Tactics to Ensure You Have Sufficient Homeowners Insurance Coverage for 2022

So much can happen to your home over the course of a year. You may have made additions such as skylights and back decks that boosted your value, or maybe suffered a natural disaster that has affected your premiums and living quality. Whatever the reason may be, you may be currently realizing that the homeowner’s insurance policy you had a year ago is no longer the appropriate fit for you.

Doing in-depth research on home insurance is necessary to make sure that you don’t spend too much for coverage that you may not ultimately need, but you still don’t want to risk your home suffering the peril of under coverage. Lower-income households now place a much higher level of importance on a positive user experience, while higher-income households place greater value on an Insurance Company’s collective financial rating. Homeowners now need greater flexibility in both their coverage and how much they pay.

Important Elements to Consider While Exploring Your Options: 

Every homeowner should be thoroughly shopping around, comparing quotes, coverage offerings, and researching the long-term financial stability of their provider. A yearly checkup of your policy coverage can let you know what you need for coverage so you don’t end up without any at all. Here are some valuable tips that will ensure you are getting the most out of your homeowners insurance for 2022.

Closely Review Your Current Policy:

The number one goal of homeowners insurance is to help you rebuild or replace your home if it’s damaged. If you have chosen to undergo renovations or improvements last year that increased your home value, your limits should be closely looked over and increased to reflect the change. The final cost to completely rebuild should also consider the cost of all materials along with labor. You should also make sure that your home inventory list is updated so your limits are high enough to completely cover replacement costs. 

Look at Your Add-On Rider Coverage: 

If you happen to reside in an area where natural disasters are common, you may need extra coverage. Unless homeowners live in a designated flood zone, they are not required to possess flood insurance. But there has recently been a strange exception to the rule: over the past year, the majority of flood claims were from people that did not live in flood zones, and did not have coverage under homeowner’s insurance. 

Think About Combining Multiple Policies:

Homeowners insurance offers several add-on coverages like special jewelry and pet insurance so you can enjoy the benefit of not having multiple separate policies. One of the most important conversations we can have with you is figuring out what optional coverage is out there and figuring out what different types of riders could cut your monthly costs. Many homes have added a pet to their family, and this makes us happy as they are great at relieving stress and promoting well-being!

Missouri’s Penchant For Weatherproofing Prep: 

During cold, harsh winters, homeowners can suffer massive damage from ice and snow. Personal liability claims can frequently gain more attention during these months too, as it is the homeowner’s responsibility to effectively clear ice and snow from sidewalks and driveways. Sometimes when you first move in, small but important details like this can fall by the wayside.

Making Sure that Home Maintenance is Priority #1:

One of the most important aspects of owning a home is making sure you keep up on routine maintenance. Many issues could be much easier to fix if they were caught on time rather than accumulating into much more time-consuming problems later. Tasks such as putting wire mesh properly over vents and plugging up any holes in your house with steel wool can keep out pesky rodents that are always on the hunt to make your place their home. One of the most important things to note about homeowner’s insurance is that it does not cover inclement damage caused by insects or rodents, which can both slowly take their toll on your structure’s longevity.

Which Provider Will Ultimately Win Your Business?

You may have realized that a competitive price does not necessarily mean you will be satisfied with the customer service and your overall experience. The average cost for homeowners insurance will vary based on the state you live in and whether your home is categorized as rural or urban. If you have made a claim and were satisfied with the speed, accuracy, and due diligence, then it bodes well to stay with your current provider. 

Have you been looking for an insurance provider with better service, attention to detail, and understanding of what it takes to navigate your everyday life? Everyone here at Alexander Insurance is educated and ready to provide an experience that surpasses your expectations!


Premiums, Predictions, and Purchaser’s Savvy: A Glance at 2022’s Outlook for Home Insurance

The last two years have been anything but predictable, and the pandemic has had a lasting influence on many aspects of life beyond simple mental health and well-being. If you are a homeowner, you may wonder how this affects your costs regarding insurance and how these trends are shaping up now that January is nearly over. Here’s a quick look at what we have observed here at Alexander Insurance that can influence you, as well as noticeable elements that may continue throughout 2022.

The Battle with Supply Chain Bottlenecks:
During 2021 there was a pandemic-induced round of stark inflation, shortages in valuable labor, and other disruptions in the supply chain itself. This caused a 15-year high of the backlog in new home construction and rising costs because of massive demand. Even if your home is already built, the demand for dire repair in the event of a natural disaster can take its toll on the cost of rebuilding. Incidents could occur that could make your present coverage not enough, and if a disaster occurs, you may be responsible for the amount over your insurance limit. One way to face this problem is to negotiate an extended or guaranteed replacement cost coverage to provide some relief.

Inflations Effect on Personal Belonging Replacement:
From 2020 to 2021, the annual rate of inflation was at about 6.8%. What is important to note is that some goods have suffered inflation of twice that rate, and many home furnishing outfits have seen their needed wares increase by about 14% during the last year. Since home insurance kicks in and covers your belongings, you’ll want to be sure you have enough personal property coverage for their replacement costs if they become damaged or destroyed. It is imperative to make sure that you have replacement cost coverage on your homeowner’s policy after doing a thorough home inventory to figure out whether your current level of personal property coverage will be enough.

Closing in on Ideal Solutions for Climate Change
The insurance agency is now going to take a harder look at how climate change disasters have a direct impact on our customers’ well-being. The National Association of Insurance Commissioners and state regulators released a report on how insurers can better manage climate-related risks, continue to be affordable, and educate consumers on the importance of sustainability and long-term education about environmental issues.

If you feel that your home is at any type of risk for disasters, you can count on us at Alexander Insurance Agency to help re-evaluate your type of coverage right away. Flood Insurance is a necessary form of protection in many areas and is no longer a luxury that can be ignored as weather patterns continue to intensify. There are also many other helpful add-ons for protection such as wildfire insurance that can cover issues from kitchen fires, wildfires, and other accidents, and it’s smart to evaluate your policy to make sure you are adequately covered if an unforeseen disaster affects your living arrangement.

The Earth may not always refrain from being temperamental, but we are standing by to make sure that you won’t suffer losses to your property. We have years of experience when it comes to natural disasters and are standing by to assist with the choices that will keep you prepared and firmly rooted when severe weather issues rear their head.


New Year is New Opportunity to Save: Tips to Lower Home Insurance Premiums

Home insurance premiums have risen dramatically. Some states have seen their premiums rise 25% or more, and an average homeowner’s insurance premium rings in at about $1,300.

There are several elements working against the homeowner, but there are still ways to save! Here are some of our recommendations:

A Higher Deductible: If you increase your deductible, you are effectively taking on more risk. Raising your deductible can also make you more inclined to have emergency funds available to cover expenses that may come up such as a hurricane-damaged roof or flooded basement.

The Small-Claim Avoidance Virtue: Another benefit of raising your deductible is the ability to pay for smaller issues directly out of pocket since a history of smaller claims can harm your monthly premiums. Since your history of claims follows you no matter where you go, it can become hard to keep your yearly costs reasonable if you must file repeatedly.

Combining Home and Auto Coverage: We have so many awesome ways to give customers discounted rates, and we love to see customers using our services for more than one aspect of their coverage needs. You may be entitled to a sizable discount just by combining your home and auto needs. It’s a win-win situation, and you can employ our expert services and extensive policy knowledge.

Make Sure you Compare: Shopping around with multiple providers to see if you can save on insurance is sometimes not at the top of your priorities. However, if you have the time, the extra effort can pay off. Comparing rates before you purchase is a great way to save money. Even small savings can build up over time.

Upgrades that Can Radically Lower Rates: Annual premiums can be lowered when you take the time to make improvements to your house. One of the reasons why so many homeowners do not do this right away is the cost, as it can sometimes seem that the initial out-of-pocket expense curbs the benefit. Adding things like smoke detectors and burglar alarms can help you save.

Deadbolts are one of the most inexpensive improvements you can make to the home that makes a huge impact on security, and sprinkler systems for fires do as well. A roof can sometimes be covered under other policies, and you may be eligible for a full replacement if a major storm blows through with considerable damage. While updated heating and cooling systems are on the pricier side of things, it offers heightened savings when setting rates.

The Furry Friend Factor: Lately, the popularity of Rottweilers and pitbulls has risen, and while they may be your best friend, they can cause an unwanted spike in your monthly premiums. Amenities for outdoor fun such as trampolines and swimming pools may also cause your premiums to be high.

Annual Plan Re-Evaluation: Answering your questions is what we are here for. Going over your plan once a year is key to finding areas for improvement in your coverage. If you have prepared an emergency fund, you could be in a better position than relying on insurance that may not cover the entire cost. Taking measures to improve your credit score can also lower your rates, as paying off bills every month and being so diligent is always advantageous.