subject: Tips On How To Find A Top Homeowners Insurance Agency [print this page] If you don't have much experience with the Internet, you may be wary about trying to find a homeowners insurance company with a computer. You may have seen the famous cartoon about a dog who sits behind a computer and boasts that no one knows that he's a dog when he's online. True, the Internet can be a source of much damage and misinformation. But if you know how to use it, the Web can actually help you avoid major pitfalls and stay away from scam artists. Believe it or not, the web can actually help teach you how to find a top homeowners insurance agency.
The Better Business Bureau is often considered the gold standard for grading businesses. The BBB grades companies from A+ to F, with A+ being the best and F being the worst. Sometimes a company can have a relatively low grade because it hasn't been in existence very long. You can also learn about homeowners insurance companies by reading online reviews, but these aren't always necessarily reliable. For all you know, a negative comment could simply be coming from a disgruntled former employee.
You can also learn about the financial strength of a homeowners insurance company by checking with some of the major credit rating agencies. These agencies include Moody's, A.M. Best, and Standard and Poor's. It's often common practice for a company to inform customers about the credit rating on the company's website.
Homeowners insurance is more than just about offering you a cheap premium. A truly good company will offer you the coverage you need and won't drop you suddenly in your time of need. For example, one company announced that it would stop offering homeowners insurance to all of its customers in Florida. How would you feel if you had been paying a premium for years and your company suddenly decided to drop you?
Basic insurance coverage includes: fire damage, storm damage, tornadoes and hurricanes, loss of possessions, and liability. Other things that may or may not be covered include: intentional damage that you or a family member have caused, termite damage that you could have stopped, liability due to a dog biting someone, or a terrorist attack. Most customers probably never even considered whether they want to have their houses covered in case of a terrorist attack, but that actually has been up for discussion among insurance companies since the Sept. 11 attacks.
Also, discover how much coverage you have. If you're house is appraised at $110,000, your policy needs to cover it completely. You also want to be aware of how much coverage you have for specific items. For example, if you choose to insure an engagement ring, be aware of how much coverage you would receive if the ring is damaged or lost.
Ask as many questions as possible. Inquire about the rates, the company's track record, and what type of coverage you have. If the policy doesn't make sense, let your agent know. Do not sign until you know what you need and understand what's in the policy.
by: Jim Dempster
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