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Home Insurance

Apr 7, 2016
Home Insurance can be confusing.  Just a few things to consider when shopping for home insurance in Oklahoma.

1. What kind of a policy is it?  Is it Actual Cash Value or Replacement Cost Coverage?  Whats the difference?
Actual Cash Value will only replace your property for what the value was before the loss so basically it will depreciate.  Replacement Cost will Replace your property for the cost it will cost to purchase New.

2. What is my deductible?  Some companies push the 1% or 2%, possibly higher deductibles. What does this mean?  If you have a hail storm come through and damage your roof and call the company to get your new roof, they may tell you your deductible is 2% of what you insure your home for.   For example, 2% of your home insurance at $100,000 would be a deductible of $2,000.  So you are responsible for the $2,000 deductible.  This has become more and more popular with the large Name Brand companies.  They advertise so much that they are not so happy to pay out claims.  So this is a way to trick the customer into paying more of the claim or getting them not to claim at all.

3. Most of the time we hear about the Auto/Home Bundle Discount.  As an independent agency, we have so many amazing companies to place you with we can most of the time find it more cost effective to place you with 2 different companies even though these companies do offer the discount.  We just like to save people money in this tough economy and the other large insurance companies like to throw out the idea of discounts just to get all your business whether its best for you or not.

Let us know if you would like your own FREE review of your policy.  We are happy to help!

AIP Insurance
1712 Chandler Rd
Muskogee, Ok 74403
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