Homeowners Insurance Report Harvey, La 70058
Understanding the homeowners insurance needs of Harvey, La residents is what we do.
Here is a recent customer we helped.
NEED: Customer called recently and needed a home insurance quote because he believed he may have been paying more than his neighbors for insurance.
He had no claims, but his insurance premium was going up over 25% a year for the last few years and he didn’t understand the reason.
PROBLEM: Renewal offer received and the premium was now over $4,000
NEEDS ANALYSIS: We were able to sit down with the customer, review the current policy declarations page and determine some issues.
1) He was sold an owner occupied rental dwelling policy or a Dwelling Three policy
The owner occupied dwelling policy takes away coverage
- No replacement cost on contents (subject to depreciation)
- No Theft coverage on contents
- No water backup coverage
2) The Liability limit was only 100,000.
We recommend at least 300,000 for two reasons.
a) You can qualify for a 1,000,000 umbrella policy for a minimal annual cost and with litigation expenses on the rise every year, 100,000 is not enough to protect your assets.
b) The cost of increasing your liability from 100,000 to 300,000 could be less than $25 per year
3) He was paying too much for homeowners insurance.
On a 323,000 house in a gated community like Barkley Estates, his current insurance agent and company were not including discounts that were available to him.
4) He has a Named Storm deductible instead of a better Hurricane Deductible
Tropical storms cause a higher amount deducted from a claim check.
ADDED VALUE TO CUSTOMER:
1) Reduced premium from $4,320 to $3,128 without lowering the insured value of the home at 323,000.
Savings of $1,192 annually
2) Provide a better Hurricane Deductible instead of Named Storm Deductible
3) Provide a complete HO-3 replacement cost homeowners policy instead of an owner occupied rental dwelling policy to the customer to fully protect them from future claims.
What’s this all about?
Buying homeowners insurance can be an easy process as long as you understand what you are buying.
Local insurance agencies will chop up a policy to lower the premium so they can sell you the cheapest option.
You can be fully protected at an affordable premium when you are able to speak with someone that understands the neighborhoods in Harvey.
Are you currently getting all the discounts on your home insurance policy?
How about a hip roof discount?
Flood, Umbrella and Auto companion discount?
You may be giving more money to the insurance company than you need to.
Keep more of your money instead of giving it away to an insurance company.
My name is Tim D’Angelo and I would like the opportunity to speak to you about your Homeowners Insurance in Harvey, La 70058.
Give me a call at 504.348.3131 or send me a quick quote request so I can set up a convenient time for you to talk about your current policy.