Finding the right balance of cost and coverage can be tough
when shopping for home insurance. We all
know, the less you pay, the less coverage you get, but can sacrificing coverage
be the smart thing to do? Often time’s
claims are filed for minimal damage, the result is the home is fixed, but then
premiums go up, affecting long term cost.
One opinion states that claims shouldn't be made for damages costing up
three times the deductible. This
increases out of pocket expenses but keeps premiums low. Insurance isn't meant to cover the small
stuff, it is meant to cover the large events.
The
next time you meet with your insurance agent, make sure to find out what coverage
you have and what is still needed. Often
we have coverage for something that isn't necessarily needed and are lacking
coverage that is more important to us. A
good insurance agent will help you decide what coverage you need and what you
can take out. Insurance policies can be
changed and tweaked so that you get the right amount of coverage for the right
price.
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