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Simplifying Insurance Homeowners insurance… do you need it? You can't put a price tag on everything, but it is critical for you to protect your home investment and your belongings the best you can. Unlike driving your vehicle, you can legally own a home without home insurance coverage; however, if you are in the process of buying a home with a mortgage, most banks require that you have an insurance policy in place before they will lend you the money to purchase the home. At InsureLine, we work with home buyers daily, understand how the mortgage process works, and can create a plan to satisfy the insurance-related qualifications. Insurance Brokers vs. Insurance Agents Do you know the difference between an insurance agent and an insurance broker? As you shop around for insurance, there are some important differences you need to know that will save you time and money. An insurance agent works directly for an insurance company. Agents are an extension of the insurance company and receive commission and possibly a salary. Their main focus is to only sell that insurance provider's products and services. An insurance broker on the other hand can shop around to many insurance providers on-behalf of their client. They are independent, and are not limited to just one insurance provider. They work for the client, NOT for the insurance providers. An insurance broker is required to hold a license and undergo extensive education and training. They take on more responsibility on behalf of the client by analyzing their needs and risks to ensure the client has enough coverage. In addition to shopping many providers and offering expert advice, the biggest advantage of working with an InsureLine broker may actually be that your broker becomes your advocate in a claims situation. If you were to buy insurance directly from the insurer themselves and a claim arises, you are really at the whim of the decision of the insurer on whether or not coverage is provided, and to what extent. On the other hand, with an InsureLine broker on your side, they become an intermediary who can help provide you with guidance and feed- back throughout the claims process. Most importantly, the broker acts as your advocate with the insurer if the insurer is being partial or handling the claim improperly. An InsureLine insurance broker has access to an extensive array of insurance providers, and can assist you in shopping around for the best insurance deal available. 5 Questions You Should Ask Your InsureLine Broker When Getting Home Insurance 1 Are there limits to my coverage? 2 Is there extended insurance or an umbrella policy available? 3 What happens to my policy and premium if I have to file a claim? 4 How do I file a claim? 5 How long does it take to get reimbursed or paid after a claim is filed? promoted content