Home Insurance Tips

Updating your homeowner’s insurance doesn’t have to be complicated. Consider a few helpful tips that will make you feel knowledgeable and protected.

Start With A Local Agent

Let a local, independent Mel Foster Insurance agent gather and compare insurance quotes from multiple carriers for you. The agent will assess your home coverage needs to help you avoid potential gaps in your protection.

Know The 80% Rule

The 80% rule means that an insurer will only cover damage costs to a house if the owner has coverage equal to at least 80% of the house’s total replacement value. If the coverage is less than 80%, the insurance company will only reimburse a proportionate amount of the required minimum coverage that should have been purchased. Because improvements to a home and inflation affect home values, homeowners should review their insurance policies periodically to ensure their coverage meets the 80% rule.

Bundle Up

Talk with your Mel Foster Insurance agent about bundling, or determining what discounts apply if you also purchase additional policies such as auto or life insurance. Bundling can help you save money on your premiums.

Maintain Home Inventory

An easy way to maintain a home inventory is to take pictures of each room of your house every year. That may mean making it a habit on New Year’s Day. Photos of your belongings will make a significant difference if you suffer an accidental loss.

You Get What You Pay For

The cheapest coverage isn’t always the best. When comparing insurance quotes, look carefully for different coverage dollar amounts and always read the fine print. The lowest priced option may not give you the coverage you need. The goal is to put coverage in place that safeguards your valuables while providing peace of mind.

Find more insurance tips.

After The Storm: What To Do When Your Home Is Damaged.

The first thing you need to do is assess the damage to your property. Always be sure that you aren’t in danger and that the storm is completely finished. Start by checking the outside of the home for any damage to the roof, siding and windows. You should also make sure that there are no downed trees or power lines in the area.

Step Two: Call Your Insurance Agent

After you have assessed the damages, your next step is to call your insurance agent to report any damage. Be ready to describe the situation and all of the damage that occurred. Make sure you also have your policy and account numbers ready when you call to speed up the process. Click here to find your Mel Foster Co. Insurance agent.

Step Three: Document The Damage

Before you begin making repairs, make sure you document the damages with photographs. This will prove that the damage actually occurred and will help your insurance agency help you. Once you have documented the damage, make your home safe and ensure no further damage is caused. Keep receipts for any work or materials that you are purchasing to repair your home. It’s important to note that if you must leave your home you should also keep receipts for hotel rooms and restaurants. Depending on your insurance policy, these expenses may also be covered.

What do I do after a storm hits?
What do I do after a storm hits?


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