Interviewing the Experts: Insights from an Insurance Agent on Home Insurance

A new year brings fresh opportunities to ensure your home is properly protected. What better way to start than by getting expert advice on home insurance? I recently spoke with an experienced insurance agent to answer some of the most common (and unexpected) questions about home insurance policies. Whether you’re a first-time homeowner or simply want to review your current coverage, these insights will help you make informed decisions.

1. What Determines the Cost of a Home Insurance Policy?

Several key factors influence the cost of home insurance:

• Replacement Cost – The estimated cost to rebuild your home in the event of a total loss.

• Year Built – Older homes may cost more to insure due to outdated materials and systems.

• Roof & Plumbing Updates – A newer roof and updated plumbing can improve eligibility and pricing.

2. What Does Standard Home Insurance NOT Cover?

Many homeowners assume their policy covers everything, but two major risks are typically excluded:

• Earthquake Damage – Requires a separate earthquake insurance policy.

• Flood Damage – Requires a separate flood insurance policy.

If you live in an area prone to earthquakes or flooding, ensure you have the right additional coverage.

3. What’s the Strangest or Most Unexpected Claim You’ve Seen?

Insurance agents have seen it all, but one of the most unexpected claims was a homeowner accidentally crashing into his own yard—at his own house! Accidents happen, but at least he was covered!

4. With Natural Disasters on the Rise, How Can Homeowners Ensure They Have the Right Coverage?

One of the best ways to ensure adequate coverage is to request a copy of your Replacement Cost Evaluation (RCE) from your agent. This document helps confirm that the amount listed under Coverage A (Dwelling) on your policy is sufficient. If your home isn’t insured for its full replacement cost, you could risk being underinsured in the event of a disaster.

5. Can Home Upgrades Help Lower Insurance Costs?

Yes! Certain home upgrades can help lower your premium or improve your eligibility:

• Full Indoor Sprinkler System – Can significantly reduce insurance costs.

• New Roof & Updated Plumbing – Improves acceptance and may lower costs.

• Security Systems & Alarms – May provide discounts, though they may not be substantial.

6. What’s One Thing Homeowners Should NEVER Do That Could Jeopardize Their Coverage?

Never submit a fraudulent claim. Not only is it a felony, but it can also lead to a denied claim, policy cancellation, and legal consequences. Insurance is designed to cover justified claims—so honesty is always the best policy!

For more information or to review your current home insurance policy, reach out to:

Wade Panutai
B.R.& Y. Insurance Agency Inc
📞 310-217-8880 ext 106
📧 [email protected]
🌐 www.bryinsurance.com

  Author: Susanna Leung

Susanna Leung’s goal as a real estate professional with Haylen Group is to help her first-time home buying clients find that perfect home where their families can grow, thrive, and live their dreams in the United States. She applies her experience in remodeling, resource networking, negotiations, and advanced marketing to provide her clients with dedicated, full coverage service.