Home insurance policies are not created equal. You’d think they would be. After all, if you’ve read one insurance policy you’ve read ‘em all, right? Wrong. And if you don’t find out for yourself by comparing home insurance policies on a regular basis, you could be shafting yourself out of some pretty deep savings.
The first thing to look at when comparing home insurance policies is your level of contents coverage versus the actual value of your belongings. It’s quite possible that you may be woefully underinsured for a particularly expensive jewelry collection, for example, in which case you’d be up the proverbial river if you should ever be unlucky enough to experience a burglary.
Your next step is to look beyond your existing policy, and consider how much money you could save by switching insurance providers. Experts recommend reviewing your policy’s coverage once per year, and comparing your policy line by line against at least two other insurance providers. Even if you find no significant savings or differences, this will at least give you the assurance that there are no severe gaps in your existing policy.
The last step in comparing policies and coverage is to ensure you’re being given an accurate insurance quote. If you use an online estimator, be sure to provide as much information as possible about your coverage needs. By leaving some important bit of information out, it could have the effect of changing your quote dramatically when the time comes to finalize your policy.
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