What Makes a Great Insurance Agent?

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What Makes a Great Insurance Agent?

When you are shopping for any type of insurance, you are going to want the help and advice of someone who understands the insurance business and who is truly interested in helping you protect yourself rather than making the most money. Unfortunately some insurance agents are in the business for their own benefit and will not tell you when you are paying too much or are buying insurance that you simply don't need. I am a former insurance agent, and I have seen the best and worst. This blog is about noticing red flags when it comes to sneaky insurance sales people and about finding the signs of a truly good agent.


Tips To Help You Get The Best Mobile Home Insurance

Mobile home insurance coverage is typically very similar to the same type of protection you would get for a single-family home. You're going to want a plan that provides you with coverage for the physical structure of your mobile home as well as liability protection in case you are held liable for the injury of another individual. Although these are the basic level indemnifications, there are some important considerations you don't want to miss out on. Keep reading to learn about a few tips to remember the next time you take out an insurance policy for a mobile home.

Know The Difference Between Replacement Cost Versus Actual Cash Value

When you start looking at the available insurance options for your mobile home, you will likely run into policies that offer to give you either the replacement cost of the structure or the actual cash value. Each of these terms has a unique definition, and it's vital for you to understand them so you can select the one that is most ideal for your unique situation.

For example, if your policy agrees to pay out on a replacement cost basis, you can generally expect to be given enough money to cover what you paid for the house with no depreciation. However, actual cash value (ACV) does factor in depreciation. So, under ACV, if you paid $100,000 dollars for the mobile home and several years have gone by, the home will probably assess for less than what you paid. The difference is the depreciation, and this will be deducted from your restitution.

The reason why the distinction is so critical is that you never know what your financial circumstances will look like in a few years. What if the mobile home is destroyed in a fire and you've signed up for an ACV policy? Will you have the funds to make up the difference in cost so you're able to afford a similar mobile home to the one you have?

Named Perils Versus Open Perils

A named-peril policy strictly provides coverage for the hazards listed in the plan. Open-peril policies are generally much broader in the scope of what they will cover. This means that if you live in an area that is known for certain weather conditions that aren't as common in other places, you can make sure the coverage will be there if you need it!

Getting the right policy provides you with the protection you need to cover your mobile home. Keep these points in mind so you make the best choice.

To learn more about mobile home insurance plans, contact an insurance agent.