Harris, Reed & Seiferth Insurance Group
  • Home
  • Quotes
    • Property >
      • Home Quote
      • Condo Quote
      • Mobile Home Quote
      • Renters Quote
      • Personal Vacant Property Quote
      • Landlords Quote
      • Flood Quote
      • Personal Inland Marine Quote
      • Personal Vacant Land Quote
      • Builder's Risk Quote
    • Vehicles >
      • Auto Quote
      • Motorcycle Quote
      • Snowmobile Quote
      • ATV Quote
      • Motor Home/RV Quote
      • Golf Cart Quote
      • Scooter Quote
      • Roadside Assistance Quote
    • Life >
      • Life Insurance Quote
    • Medical >
      • Health Quote
      • Dental Quote
      • Vision Quote
      • Critical Illness Quote
      • Disability Quote
      • Medicare Supplement Plan Quote
      • Long Term Care Quote
    • Business >
      • Business Quote
    • Specialty >
      • Boatowners Quote
      • Umbrella Quote
      • Travel Insurance Quote
      • Private Horse Owner Liability Quote
  • Products
    • Property >
      • Learn about Home Insurance
      • Learn about Condo Insurance
      • Learn about Renters Insurance
      • Learn about Mobile Home Insurance
      • Learn about Personal Inland Marine Insurance
      • Learn about Vacant Land (Personal)
      • Learn about Vacant Property
      • Learn about Flood Insurance
      • Learn about Builder's Risk Insurance
      • Learn about Landlords Insurance
    • Vehicles >
      • Learn about Auto Insurance
      • Learn about Classic Car Insurance
      • Learn about Motorcycle Insurance
      • Learn about Snowmobile Insurance
      • Learn about ATV Insurance
      • Learn about RV Insurance
      • Learn about Golf Cart Insurance
      • Learn about Scooter Insurance
      • Learn About Roadside Assistance Insurance
    • Life >
      • Learn about Life Insurance
      • Learn about Guaranteed Issue
    • Medical >
      • Learn about Health Insurance
      • Learn about Dental Insurance
      • Learn about Vision Insurance
      • Learn about Critical Illness Insurance
      • Learn about Disability Insurance
      • Learn about Long Term Care Insurance
      • Learn about Medicare Advantage Plans Insurance
    • Business >
      • Learn about Business Insurance
      • Learn about Commercial Marine Insurance
    • Specialty >
      • Learn about Boatowners Insurance
      • Learn about Aviation Insurance
      • Learn about Umbrella Insurance
      • Learn about Travel Insurance
      • Learn about Private Horse Owner Liability Insurance
  • Service
    • Report a Claim
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
  • Resources
    • Blog
    • Free Home Inventory Checklist
    • Free Disaster Preparedness Plan
    • Refer a Friend
  • About
    • Insurance Carriers
    • Accessibility Statement
    • Contact
  • Home
  • Quotes
    • Property >
      • Home Quote
      • Condo Quote
      • Mobile Home Quote
      • Renters Quote
      • Personal Vacant Property Quote
      • Landlords Quote
      • Flood Quote
      • Personal Inland Marine Quote
      • Personal Vacant Land Quote
      • Builder's Risk Quote
    • Vehicles >
      • Auto Quote
      • Motorcycle Quote
      • Snowmobile Quote
      • ATV Quote
      • Motor Home/RV Quote
      • Golf Cart Quote
      • Scooter Quote
      • Roadside Assistance Quote
    • Life >
      • Life Insurance Quote
    • Medical >
      • Health Quote
      • Dental Quote
      • Vision Quote
      • Critical Illness Quote
      • Disability Quote
      • Medicare Supplement Plan Quote
      • Long Term Care Quote
    • Business >
      • Business Quote
    • Specialty >
      • Boatowners Quote
      • Umbrella Quote
      • Travel Insurance Quote
      • Private Horse Owner Liability Quote
  • Products
    • Property >
      • Learn about Home Insurance
      • Learn about Condo Insurance
      • Learn about Renters Insurance
      • Learn about Mobile Home Insurance
      • Learn about Personal Inland Marine Insurance
      • Learn about Vacant Land (Personal)
      • Learn about Vacant Property
      • Learn about Flood Insurance
      • Learn about Builder's Risk Insurance
      • Learn about Landlords Insurance
    • Vehicles >
      • Learn about Auto Insurance
      • Learn about Classic Car Insurance
      • Learn about Motorcycle Insurance
      • Learn about Snowmobile Insurance
      • Learn about ATV Insurance
      • Learn about RV Insurance
      • Learn about Golf Cart Insurance
      • Learn about Scooter Insurance
      • Learn About Roadside Assistance Insurance
    • Life >
      • Learn about Life Insurance
      • Learn about Guaranteed Issue
    • Medical >
      • Learn about Health Insurance
      • Learn about Dental Insurance
      • Learn about Vision Insurance
      • Learn about Critical Illness Insurance
      • Learn about Disability Insurance
      • Learn about Long Term Care Insurance
      • Learn about Medicare Advantage Plans Insurance
    • Business >
      • Learn about Business Insurance
      • Learn about Commercial Marine Insurance
    • Specialty >
      • Learn about Boatowners Insurance
      • Learn about Aviation Insurance
      • Learn about Umbrella Insurance
      • Learn about Travel Insurance
      • Learn about Private Horse Owner Liability Insurance
  • Service
    • Report a Claim
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
  • Resources
    • Blog
    • Free Home Inventory Checklist
    • Free Disaster Preparedness Plan
    • Refer a Friend
  • About
    • Insurance Carriers
    • Accessibility Statement
    • Contact

Harris, Reed & Seiferth
​Insurance Group Blog

Buying Insurance: Are You Making These  Mistakes?

9/27/2017

0 Comments

 
Picture

Buying insurance can be a tricky purchase  - but it doesn’t have to be. Simply put, some areas of  your insurance policy will just require extra attention to avoid weaknesses in your coverage.  Here are some of the major coverage mistakes we’ve seen here at our agency.
Not Insuring Your Home For Replacement Cost
Do you think you only need enough coverage to insure your home for the amount you paid for it? If you said yes, well, that’s just not true!  You need to be insured for the amount of money it would cost to REPLACE your home, not the amount of its actual cash value which will include a deduction for depreciation. Think of it this way: the total cost of replacing a home could be tens of thousands more than the house would have sold for on the market, cash value. So, what if a fire or tornado destroyed your home and you’re currently only insured for the cash value? You could be at risk!

Buying The Cheapest Policy
When you shop for insurance, do you settle for choosing whatever is the cheapest? Cheaper isn’t always better. And if you’re looking to save money, you have to be sure you’re doing it smartly. Start with a reputable company; you want to buy from a solid insurance carrier that you can trust to pay your claims. You’ll also want to be sure that you’re comparing apples to apples.  If you’re buying for your home, ask yourself if the cheaper policy only insures your home for cash value instead of replacement cost (like above)? Does one company exclude leakage of water but not cover it?  These are the details that can often be missed or worse, misunderstood.

Buying Only The Required State Minimum Liability Insurance
While each and every state does have a required minimum amount of liability insurance to drive, it’s often not sufficient or helpful when you’ll need it. Selecting only the minimum could leave you open to a suit, wage garnishment, or even worse, the potential loss of an asset, like your home. You’ll want to be sure you’re discussing different liability amounts with your agent to see what is necessary based on your income, net worth, and liabilities. A bonus?  It won’t be near as much as you might think!

Buying Life Insurance Through Work
Many clients initially were telling me that they have life insurance through work and weren’t interested in purchasing their own coverage.  Huge mistake. Why? Well for one, gone are the days where people are staying at jobs for 30+ years. On top of that, if you develop health problems and leave your current employer, you’re at risk for possibly not being able to solidify coverage again! Purchasing your own life insurance, which is extremely affordable, ensures that you are covered no matter where you are employed or what health concerns you might develop in the future.  It’s the smarter choice, right?

Not Using An Agent
The ultimate solution to avoid all of these coverage mistakes? Work with an insurance agent! As agents, we have vast knowledge on the details and can always find coverage that’s right for your specific situation. It’s our job to discuss different liability amounts and ensure that the one you choose is high enough, to explain the difference between actual cash value and replacement cost and make sure that your home will be covered at the cost to replace it after a loss, to help you put your own life insurance policy in place so that you won’t be at risk to lose it when you change jobs, and to make sure that you aren’t buying an inadequate policy that doesn’t protect you.

Call us today for a quote!

​
Harris Reed & Seiferth Insurance Group 
​Office: 561-768-8176
www.harrisreedandseiferthinsurancegroup.com

0 Comments



Leave a Reply.

    Categories

    All
    ATV
    Boats
    Business
    Dental
    FAQs
    Financial
    Flood
    Golf Cart
    Health
    Home
    Insurance
    Life
    Local
    Motorcycles
    RV's
    Safety
    Snowmobile
    Trailer

    Archives

    October 2022
    September 2022
    July 2022
    June 2022
    March 2022
    February 2022
    December 2021
    October 2021
    May 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    May 2020
    April 2020
    March 2020
    February 2020
    December 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    September 2018
    April 2018
    March 2018
    February 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    April 2017
    March 2017

    RSS Feed

Connect With Us

Contact Us

Click Here to Email Us

Navigation

Homepage
Insurance Quotes
Policy Service
Insurance Products
Contact Us

Share This Page

Florida
6650 W. Indiantown Rd.
Jupiter, FL 33458


(561) 768-8176

Texas
11811 North Freeway, 
Houston, TX 77060

(713) 487-5538

Website by InsuranceSplash
© 2023 by HARRIS, REED & SEIFERTH INSURANCE GROUP, INC.
Photos used under Creative Commons from Ian Sane, allesopdemotor.nl de meest informatieve motor site, Carl Johan, Peter O'Connor aka anemoneprojectors, Jim Larrison, martinrstone, Gamma Man, onnola