Switching Your Home Insurance Carrier

There are any number of reasons you may be thinking of switching your home insurance carrier. Experts agree that it's a good idea to take a look at your homeowner's coverage every couple of years. Some mistakenly believe that you must wait until your current coverage is ready to expire before changing insurers. In reality, you have the right to change your homeowner's insurance at any time.  In North Carolina Homeowner’s Policies are cancelled on a “pro-rata” basis meaning that you will get 100% of all unused premiums returned. If you've paid for a whole year's worth of coverage and cancel seven months in then you should receive an amount equal to five months premium back..

Why Switch?

Here are some of the reasons you may be contemplating switching your current homeowner's insurance carrier:

• You've been comparison shopping and found a company that can provide you with a better price for the same level or better coverage. Tom Needham, a leading Greensboro home insurance provider, is a broker capable of diving deep into a long list of home insurance providers to find you the coverage you're seeking.
• Additional discounts may be available from a new insurance provider. Some companies even give a special discount discounts to those willing to bundle their coverages such as homeowner's, auto, umbrella, boat, RV and  life insurance.
• Perhaps you had a less than ideal experience with your insurer while going through the claims process. Poor service is a major cause of individuals quitting their insurance company and switching to another.
• You may be looking for additional protection (such as earthquakee coverage) not available through your present insurer or an insurance policy that is less restrictive that your current coverage.
• You may be buying a new home and want to take this opportunity to comparison shop what's out there.

When to Switch

If you're buying a house, you should start shopping for homeowner's insurance as soon as your buy offer is accepted by the seller. If you're switching insurance providers while still living in your current home, make sure your new coverage is activated before canceling your existing coverage. If your primary reason for switching companies is to get a better price, make sure you give your current Greensboro home insurance provider an opportunity to renegotiate your rate.

Getting Married? 4 Things to Discuss About Greensboro Insurance

Getting married typically involves huge amounts of planning, with many details requiring your serious, ongoing attention. With everything from choosing the venues for the ceremony and the reception to lining up the wedding party participants, wedding attire, flowers and food, the details may seem endless. There is one item that may be overlooked during the process when embarking upon the new life as a married couple but that should be considered either before or soon after the vows are made. The subject of insurance is an important topic of discussion for newlyweds to have. Here are a few things to consider:

1. Life insurance is an important part of creating a solid financial plan for now and for the future. The primary purpose is to provide financial support to the surviving spouse in the event that one of the partners dies. As a couple, each member becomes responsible for the debts and other financial obligations of the deceased. Your insurance discussion should determine the amount of money that would be needed if the income of either partner be suddenly curtailed. You should also take into account the amount of each other's outstanding financial obligations such as loans that will need to be paid off. Also, factor in the cost of funeral and burial expenses. If you already have an insurance policy, make sure to change the name of the beneficiary to your spouse's name. If children are later added to the family, your life insurance policies will likely need to be updated.
2. Combining your vehicle insurance policies will often save money due to a multi-car discount, but not always. It will come down to each person's driving record, the number of miles driven daily, the types of cars you own, credit history and other factors. All these factors should be reviewed with your Greensboro insurance broker before you make any vehicle insurance changes.
3. Your homeowner's or renter's insurance will need to be combined and updated after moving in together. This will insure that the total valuation of your combined personal property will be fully covered in the event you suffer any loss.
4. Make sure to take advantage of any discounts offered by your insurers, which can be more fully explained by your trusted Greensboro insurance broker. For even more savings, look into bundling two or more of your insurance policies with the same insurance company. You'll find numerous advantages to bundling.