[e] KWeninger@fairwaymc.com
[p] 920-960-0852

Put Your Home in Good Hands: Review Your Homeowner's Insurance Policy

When you obtain your home loan, a homeowner’s insurance policy is usually required.  However, finding an affordable insurance policy that covers all of your essential property can be difficult.  It is important that you thoroughly review insurance companies before making your decision.

Check the Rating

One of the most important items to review before purchasing an insurance policy is the A.M. Best Rating of the company.  The A.M. Best Financial Strength Rating evaluates a company’s ability to fulfill its insurance obligations based on its balance sheet strength, operating performance and business profile.  Companies can receive anything from an F to an A++, but any score under a B+ is considered financially vulnerable and is generally not a good choice to insure your home.


You should also become familiar with the liability portion of the policies you are considering.  Actual Cash Value (ACV) policies pay claims based upon the depreciated value of the item or items lost, leaving you partially liable.  Replacement cost policies will pay the full cost required to replace the items.

Home Appraisals

Once you have chosen an insurance policy, you should continue to have your home appraised every five years.  If additions are made or remodeling takes place, you will need to review and possibly upgrade your plan as well.

Avoid Mistakes

Be careful to avoid common mistakes.  The first is having inaccuracies on you application.  This is grounds for rejecting any claim which would leave you completely liable for all costs.  Secondly, make sure your policy includes any detached structure such as a guest house, barn, workshop, or garage.  Finally, do not over-insure.  You can save some money by insuring only those items and structures that need to be replaced.

If you have any questions, please contact me at (920) 219-4200 or email me.  I’d be happy to help!

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Kristine Weninger
Loan Officer NMLS ID 225608
836 Park Ave
Beaver Dam, WI 53916
Direct 920-960-0852
Office 920-219-4200
Fax 920-219-9987


Fairway Independent Mortgage

NMLS# 2289

Complaints may be directed to:

(877) 699-0353 or

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Copyright ©2018 Fairway Independent Mortgage Corporation. NMLS#2289. 4750S. Biltmore Lane, Madison, WI 53718, 1-877-699-0353. Fairway is not affiliated with any government agencies. These materials are not from VA, HUD or FHA, and were not approved by VA, HUD or FHA, or any other government agency. All rights reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply.

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