Compare Price vs. Value

Compare and evaluate policy cost, not price

The cost of an insurance policy is more than the premium you pay. It’s also what you have to pay out of your own pocket when you suffer a loss.

Price and value can be very different

People often confuse the two. They think they’re getting the best value when they get the cheapest price. Your mobile home insurance policy is not just words on paper. In that document is information on the coverage you have, the amount of insurance you carry and a description of the way your claim will be settled.

You should be satisfied with each of these items before you choose a policy. One simple formula can help you determine the total cost of a policy. Use it to evaluate the cost of each policy you check out.

Total cost vs. premium

A policy's total cost = the premium plus out-of-pocket expenses if you have a claim.

For example, let's say you are comparing two policies. Policy A gives you comprehensive coverage on your home and named peril coverage on your personal belongings. Policy B gives you comprehensive coverage on your home and your belongings.

On the surface, the choice seems easy - Policy A looks like the better deal. Buy it and save $100. Right? Take a closer look, though. The coverage is very different. Let us show you.

Situation: While painting your living room, your dog darts through the room, tipping over your ladder and along with it - your paint can. Paint spills over your brand new sofa, area rug and coffee table that had just been delivered to your home. Here's how the claim might be settled:

If you’re like most of us, you’d find this unexpected expense upsetting -- and a real strain on your budget.

Value measured in other ways

There’s also the issue of service. What kind of service do you want from your insurance company? Service is important when you have a question, and especially when you have a claim. Plus, you should learn about your insurance company’s financial stability. You want a company that can and will be able to pay your claim.

A Foremost AARP policy provides comprehensive coverage on your home, your unattached structures and your personal belongings.  But beware, some other policies provide "comprehensive coverage" on your home and other structures but "named peril coverage" on your personal belongings.  Check to be sure which type of coverage you have!

If you’re ready to find out what a Foremost policy can provide you, at what cost, click here for an Online Insurance Estimate.