The Utah insurance commission provides a Comparison table for consumers so they can see the rates for various policy types and the complaint ratio of companies by zip code. Though this can be a starting place, you also need to know the coverage you will require.
Most policies cover basic things like replacement costs of your home, personal property, outbuildings,
and liability in the event someone is injured on your property. Typically this covers fire, wind storm and theft. It usually provides for removal of damaged property and clean up as well as reconstruction.
Flood damage, earthquake and other disasters usually require an additional policy and carry a deductible. A policy is not usually bound until 10 to 30 days after the policy premium has been paid.
If you have valuable collections of art, antiques, guns or other special items you may need an additional policy. If you have a home business, you may need extra insurance to cover items such as a computer and printer.
Insurance companies may use your credit rating to determine the cost of your policy. The belief is that people with higher credit ratings are less likely to have claims than those with lower ratings. When obtaining a policy you should ask if this criteria is used and how it determines your policy and costs.
In some instances Insurance companies offer discounts for bundled policies such as auto and home. Other discounts may be given for long term residency, safety features like alarms or sprinklers.
Some policies are available with higher deductibles that make the policy more affordable. Before choosing this type of policy, it is important to consider whether you would be comfortable paying the amount of the deductible.
Insurers must pay claims in a timely manner. Claims that are paid late must include interest of the claim amount. A settlement of a liability claim is not considered an admission of liability on the part of the insured.
The Utah insurance code includes rules for property and casualty. This covers things like rate modification to make sure there are no unjust practices in raising rates. It also addresses forms of discrimination due to race, marital status, age, etc. If you have a question you can go here to check these rules: http://insurance.utah.gov/docs/rules/r590-121.pdf
