Sheally Insurance Group

Ease of Mind for Every Client

Sheally Insurance is a full-service agency serving Wilmington, North Carolina and its surrounding communities. We are dedicated to offering top-quality insurance products, and we take pride in building life-long relationships with our clients by serving the ever-growing needs of our community.

Helping your family's quality of life is as easy as a conversation.
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4 Insurance Mistakes Homeowners Can Avoid

At Sheally Insurance Group, we believe knowledge is power and learning from your mistakes is an important part of life. We also like to avoid making common mistakes—especially when it comes to homeowners’ insurance! For most people, a house is the biggest and most expensive purchase they’ll ever make, and it should always be protected and insured. To help you do exactly that, we’ve put together this list of things to avoid when insuring your home. By reading this article, you’ll be able to learn from someone else’s mistake and save yourself a lot of pain, heartache, and money! 

Underinsuring Your Home

Everyone likes to save money, which means it can be tempting to buy the minimum amount of coverage needed. While buying just enough insurance to cover your mortgage or the real-estate value of your home might be tempting, it won’t help if you’re hit with a worst-case scenario situation. This is a bad idea—the whole point of insurance is to protect yourself no matter what! Instead of trying to skate by on as little as possible, make sure you buy enough insurance to rebuild your home and replace your possessions. Keep in mind that the real estate market evolves, and your house will most likely increase in value the longer you own it. This means it’s important to continually update your insurance policy so you have enough insurance to cover its current worth, and not the price you paid when you initially purchased it. Protect your home as well as your investment!

Setting Your Deductible Too High or Too Low

This is another common mistake, made for the same reason as above—people are trying to save a few bucks, not realizing what it could cost them in the long run. If your deductible is too low, you’ll pay more when something goes wrong. If it’s too high, you’ll pay huge premiums for something you’re not likely to need or use. The best strategy is to talk to your insurance agent about what is appropriate for your home and lifestyle. In the meantime, keep in mind that setting deductibles between $500 and $1000 is usually a safe bet, and make sure you keep an emergency fund stocked with enough cash to cover those costs.

Skipping Flood Coverage

Sheally Insurance Group is based on Wilmington, North Carolina, just a few miles from the coast. Because we’re so close to the ocean, most of our clients are aware of the importance of flood coverage. However, even those who own homes inland should have this extra insurance. Per the Insurance Information Institute, 25% of losses caused by floods happen in “low-risk” areas. This is especially true if you live near a lake, river, stream, or area that gets a lot of rain or hurricane activity. The good news is that flood insurance will be inexpensive if you live outside a high-risk zone, which makes it a worthwhile add-on. And if you do live in a high-risk zone, it’s a no-brainer.

Not Communicating with Your Insurance Agent

We all lead busy lives. Between keeping your business running, taking care of your family, and enjoying your hobbies (we hope!), life’s little chores often get pushed to the back burner. If, however, you’ve gone through a life change—a new career, a new baby, a home remodel—then you’ll want to take the time to call your insurance agent and discuss how these changes might affect your insurance policies. Maybe you think the change is so small or insignificant that it doesn’t matter. It does! Maybe you think we’re so busy that we won’t want to talk to you. We do! At Sheally Insurance Group, we take our relationships with our clients seriously. We always want to know what’s new with you and how we can make any transition, no matter how small, go a little bit smoother. As we like to say, “Helping your family’s quality of life is as easy as a conversation.” Don’t be afraid to call us for a chat—we’ll always pick up the phone!

In the meantime, we hope these tips help you make the right choices for your home and find the insurance policy that fits. If you have any other questions, please call us at (910) 452-9877. We’re looking forward to it!

Sheally Insurance Group provides financial products to meet your insurance and financial needs. With flexible, friendly service we make it easy for families and businesses to protect themselves against loss and help them with their future plans.
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