Does an inspection need to be completed?
Yes. Carriers will complete and review an inspection of the property AFTER the policy effective date. Normally this includes taking photos of the residence. Sometimes only exterior, sometimes interior and exterior. A 3rd party will schedule and complete the inspection.
What are they looking for in the inspection?
They are looking for clear and obvious issues with the home that could lead to a claim. Examples include liability concerns like steps without handrails, diving boards, trampolines as well as physical issues like lifting or missing shingles, rotted fascia board or tree limbs in contact with the home.
What happens if my inspection finds an issue?
When the policy has been in effect for less than 60 days and is not a renewal the insurance company may cancel your policy for any reason. If more than 60 days they are still allowed to cancel but it is much less likely and would require a material misrepresentation or a substantial change in the risk.
Will I be notified if the inspection results in a cancelation of my policy?
Yes, the rule of thumb is the carrier will typically provide you between 10-45 days to make the changes they would need in order to continue coverage. Addressing these concerns will minimize the likelihood of a claim, thus saving you out of pocket expenses that would come with your deductible should you have to file a claim. If you are not able to complete the requested changes in the time period it is likely they will cancel your policy. We can work with you to find alternative options in some cases if this were to happen.
I received my renewal and the price went up. What do I do?
Hold tight! We will do the shopping for you! We have access to numerous insurance carriers. Our job is to find you the best priced option each year. That may mean we suggest switching to a different carrier for the upcoming renewal, so don’t fret if you see an increase. Our goal is to get you an alternative quote within 45 days of the renewal. Typically we are going to reach out to you with an alternative before you reach out to us. But you can always call or email us to check in on the status.
I got a cheaper quote from another company.
If another company is offering you a better price/product we will be the first to encourage you to switch away from us. However, often times if you found something less expensive it is because it is not apples to apples or it has been incorrectly rated. The best thing to do is have us review the other quote with you, to make sure you are making the right decision. Often the bottom line may be misleading. We are extremely confident in our rates so we should not get beat, but if we do we will tell you!
I escrow for my insurance with my mortgage company, what does that mean?
A majority of insurance policies may be escrowed through your mortgage company. This means that each month, when you make your monthly mortgage payment, a portion of that payment gets set into your escrow account. At the end of the year your mortgage company has money in your escrow account to pay your renewal. if you are changing insurance companies it is important to understand how this process may be impacted. Lenders tend to pay insurance renewals 3+ weeks prior to the renewal date. Sometimes that means they may pay the old company AND the new company you are changing to. When this happens it is important that you get your refund from the old insurance company, and once you do you need to put that money back towards your escrow account.
Does my insurance renew automatically?
For the most part, yes. Insurance carriers will send a renewal offer between 15-60 days prior to the renewal date if your home conditions still meet their policy guidelines. Normally this renewal offer is mailed directly to you. Only when a payment is made will the policy renew.
What can I expect for a claim?
It is preferred that you reach out to us when you have damage to your home. We can often remind you of your deductible and help guide you to the claims process. We also partner with many restoration companies and contractors who can help you get the damages estimated. We do not fix any of the damages. It is up to you to find a contractor to fix the damages.
Once a claim is filed the adjuster typically reaches out to you within 24-72 hours. They will schedule a time to meet with you to assess the damages. In this time period it is important to try to prevent further damages (tarp your roof, shut off the water to prevent further leaks, etc). Getting a restoration company or contractor to also come out in those first few days is important. That way, by the time the insurance adjuster can submit their estimate you may already have 1 or 2 quotes for contractors to get the work done. Getting a licensed contractor to the property to estimate the damages is just as important as getting the adjuster out there. Often the contractor and adjuster can work together to come up with the proper figures. If you ever have questions throughout the claims process reach out to us.
Does my home insurance cover flood damage?
No – flood insurance would need to be purchased on a separate policy. flood would typically be considered rising water from the ground up due to rainfall accumulation or overflow of a body of water.
Do I have options when it comes to deductibles?
Yes, we can adjust many features of your insurance policy including the deductible. Sometimes it may make sense to go with a higher deductible and sometimes it may make sense to go with a lower deductible. Please ask us about tailored options.