Insuring Your HomeInsuring Your Home

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Insuring Your Home

When we started thinking about buying a home, I realized that we had a boatload of work to do. I knew that we needed to save up a down payment, talk with a mortgage broker, and most importantly--figure out what we were doing about homeowners insurance. Fortunately, a friend of mine told me about a great insurance broker in our area who handled that kind of thing. We met with her to talk about our options, and before we knew it, we had found a policy that really melded with our budget and lifestyle. This blog is all about insuring your home.



Why Auto-Verifying Insurance Policies Is Better For Everyone

Verifying an insurance policy or an insured person's record used to require time to locate someone who could help you. Now, you can find automatic verification systems online that locate an insurance record in just a few seconds. If you can, start using this option because it has benefits for everyone involved.

It Is Much Faster Than Calling Insurance Companies

Normally, when you need to verify whether someone has a specific insurance policy or find out what their record of cancellations and reinstatements is, you'd call the company and speak to someone. That's simple enough, but it can take time as they look up the person's policy. If they're away from their desk, and no one else is available to help you, you're stuck with no information about the policy.

With auto-verification, you log into a database that can give you the information immediately. This is often done with the person whose policy you're verifying; they log into their account with the agency as well. Procedures differ between programs, but once you identify the person in the system, you get an automatic answer regarding coverage and records.

You Can Discover and Repair Mistakes Right Then

A setup where you and the person are sitting together as you verify their insurance is best because you can solve problems right then and there. If the database says a type of coverage is different from what the person said it was, you can look at the person's paper policy copies to see if they received different information because of a mistake. If the information you get verifies they have coverage but has other information that the person says is incorrect, you can both start the process of figuring out what happened rather than playing phone or email tag with each other.

The Entire Insurance/Lending Process Is Sped up Considerably

Whether you're verifying car insurance because the person was in an accident that affected you, or you're verifying homeowner's insurance in preparation for issuing a mortgage, being able to automatically verify a policy speeds up the entire process considerably. There is no waiting if the database can find the policy. Even if the system you use can't find the information you were looking for, that still lets you move on to whatever the next step is.

See if the auto-verification insurance system you're interested in has a trial period before you sign up for a long-term contract. You may want to run some tests to see what positive and negative answers would look like as well. The application or service should be easy to use with an intuitive interface.