Why You Don't Want to Leave Your Home Insurance Coverage to Luck

Well, we've seen St. Patty's Day come and go.

You've heard a lot today about the luck of the Irish.

Say what you want about luck, but one thing we know for certain here at Arrow Insurance Agency,
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When it comes to properly protecting your home from disaster, you don't want to wish on a rainbow.

It's something you have to be proactive about and make sure you have the best home insurance coverage for your home and your family.

Having proper home insurance in Georgia is incredibly important.

Unfortunately, many homeowners underestimate the amount of coverage they need—which can lead to major financial losses in the event of an unexpected disaster.

From tornadoes and hail to wind damage, fires, and more, home insurance policies provide financial protection against a variety of potential home damages.

Not only does home insurance protect against property damage but also liability costs that may arise if someone is injured on your property.

With so much riding on a home insurance policy, it’s vital to ensure you have enough coverage for your home in Georgia and don’t leave yourself vulnerable to costly out-of-pocket expenses.

Do You Have Enough Coverage?

There are several ways that homeowners in Georgia can underinsure their homes:

Failing to update their policy

Many homeowners purchase a home insurance policy when they first buy their home and then forget about it. Over time, the value of their home and possessions may increase, but they fail to update their policy to reflect these changes. As a result, they may be underinsured if they experience a loss.

Insuring for market value instead of replacement cost

Homeowners may mistakenly insure their home for its market value rather than its replacement cost. The market value of a home includes the value of the land, while the replacement cost only covers the cost of rebuilding the home. This can result in the homeowner being underinsured if the cost of rebuilding their home exceeds its market value.

Not considering additional coverages

Homeowners may overlook additional coverages that could be important in the event of a loss. For example, they may not realize that their standard policy does not cover flood damage or that they need additional coverage for valuable possessions.

Not understanding their policy

Homeowners may not fully understand their policy and what it covers. They may assume that certain types of damage are covered when they are not. This can result in underinsurance if they do not have coverage for a particular type of loss.

Choosing a lower deductible

Homeowners may opt for a lower deductible in order to save money on their premium. However, this can result in underinsurance if they are not able to pay the higher out-of-pocket costs associated with a higher deductible in the event of a loss.

Not knowing the fine print

It’s also important to read through the fine print on home insurance policies to ensure there aren’t any exclusions or limits that would leave you unprotected.

While proper home insurance is an added expense, it offers major peace of mind when it comes to protecting yourself financially against unexpected disasters or injuries on your property.

With all of this in mind, don't leave home insurance to chance—make sure you have the right coverage for your home, and don’t leave yourself vulnerable to unexpected costs.

We always look to shoot straight, so contact us here at Arrow. We call Loganville, Georgia home and make it our aim to keep you covered!   

Zaheed Hussain

Co-Owner/Licensed Agent 
Our aim is to hit the bullseye every time when it comes to providing our clients with the best insurance coverage available at the best value

​​Phone: (770) 692-7500
Email: [email protected]