What to Look for When Reviewing or Purchasing Home Insurance

Cindy Payne, our guest blogger, has been working with Liberty Mutual Insurance for over 20 years.  She has been recognized for her excellence in the sales department in Liberty Leaders, Liberty Life Leaders, and Liberty Elite.  When it comes to home insurance knowledge, Cindy is truly an expert!  It’s a great idea to review your home insurance policy to be sure you have the coverage you need.

When is the last time you reviewed your home insurance policy? Usually your home is your biggest asset and most often, people are not sure if they are insuring it properly. Do you know your coverages? One of the most important things to have is replacement cost on your house and on your contents. This ensures that your home would be replaced if you were to have a total loss. Replacement cost is very different than market value. Have you done an analysis with your agent to make sure you are insuring your house correctly? Replacement cost on contents replaces your personal property if you have a claim instead of depreciating it. Do you have good liability protection in case you are sued personally? Liability is part of your home insurance and most people need a minimum of $500,000 today.  If you have a lot of assets, you may need a million dollar umbrella for the extra protection. Do you need flood insurance, sump pump coverage, expanded jewelry coverage, identity theft coverage, or earthquake coverage? These are all extra riders that are normally not on a  home policy and need to be added.

Are you getting all of your discounts?  You may qualify for extra discounts if you have any of the following:
    • Extra discounts when you have multiple policies with the same company
    • Good or excellent credit discount
    • Non smoking discount
    • New home (built within the last 10 years)
    • Older home with upgraded roof, plumbing, heating or electric
    • New purchase discount
    • Claim free discount
    • Alarm credit

As an agent with Liberty Mutual for the past 21 years, please feel free to contact me with any questions or a no obligation review of your current insurance at cynthia.payne@libertymutual.com or on my cell at 315-412-3800.

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