Minnesota Realtor Alex Anderson

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Getting the Right Insurance for Your Home

Insurance is one of those things you hope to never have to use but you’re sure glad you have it when something does happen. And if something does happen to your home, whether simple or catastrophic, it’s going to be a good feeling if you are insured properly. Likewise, you’re going to have a very bad feeling in your stomach if you realize you were not insured the way you should have been.

There are MANY things to consider when shopping for insurance. The area where your home is located is one of the major things to think about. What natural phenomena is your home susceptible to in your location? You had better make sure you’re covered for them! Whether you are in a flood plain, tornado alley, right under a volcano or in a heavy hurricane zone, you will want to be insured for the potential future damage.

Another important factor to consider is the cost to rebuild your house. Maybe you purchase your home for $150K; that sure doesn’t mean you could build an identical house today for the same amount! But if you’re only insured for that much, that’s the maximum of what the insurance company is going to pay out!

Every owner, location, and home is unique. So it’s important to find the right insurance for YOU! Talk to friends and family to see if they have trusted insurance agents you can speak with. The key point is “trust”. You want to be adequately insured, but you also don’t want to be OVER insured; your pocketbook won’t like it! If you find an insurance agent you trust, together you can narrow down the right insurance for your situation. Feel free to shop around and compare too. Insurance companies these days are rather competitive and each has slightly different criteria to qualifying people, so you get the average rate at 4 companies and a discounted rate at company #5 – use that to your advantage as long as all other factors are acceptable to you.

And if you already have some auto, home or other insurance in place, keep in mind you may be eligible for discounts by having multiple policies with the same company. Typically insurance companies give greater and greater discounts the more things you have insured with them, making it difficult to stray from their service once you’re in.

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