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Searching for Home Insurance

 Choosing a reputable and loyal home insurance company can be as equally important as identifying business associates and developing long-term friendships. If you are unable to identify the right company and secure the best type of coverage, to meet your needs, exposure to devastating financial losses could be the end result. There is no perfect way to find the right fit of a company that will work for everyone. Home insurance is definitely not a "one size fits all" type of product, so here are some helpful tips from that will hopefully steer you in the right direction.

The first step in selecting a prospective company for a long-lasting relationship is to locate and verify one whom you feel you can trust. Most "experts" will tell you to search for three different companies and compare identically matching deductibles and coverage specifics. Those "experts" will very likely be on the payroll of the companies which provide the lowest prices for coverage, by coincidence, of course. Exactly like your circle of friends and business contacts, trust is the key element which should be considered before signing on any dotted line. Ask the question "what would happen if I lost everything in a major catastrophe?" Would the company be honorable and pay quickly and without hassle during a time of crisis, or would they delay payment and attempt to settle for much less than the cost of the loss, by looking for loopholes? Many companies who provide the least expensive costs for coverage are able to do so because they pay the lowest percentage of claims at lower settlement averages than others. The lowest bidder may not be the right one. 

How do we find trust in a company when we know little or nothing about them. It is relatively simple to find a wealth of information, which is positive, on practically every home insurance company, they invest heavily to keep that information as visible as possible. We can believe everything we read on the web or see on television or we can ask the opinion of people whom we know and trust. Ask who they have used and if they have had any claims and would they recommend them to you as a friend. Your center of influence will often be your best source to help steer you in the right direction in many aspects of daily life, even sorting out insurance companies. It never hurts to check Better Business Bureau reviews. Top 10 lists on the web are often written by people working for the insurance company with the highest rating or controlled by donations or influence. It really doesn't matter what your deductibles and coverage specifics are, if your insurer pays little or nothing in the time of a loss. One hundred percent of nothing is still zero. 

Believing slogans is another way to certainly get burned. I have heard first hand horror stories on many occasions that "being a good neighbor" does not necessarily mean they will always be there when they are needed. Even those with the "best hands" drop the ball on many occasions. If you can find an agent whom you know or close contacts may recommend, it might not hurt to check with them first. 

Beware of missing details of items which are not covered, floods, earthquakes, etc. Beware that paying the difference in premiums for lower deductibles may be higher than the difference deductibles which you may never use. Why provide an insurance company with an interest free loan? 

Like virtually any aspect in life your home insurance company can be a great asset or a huge liability. It never hurts to shop policies and compare ratings on a regular basis. Even after finding the right company for the perfect coverage, remember they are only the best at a specific moment in time.