Homeowners Insurance: Know Before You Buy

The rising costs of homeowners insurance hits especially hard in areas prone to flooding, fires, and other environmental concerns. Know the additional steps to take concerning insurance BEFORE you buy a home.

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[Andres_]

This is a crucial topic. Assessing coverage options, deductibles, and policy exclusions will help you make an informed decision tailored to your specific needs.

[lorimoreman]

If insurance companies are losing so much money, why are they paying high dollar actors or sports figures to advertise and paying for stadiums to rename them after their companies?

[stevee]

I work on the claims side for a top 10 insurer - Clark is 100% right that you should look at it as protection against catastrophic loss like your car being totaled in an accident or your house burning down. People pay extra for a very low deductible, then they make a claim for a few hundred $$ for minor damage and their rates go up. That makes no sense, get a higher deductible and simply stick a couple thousand extra in an emergency fund for minor stuff.

[pamcornelius]

My Allstate homeowners insurance is now $3, 880.00 annually. The climate changes for various reasons, but people’s ethics in filing claims for damages have also changed for the worse.

[tracythompson]

you do have your lot if house burns but still much better wiser to have insurance

[leedezern]

Clark have you looked into insurance companies and how difficult it is to get them to pay when you have legitimate claims?

[couponuser]

Great advice! I totally agree that home insurance should mainly be for big disasters. It shouldn't cover things like fixing up your house, replacing your phone, lost jewelry, or identity theft. Sometimes insurance companies try to sell these extras, but if you use them, they might cancel your policy. If you want extra coverage, I suggest getting water backup coverage. It pays for damage from water backing up into your home from a sewer or sump pump. It's pretty much the only water damage coverage you can add to your home insurance.

[markeckman]

I agree with your comments about the need for liability coverage, but I would point out that the liability limits on homeowners and auto policies should be reviewed carefully so that you maintain coverage minimums for your umbrella coverage

[JxBx]

We had a 170% increase on our townhouse back in Florida.

[kenarthur]

Excellent video! We've been with our Insurance Agent for over 30 years, and our 2024 homeowners insurance was not renewed. He apologized. But he found a different company that would insure us, thank goodness. Crazy world.

[SOJTV]

Just went from Amica to AAA Car Insurance in SoCal and will be saving $600 a year plus will have more benefits and resources .. shop around indeed for car insurance .. it’s different prices in different areas of the country … Amica might be cheaper than AAA in your area .. I used JD Powers & NerdWallet to help decide.. also like only working w/ companies that are not into w o k e stuff .. [Both Amica and AAA are good 👍as far as that goes & not into that ]

[scottwhite]

My Allstate went up 25% on auto. Still cheaper than other companies I researched

[couponuser]

It's worth thinking about how you pay your insurance bills. Paying every month can end up costing you more. There are extra fees, like $6 to $7 a month if you get bills by mail. That adds up to about $72 a year for just one policy. If you have two more policies billed the same way, that's over $200. It's smarter to switch to paying at least every six months to avoid these extra costs.

[Michelle-bwxg]

Allstate bought out my car/home insurance co. Car insurance renewal up 100%!!! with no changes. Prior company did not allow pay 6 mo. in full, now have to come up with 1 yr payment all at once. Home insurance up too. Many less insurers for new policies in CA now. Hoping I will find a lower cost option this coming week.

[sabrinabeckham]

Getting very hard to even sell and move elsewhere. Nola area

[johneykelso]

Mr Clark, I got that homeowners cancelation letter, never filed a claim in florida, I still owe 46 thousand and at my age I just don't think I could be homeless at my elderly age living on social security.

[SpartanClaimResources]

When you have a homeowners claim you may want to call a public adjuster. The carriers will not pay you what they owe. We fight the good fight in Nevada.

[chrisforker]

It’s getting very hard to find coverage here on the Eastern Shore of VA, even though there are very few claims. Most named storms are south of us, but we pay for those living on the Outer Banks 😡

[worldtraveler]

Coastal SC just got a renewal for $4500, shopping around without much hope…

[cowboy]

I'm just an old cowboy who's struggling to get full coverage on my corral where I keep my little doggies!