We at Alliance Insurance Services has seen a lot of our customers in Fort Collins, CO make home insurance mistakes that end up costing them a lot of money. The following mistakes are among the most common, and are frustratingly easy to avoid.
Underinsuring Your Home
Homeowners often underinsure their home under the belief that they can save money by paying for less insurance. This mistake operates under the assumption that nothing bad will ever happen to their home. Unfortunately, when something unexpected does occur, you’re likely to end up with a high deductible or with coverage holes that will cost you a lot more than simply fully insuring your home would have cost.
Assuming You Have Specialized Coverage
In Fort Collins, CO you might assume you have tornado or flood insurance built into your policy. That’s simply not the case. Specialized coverage options typically cost a little more, even in areas where these events are more likely to occur. Read through your policy coverage to understand exactly what you have, what you don’t, and how much it would cost to get those options.
Ignoring Earthquake Coverage
While it’s true that Colorado isn’t exactly prone to earthquakes, they may still happen here occasionally. This is especially true of aftershocks from California-based earthquakes. Though the impact is typically fairly low, it might still cause damage to your home. Without earthquake insurance, you will have to pay for those repairs out of your pocket.
Don’t Make These Mistakes
If you have home insurance and you’re worried that you’ve made any of these mistakes, please contact us at Alliance Insurance Services as soon as possible. We can help you save money by creating a great home insurance policy.