Apply For Your Home Insurance Quote Today We Have Your Free Home Insurance Quote Find Out The Latest Home Insurance Information Learn Why It Homeh Insurance Is Important Apply For A Anthem Home Insurance Quote!
Get your home insurance answer.

Here are the answers to some of the most commonly asked questions about home insurance. Let us know if we have not answered your question.

How much protection should I get?

You don't want to find out too late that you have insufficient coverage. On the other hand, you also don't want to pour money into a policy that is more than you need. To find the happy medium, you'll first want to figure out exactly how much your home would cost to rebuild in the same location. You might also want to consider additional protection, like inflation protection, that will add to your coverage annually based on inflation rates.

How is actual cash value protection different from replacement cost protection?

This protection pertains to your possessions. With actual cash value coverage, the provider will reimburse you for the value of your belongings minus the expenses of depreciation, wear and tear, and age. This will likely not be even close to enough to purchase the item again new, which is what replacement cost protection does. Replacement cost protection means depreciation will not be deducted from the value of the item, so you will be reimbursed for the purchase price of the replacement item.

Should I let my provider know when I do renovations?

This is a good idea, especially when the renovations are over $5,000. Remember that, unless you update your coverages, the money and time you invested in renovating your home will be lost if disaster strikes.

How is the cost of my plan determined?

Your premiums will depend mainly on two things: your risk of loss and the home in which you live. Your risk of loss will depend on where you live. For example, certain areas might be prone to hurricanes or tornadoes, which will increase the risk of loss. Other factors that go into computing risk of loss include your proximity to a fire hydrant, how quickly local fire departments respond to emergencies, weather patterns, and statistics of loss in your area. With regard to your home, your expenses will depend on how old your home is, what type of construction went into building it, and how much coverage you require.

How do I lower my premiums?

The easiest and quickest way to do this is to raise your deductibles, but be careful. You should not have a higher deductible than you can afford to pay all at once. Other ways to lower your expenses will vary by company, but you might be able to get discounts for certain things. For example, some companies offer discounts if you have an automatic fire sprinkler system, burglar or fire alarms, smoke detectors, deadbolts, and fire extinguishers. Also depending on the company, you could save money by being age 55 or over, carrying multiple policies with the company, or owning a relatively new home. Ask your provider about potential discounts.

What is a deductible?

A deductible is the portion of the loss costs for which you are responsible. For instance, if you have a $500 deductible, then you must pay for the first $500 of repairs or replacements. If the damages are $500 or less, then you would be responsible for paying all expenses. If the damages exceeded $500, your insurance company would pick up the tab after the first $500.

Select Insurance Type:
Enter Zip Code:
whats new with us »
why insure? »
contact anthem »
questions? »