How to Waste Time and Money with Home Insurance in Massachusetts


Did you have to read the title twice? Admittedly, it deserves a double-take as it is not something you would expect to see when reading a blog designed to inform you about the best homeowners insurance, as well as all its cousins within other classes of insurance.

Don’t be too hasty. If you let the title put you off you could miss out on some handy information. By reading on, you could discover what not to do in your pursuit of the lowest home insurance rates.

Sometimes, it’s difficult to follow good advice – even if it is for the best. For example, there may have been multiple times when you have heard, read, or been told that you should regularly review your insurance products, but how many times have you actually done it? No judgment, I know it is often easier to carry on in the way you always have rather than change, but that doesn’t mean it’s the right way to go.

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So, it can often be better to be told something in a different way. No, not reverse psychology, consider it a cautionary tale – a whole bunch of them, in fact – that can help you to navigate the process of getting the best homeowners insurance in MA.

Give it some careful consideration and if you recognize yourself in any of the following scenarios, you’ll know that you need to take some steps to make a change.

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Accept the First Quotation

When you haven’t got a lot of time on your hands, spending a significant proportion of it looking for an insurance policy is not going to be part of the plan. Though the advent of the internet has made the process a lot easier, this does not mean that there will not need to be some time spent on comparison in order to get the best policy for your needs.

Life is hard enough, so taking the easy option by accepting the first quotation that you are offered just makes sense. Though this means that you won’t know what else is out there if you take the first offer, that doesn’t really matter – you won’t suffer any repercussions.  

Besides, home insurance companies have got to be hurting for money; they need the contribution of your premium payments and would appreciate you adding to their coffers to keep their profits healthy. You don’t need to keep your hard-earned money by looking for the lowest home insurance rates when you can give it away to a large corporation. They deserve it, after all.

Are you sure insurance policy covers everything?

Assume Everything’s Covered

It is easy to believe that once you get an insurance policy, you’re safe because that’s all it takes to cover yourself against all risks. Insurance is insurance: one policy is much like the other so there is no need to check what risks are covered, obviously.

You don’t have time to check what is covered: you’ve got better things to do with your time. You will just assume that you have coverage for everything and feel free to go about your daily life, safe in the knowledge that you are fully protected.

Should the unthinkable happen and there is the occurrence of a risk for which you do not have cover, you’ll deal with it when the time comes. You’ll take the loss and pay out of pocket to rectify the situation, you’ll beg the insurance company to pay out on the policy, you’ll find someone else to pay for it. Even if it did happen, it would be someone else’s fault and you’d find someone to blame.

Do you read the small print?

Don’t Read the Small Print

Why would you? Reading the small print is a waste of time. The insurance company would not include anything that wasn’t to your benefit, right? The small print is a mere formality and you only really need to pay attention to the content of the policy schedule to make sure those details are right – name spelled properly, correct address, right limit, whatever.  

You have a job, family, hobbies, stuff to do, so taking the time to consider the tedious verbosity of a policy is not on the to-do list. That would mean taking time away from more important things, which is just not good.

Besides, insurance is too boring to contain anything surprising, so it will be unlikely to contain anything to worry about. All it needs is a cursory glance and then it can be put away, never to be looked at again until and unless you need to make a claim.

Do you know the value of your personal property?

Give It a Guess

When you get an insurance policy, you will be required to confirm the limit of indemnity that you require; that is, the maximum amount that the insurance company will pay if you make a claim. You may as well just take a guess rather than really take the opportunity to consider – or even list – your possessions and their value to get a complete picture. That would be too much work.    

There is no need to think about it too hard as a decent insurance company will have a good idea of the value of property in an average home – and you’re pretty average. In any case, any loss adjuster instructed to look into a claim would give you whatever you want if you give them a pitiful look, or bung them a few bucks.

If you can’t get the full value of your possessions, you can take the loss, kick yourself, or blame someone else.

Don't review at renewal

Don’t Review at Renewal

Once you have an insurance policy, you’re all set. You can forget about it and go about your business safe in the knowledge that you will be protected in every eventuality. Whether your home is flooded, burgled, burnt to the ground, or destroyed by an explosion, it’ll be all good. The insurance will be in place and you just have to leave it alone and let it run.

Though you know the period of insurance is twelve months, who cares? Once you’ve taken it out initially, you’ve done your part and the rest is the insurance company’s problem – it’ll be their responsibility to ensure that you maintain sufficient coverage. Therefore, if you already have an insurance policy there is no need to do any home insurance shopping and you can forget about the renewal date.

Similarly, it doesn’t matter if you don’t advise your insurance company about any changes to your circumstances or to your property. If they really wanted an update, they would contact you.

Should I bundle?

Focus on One Type of Coverage

You don’t need to bother with every type of insurance; one policy type is enough, especially as you are unlikely to ever make a claim anyway. Besides, if it was necessary to get multiple policies, more of them would be compulsory.

Just think about the worst-case scenario and get coverage for that alone. The loss you would suffer if your car was totaled would be less than if your house was burnt down, so you have to pick your battles.

You can’t be expected to obtain several types of insurance – what’s the point? You could even get away with not worrying about the compulsory types, like car insurance. I mean, how likely is it that you would get stopped by the police for driving without insurance? What’s the likelihood of you getting into an accident and having to pay to repair your own car or anyone else’s? You’re a great driver.

As a result, there’s certainly no need to bother considering bundling coverage to get the best insurance for home and auto. There’s no point in bundling coverage if you’re not getting multiple policies.

Happily Ever After

As you may have figured by now, my tongue was firmly in cheek while coming up with this blog, but there is a method to the madness as it gets you to see insurance in a different way. Though you might get the impression that obtaining insurance is a hardship, it doesn’t need to be, especially when help is at hand…hi, I’m Duke, we must not have met!

At Econosurance, we can do all the hard work for you using our links with all the best insurance companies to find you the best premium. Whether you require an individual policy or several in a bundle, give us a call on 800-335-0633 and let find the best homeowners and car insurance for your needs.

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