Price vs. Value and Homeowners Dwelling limits

I was watching an insurance video blog earlier today at http://www.atlantainsurancelive.com/home/atlanta-insurance-live-33-home-insurance-tip-for-the-first-time-homebuyers/ .  This inspired me to do a quick post about price vs. value in regards to home owners insurance, and why it's so important that you're buying an agent not a company.  This is why I recommend doing business with an independent agent.  Independent agents have access to several companies, not just one.  They can give you advice on which companies offer the best coverage and billing options for your situation.

For first time home buyers what I'm about to write isn't nearly as important for homeowners that have been in their house for a few years.  I get people shopping for insurance all the time that want to compare what their paying currently to what else is available.  With car insurance this is definitely the way to go, but this can be a dangerous game with homeowners insurance.

If it's been a few years since you've adjusted the amount of coverage you have on your home, it's going to be nearly impossible to find a lower rate than what you're paying currently.  When shopping for home insurance, you have to ask yourself, "do I want to find a better price than what I have currently, or do I want better/more appropriate coverage than what I have currently?" Better Value.

Before you begin the process of calling around.  Start by calling your current insurance agent and make sure that the coverage you bought years ago is still appropriate today.  Did you call your agent last spring when you added the deck to your house or renovated the kitchen?  Make sure that the coverage you have currently is relevant to compare against or you're going to waste a lot of time.