremost, the insurance company should be an established company with more than enough assets to meet not only your needs but those of thousands of other insured clients. A catastrophic disaster can involve thousands of customers, all of whom have been paying for their coverage and have the legitimate expectation that the company will pay their claim. The last thing you want to see is a letter from your insurer announcing a bankruptcy when youre trying to collect on the promised coverage.
Contact the company directly and ask for a financial statement concerning their assets and viability. Insurance agencies with nothing to hide will be more than willing to answer your concerns.
Does the Company Pay Claims Promptly and Completely?
After youre certain youre buying coverage from a nationally known and financially secure provider, check on their reputation for paying claims. You can start with folks you know that have made claims and ask if the claims were paid promptly and in full. Were there denied claims based on exemptions that had never been explained? Are the customers satisfied? Companies understand that customer service is critical to their success and will make the payment of claims a priority. Other companies are less concerned about customer satisfaction and should be avoided.
Both Friends and the Internet Can be a Good Source of Information
The cost factor for your homeowners insurance is another important consideration. Local recommendations are a great way to get to the bottom line. Ask your friends, neighbors, and co-workers who theyre insured with and what are their homeowners insurance rates. Service isnt the only factor that should come into play during a decision concerning home insurance coverage. A policy that costs more than you can afford will be a long-term financial burden. If your friends are reporting good service along with an attractive price, thats a company you should be considering.
The internet can be another source of solid information about insurance companies. It can also be the source of misleading information or outright fabrications. You cant tell just by looking at a website, of course, but rest assured that legitimate companies use the internet along with the less-than-ethical ones. There are several websites where price quotes can be obtained from a variety of companies and comparisons in cost and coverage can be made. The internet can generate a lot of leads when youre looking for homeowners insurance but you should always remember that in the world of internet purchases, you should always avoid whatever looks too good to be true. Your internet search can get you started but make sure you thoroughly check out any company youre thinking of buying a policy from if youre unfamiliar with it.
The safest way to utilize the internet is to contact established companies on their home websites. Call them directly for quotes and information. You will likely be referred to a local agent which is all the better. This is one way to ensure that you know who youre dealing with and to make certain the company youre considering is a legitimate one.
The phone books Yellow Pages is an old standby that can put you in touch with the best companies in the business. Insurance companies have historically relied heavily on advertising to draw in new clients and the Yellow Pages is one way that has proven itself to be profitable over and over again. The advertisers are usually local agents. A phone call for an appointment can land you in the office discussing your homeowners insurance needs and you can assess firsthand the way the agent conducts himself and his business.