Choosing your home insurance coverage is one of the most important decisions new homeowners make. You may not have even thought about it when you bought your home. You may have looked for the best deal and gone with that policy. Depending on your agent, it may or may not have been the best decision for you. Actually, these days many people buy their insurance online and never even talk to their local agent. This can be an expensive mistake. At Great Michigan Insurance in Marshall, MI, we are independent agents who work to serve your needs and find the best price.
You can review your home insurance any time it seems like a good idea. You can also bring it to an independent agent to look over and access it for you. The most common time for a policy review is before your renewal date. You will get a declaration page that tells you the exact amount of your coverage and all the particulars such as deductibles etc.
When your premium rises
The most common reason to review your home insurance coverage is when you see a significant rise in your premium. Be prepared with last year’s declaration page to see if there is any justification for the increase. Many policies will keep up with inflation, so your home replacement value may have risen. But while you are looking, it makes sense to think about the replacement cost and how it reflections your ability to replace your house in your area.
When you make improvements
Many types of improvement increase your home’s value, and your insurance policy should reflect the new value.
When your financial worth increases
If you are worth more than when you bought your home, take a good look at the amount of liability insurance your policy has. You may want to increase it to reflect your current worth.
Contact Great Michigan Insurance in Marshall, MI to discuss your home insurance needs.
Home insurance: Which coverages should I focus on?
A home insurance policy is a valuable investment for any homeowner in Marshall, MI. It covers a wide range of perils that could easily leave you broke. While there is no way of determining which accidents can happen in your home, it is prudent to focus on the coverages that matter to you most. How? Great Michigan Insurance can help you understand your policy and catch missing opportunities. So, which coverages should you focus on?
This coverage typically covers the floor, roof, and walls from damage. Some of the perils covered include windstorms, smoke, and fire damage. The dwelling coverage does not just protect the structure but also covers the plumbing, wiring, and heating & cooling systems. If you have a big compound with a detached garage, shed, and other structures, you may want to consider buying the other structures coverage to protect those structures.
One of the reasons why many of us purchase home insurance is to protect its contents. Personal property includes Appliances, clothing, furniture, and electronics. It also covers personal items like clothes and shoes. If you have priceless items or items of high value like artwork and jewelry, you may want to get them a separate coverage that will adequately cover them.
Getting sued nowadays is a new norm. You can be sued for just about anything in this society, and your home is no exception. A visitor can sue you for a slip and fall; a neighbor can sue you for a dog bite their son got from your pet, you can even be sued if your son’s or daughter’s friend drives while intoxicated after a party in your home.
Home insurance saves you money that you would have otherwise spent to fix damages or losses. For all your insurance needs in Marshall, MI, contact Great Michigan Insurance today!
Your home and personal possessions likely represent your largest assets. As such, it is important to protect the things you’ve worked your entire life for. Look to insurance professionals that understand the nuances of home insurance to identify how this type of policy can protect you.
If you’re financing the purchase of a home, your lender will require you to obtain homeowners insurance. Even if you don’t finance the purchase, it is still important to get coverage to protect your financial investment. You also want to protect your personal property up to the coverable amount stated in your policy. There are different types of home policies in Michigan depending on your situation and risk profile.
Types of home insurance include:
Broad coverage covers damage to your dwelling and possessions from specific risks identified in your policy. All-risk coverage, however, covers your dwelling and possessions from a larger number of risks, except for threats specifically excluded in the policy. When you visit Great Michigan Insurance in Marshall, MI, you can explore these policies and decide the right amount of coverage given your budget and net-worth.
Whether it is receiving money to replace lost and stolen possessions or having portions of your home repaired in instances of a covered peril, home insurance can protect you and your family. Do not let unforeseen problems disrupt your everyday life – get insurance now.
Home insurance is a necessity on multiple levels and can give you peace-of-mind. To learn more about the benefits of home insurance, please contact Great Michigan Insurance in Marshall, MI today. We are ready to help you mitigate risk and hedge financial exposures.