Today while eating lunch with Michael Bange a insurance professional with Allstate and a veteran with 20+ years in the business it occurred to me that I know very little about home owners insurance. I have a feeling many of you are in the same boat as me and maybe afraid to ask or just to busy to schedule time for that dreaded 1 on 1 meeting with your agent. Here is a few questions that I had and I hope you find this helpful.
Dustin: Does Alabama Require Home Owners to have Home Owners Insurance?
Michael: The answer here is yes and no. If you have a mortgage the lending institution is going to require you to carry adequate coverage to cover the mortgage. However, if you own your home free and clear with no mortgage it would be totally up to the home owner.
Dustin: Is it smart for me to shop rates even though I am comfortable with my agent?
Michael: Absolutely you should check for peace of mind. But at the end of the day there is more to insurance than just rate. Protection is the most important issue. Plus the customer service your agency provides.
Dustin: Is personal content covered in a policy? Including Rare Items (Fur, Jewelry, Antiques)
Michael: This is something that each agent should go over with every client. Most policy will cover content to some extent. But these contents have limitations on them and you should review with your agent to make sure the rare and expensive items are covered. This is something that varies policy to policy.
Dustin: How often is a policy review needed?
Michael: At least once a year. Typically this takes 10/15 minutes to review any changes in circumstances.
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