Your Invisible Homeowner’s’ Insurance Policy
It is mysterious and can be difficult to understand. You may have had it for years and never gave it much thought. Your bank or mortgage company may have required it but once you get it, it can simply be forgotten. That is until, of course, you need it. Then it can help or haunt you. We are talking about the amazing, disappearing and invisible homeowners’ insurance policy.
What puts homeowners’ insurance into this invisible category? There are several factors.
It is Purchased Infrequently
Many homeowners only purchase a homeowners’ insurance policy when they buy their home. They may even buy it over the phone or online without a full understanding of what they are saying “yes” or “no” to. It is also a very busy time when tons of documents are being filled out. Homeowners’ insurance likely doesn’t get the consideration it deserves before being acquired.
Paying for it may be Automatic
Since many pay for their homeowners’ insurance premiums through their mortgage payments, some homeowners may not even know how much they are paying for coverage. They may not know who their provider is. It is less likely they know the coverage, deductibles, and limits of their policy.
It is Seldom Used
Only about 1 in 20 homes will make a homeowners’ insurance claim in any given year. Only about 1 in 50 sustain wind or hail damage. Even if minor damage occurs, many will pay to fix it themselves as opposed to paying their deductible and filing a claim.
Dangers of the Invisible Homeowners’ Insurance Policy
Your invisible homeowners’ policy can actually be a bit scary and even costly. It may not cover you for certain calamities like flooding or earthquakes. Your home’s value may have outgrown your coverage and you may even be overpaying for it. Out of sight often equals of out mind. How can you resolve this troubling issue of invisible homeowners’ insurance? Get a no-cost, no-obligation insurance review.
A review of your homeowners’ insurance policy brings your policy out of the shadows. You will no longer be haunted by unknown coverage or the thought of overpaying. You can feel good knowing you have sufficient coverage at the best possible price.
Think about your homeowners’ insurance coverage for a minute. If you are drawing a blank, it could be a sign you have invisible homeowners’ insurance. Contact us for an insurance review and put a new focus on your coverage.
