Building Your Personal Insurance Policy: Questions to Ask (2 of 2)

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Continuing from our last post on auto insurance policies, Miller’s personal lines agent, Bryan Gift, shares his insight on what questions individuals and families should ask their independent agent when building or updating their home insurance policy.

Recap: Bryan has been in the insurance industry for 12 years, and a part of the Miller’s team for almost nine years. He works closely with individuals and families on a daily basis to build and evolve their personal insurance policies to properly address their needs and work within their financial situations.

Below are several questions relating to homeowners insurance that Bryan recommends asking your independent agent:

Homeowners Insurance Questions:

  • Do I have replacement cost coverage on my house? Am I under-insured?

            Asking this question will tell you if you will get the same amount on your home now, as you would have in the past, if your house is damaged.

  • Do I have replacement cost coverage on my personal items? Am I covered for today’s prices if I were to lose my items, such as jewelry and other valuables?

            Similar to your home, you want to make sure you will receive the amount your personal items are worth today if they are stolen or damaged.

  • What is the value of higher deductible vs. lower deductible? What can I afford?

Just as in auto insurance, it’s important to weigh your options depending on your individual situation.

  • What are your multi-policy discounts?

Again, you want to make sure you’re taking advantage of opportunities to bundle policies.

  • Is there anything I should list separately? Is there anything that has a specific price value that I would want insured for that dollar amount?

Personal items, such as jewelry and other valuables may have a separate price value that you want to insure separately to make sure your belongings are properly protected.

  • Are their special needs specific to my home, such as flood insurance or other unique needs?

The more details you can provide to your agent, the better designed the policy will be.

  • What is the best carrier that meets my needs, especially if I need to make a claim?

Working with an independent insurance agent gives you the opportunity to review options from multiple carriers, but do your homework on the carriers with the best products, reputations and claims services.

In addition to ensuring each customer is treated individually, independent insurance agents need to put themselves in the customers’ shoes to make sure there are no lingering questions and that they can feel confident about their decision.

While there are many options for customers, you can take an active role in your personal insurance policy to meet your needs.

This process doesn’t stop after you’ve selected your first policy. It is important that you continue to ask these questions at different stages in your life, as your coverages should evolve to reflect your individual needs and situation.

What’s important to you?

What other questions are important to ask your agent when purchasing personal insurance for the first time, or at different times in your life? What else can independent agents do to assist you on choosing the best personal insurance coverage?

Additional Resources:

Call a Miller’s Insurance Agent Direct: (610) 269-4500

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