Things to Consider When Purchasing Home Insurance

One of the major tests for home insurance agents is how they handle claims, according to Consumer Reports. At Dern & Company’s in Milwaukee, WI, our home insurance agents provide a highly satisfied level of service to their clients. Consider the satisfaction reports of the company before you purchase your policy, as low-rated insurers tend to have low-satisfaction reports, and claimants often feel like their claims’ damage estimates and final settlements are too small or not handled in a timely manner.

Often, an insurer and a claimant don’t see eye to eye on damage amounts or how a claim should be handled after a qualifying event. Do your homework before you buy, and make sure you’re buying the right insurance for your situation. Jeanne Salvatore, vice president for consumer affairs at the Insurance Information Institute, recommends making sure you’re covered for the structure of your house, your most valuable belongings, your liability to others, and your living expenses if you’re forced to make your own home livable and/or living somewhere else while your house is being renovated or repaired (or, worst-case scenario, rebuilt.)

Most common levels of coverage:

  • HO-2: Broadly protects against 16 major perils

  • HO-3: A slightly broader policy that protects against all perils, except those specifically excluded

  • HO-5: This is the most common level for newer, better-maintained homes, and covers most perils*

  • HO-6: Co-Ops and Condominiums have different insurance needs, and usually need to include personal property coverage, liability coverage, and improvements to the owner’s unit

  • HO-7: Mobile Homes need specific insurance, and insurance for them usually protects against most perils*

  • HO-8: Older homes usually need to be insured differently than newer, differently-built homes. Read over what your policy covers – some only cover the cash value to replace the structure itself, while others also cover personal property

*(except those specifically excluded)

In Milwaukee, WI, Dern & Company has a variety of coverage options that will help you ensure that your property is protected to your satisfaction. When you’re ready to buy and want the best level of service possible, Contact Us. We can get you a quote or you can try our online rating tool to get a quote from home.