Get the Most Out of Your Homeowners Insurance

Get the Most Out of Your Homeowners Insurance

1. Know the exact value of your home.

Getting the actual value of your home will help ensure you have the proper insurance coverage. Work with a licensed home builder or appraiser to get the most accurate value.

2. Know what the policy covers.

A standard policy typically offers financial protection in the unfortunate event of property damage or loss of possessions due to specific hazards such as storms, fire, theft, or vandalism. Policies also include liability coverage, shielding homeowners from potential losses through legal action. DTRIC’s homeowners insurance covers additional living expenses if the home is not fit to live in because of a covered loss.

3. Know what the policy doesn’t cover.

In Hawaii, specific policy coverage to protect against damages caused by hurricanes or flooding in low-lying areas is required. A standard policy may have exclusions for events such as earth movements (landslides, earthquakes, sinkholes), power failure, government action, faulty zoning, bad repair or workmanship, or defective maintenance.

4. Get instructions on filing a claim.

Even before disaster strikes, learn the process of filing a claim. Knowing the steps to take in advance will allow you to move quickly on your claim, and get compensated for your losses or any displacement as soon as possible.

5. Preventive and maintenance measures.

Insurance premiums are calculated based on the risk associated with the policy. By taking measures to minimize liability risk, you can lower your premium. Here are some preventive measures that help reduce your risk and could also earn you a discount:

  • Home burglary alarm system
  • Deadbolt locks
  • Fire alarms and sprinklers

6. Document the damage.

To ensure maximum compensation, homeowners should document all aspects of a loss. This includes saving receipts, contracts, and appraisals, and noting the names and dates of conversations related to your claim. It is also important to submit “before and after” photos and/or video (a smartphone works) of the damage to show proof of the extent of the loss. Detailed records should be stored in a safe place, including an electronic version as a backup in case hard copies are lost or damaged.

Bundle Your Auto, Homeowners, or Renters Insurance and Save!

Skip to content