Home insurance can be daunting and many clients aren't fully aware of what it means. So, here are some tips and tricks to help agents fully educate their clients!
Breaking Down the Policies
First things first, clients need to be aware of what their policy covers. Natural disasters? Accidents? What about broken appliances? There are so many options on what a home insurance policy can cover. Fires and liability insurance can often be covered in case someone was to be injured on the property. Some policies even cover hotel stays if residents are displaced due to an event!
It's just as important for clients to know what isn't covered. Some policies don't apply to broken A/C units past a certain date. Some policies don't apply to flooding unless a premium is payed. This can also be subject to location. Is the client's new property in a fire hazard area? Or has the area flooded before? This is where agents step in and guide clients.
Finding the Best Home Insurance Rate
Be sure to guide clients to shop around for their home insurance. Different companies have different rates and policies and chances are that some will be a better fit for the client than others.
Shop around, ask questions, and negotiate whenever possible. Look into bundling with your car insurance, etc. - and decrease your risk of liability as much as possible. This essentially means, have everything in working condition.
Once You've Decided
Once you've decided on a policy be sure to follow these best practices:
- Keep everything in the home in as best shape as possible.
- File claims ASAP as some categories have time thresholds, etc.
- Keep a record of everything, always
Remind clients that owning a home is a great and exciting time that comes with added responsibilities upfront. Most likely, once clients have settled on a great home insurance policy, they won't have to worry about it again for a long while. But, the policy is there when the unexpected strikes.
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