Are You Making These Costly Insurance Mistakes?

1. Are You Making These Costly Insurance Mistakes?

2. Making a mistake with your insurance can cost you. Here’s a list of common missteps that can land you (and your pocketbook) in big trouble if you’re not careful. Underinsuring your home. As home values appreciate in your neighborhood, you may find yourself underinsured — especially after making major renovations. Insure your home for the cost to rebuild it, and not its current market value. Review your home’s value with your We Insure insurance agent on a regular basis.

3. Selecting an unaffordable deductible. Choosing a high deductible can save on your monthly premiums, but it’s not a good idea if you can’t afford big upfront costs when disaster strikes. Be sure you have enough money in an emergency fund to cover your maximum deductible should the need arise. Assuming all your belongings have coverage. Basic homeowners policies routinely exclude a number of items, including jewelry, electronics, artwork, cash and collectibles. The list can vary from carrier to carrier. Review your policy with your agent to make sure you have coverage for all of your valuables. You may need to purchase an additional rider to cover some of these items.

4. Not shopping around. Depending on where you live, We Insure can compare prices from up to 100 top-rated carriers. This can result in substantial savings on the coverage you need. We’ll do all the legwork for you and give you an apples-to-apples competitive quote for your home, auto, business, RV, boat and other policies you need. Buying the least expensive coverage. While there’s nothing wrong with shopping around for a good deal, if you let price be the only deciding factor, you might end up with insufficient coverage, or a policy from an insurer that’s not on solid financial footing. Customer service is an important consideration as well. Be sure to balance price with features and service when shopping for a policy.

5. Ignoring flood risks. Flood insurance is relatively inexpensive and covers a peril that most homeowners insurance policies exclude. Check to see if your home is in the flood zone by consulting the National Flood Insurance Program (NFIP). Buying a bare-bones auto policy. Purchasing the minimum amount of liability insurance may put you in a bind should you ever face a lawsuit after an accident. State-mandated minimums are just that – minimums. Depending on your financial circumstances, it may be advantageous to obtain additional coverage.

6. Neglecting to ask about discounts. You can often save money on your premiums by documenting that you have an antitheft system in your car or monitored security in your home. You may also save by bundling homeowners and auto insurance policies with the same carrier. A We Insure agent will be happy to check for all available discounts for you. We Insure offers competitive rates on top-rated homeowners, business, boat, and RV insurance products, among others. Our friendly and knowledgeable agents will give you a fast and free competitive quote for all your needs. All insurance is not the same, and service matters. Call your local We Insure independent agent today.

7. We Insure Miami was founded on the principle that every individual and business, big and small, has assets and valuables that need to be protected and insured against forces outside of our control. We offer Auto, business and homeowners insurance in Miami FL. Our agents understand that you work hard every day to protect your car, home, business and family. WE are passionate about Insurance and passionate about serving you. If you are looking for auto or business or home insurance companies in Miami, contact us for a quote or a complimentary review of your insurance policies.