Are you about to sign up for homeowners’ insurance? This can be a difficult task especially if you’re unaware of some of the finer details of what it’s all about. It definitely will pay off if you do a little research and know what questions to ask when you go to an agent like those at NY Twin Bridges Insurance Agency, which serves the Albany, NY region.

Here are some questions you should be asking when you first talk to an insurance agent.

What does the standard policy cover?

The standard home insurance policy typically will cover four areas: liability, personal property, dwelling, and additional expenses.

• Liability coverage is for bodily injuries that occur in your home.
• Personal property covers any personal belongings that you have in your house.
• Dwelling coverage specifically is used if there are damages to the structure of your house.
• Additional expenses coverage is for if you are displaced from your home due to extensive damage or something other serious reason and it will cover hotel expenses and transportation.

What level of home insurance do you actually need?

There are actual cash value and replacement costs. You should consider which of these you need and talk to your agent to learn which is ideal for your situation. If you intend to live in the house for many years then it might be better to go with a replacement cost in your policy.

Do you require an inspection of the property before getting insurance?

It may be required to have a home inspection first. You can check with your agent to determine if this is the case so that the company can evaluate the risks and calculate your rates properly.

How do you set a deductible?

Think about if you want a lower or higher deductible. This determines the amount that you’ll have to pay out-of-pocket before the policy kicks in to cover the rest. A higher deductible means you’re paying less on a yearly basis though it will cost you more if you do have damages to your property.

For advice on these topics and more, talk to a NY Twin Bridges Insurance Agency of Albany, NY agent right away.