‘Homeowners should be concerned with a few factors to protect them should a life interruption occur,” said Esther Tanez, owner of ESTIR Inc. Insurance agency.

“After 30 years in the insurance business I have seen many different common mistakes that are made in the homeowners insurance,” she added. “My agency is here to help you understand the different policies and to make the best choice.”

Here are a few ways to avoid mistakes:

1. Do I purchase homeowners insurance based on the purchase price?

The rule of thumb is to buy insurance to be able to rebuild the home; this is replacement value. Most insurance agencies have a program that calculates true value to rebuild in case of a loss. In today’s market there are many deals to be found when purchasing a home. For example, you may pay up to 35 percent less, but looking for a “deal” on insurance may cost down the road. The insurance should be based on the replacement value and not the purchase price.

2. Does my homeowners insurance cover flooding?

Homeowners insurance does not cover flood insurance as-is. This is an additional rider to insurance. As the climate keeps changing and becomes more and more unpredictable, it is important to purchase flood insurance even if your home is not in a flood zone.

3. Are roommates covered by insurance?

Most homeowners insurance policies cover up to two roommates. Any more then that is considered a “rooming house,” which needs a different type of policy.

4. I moved and rented my home, am I covered?

It is important to switch your homeowners on the rental home to a dwelling policy. It is urgent that you make this change; otherwise you are not covered at a time of loss. And remember to insure your new home, as well.

5. I purchased my home but I won’t move in for six months. Does my homeowners cover me?

Homeowners insurance policies expect you to move in right away. A vacant property must have a vacant insurance policy and not a homeowners insurance policy. If you fail to do this, you will not be covered at a time of loss.

“Our agency works with multiple insurance companies,” Tanez explained. “We will get you multiple quotes for the best coverage for your dollar.”

ESTIR Inc. Insurance has been in business for 16 years serving the community by offering advice and guidance on insurance needs, protecting auto, apartment, homes, businesses, and much more. A staff that is licensed and prepared to serve in both English and Spanish is willing to listen to concerns and find the best policy to protect its customers.

ESTIR Inc. Insurance Agency, Your Protection. Our Priority. 195 Nassau Street, Suite 25, Princeton. www.estirinsurance.com. 609-688-1800.

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