Know What Type of Insurance Policy You Have (Before You Need It)

A Vendor Spotlight with Sam from Goosehead Insurance

When it comes to protecting your home, most homeowners assume they’re covered — but many don’t actually know what type of insurance policy they have. That detail matters more than you might think, especially when it’s time to file a claim.

In this vendor spotlight, we sat down with Sam from Goosehead Insurance to talk about why understanding your insurance policy now can save you stress, time, and money later.

Why Knowing Your Policy Matters

Not all insurance policies are created equal. Two homeowners can both say they have “home insurance,” yet have very different coverage, exclusions, and claim outcomes. The biggest issues often arise when homeowners discover — too late — that something they assumed was covered actually isn’t.

Sam explains that knowing your policy type helps you:

• Understand what is and isn’t covered

• Avoid surprises during the claims process

• Make informed decisions when buying, selling, or refinancing

• Ensure your coverage matches your current home value and lifestyle

Common Gaps Homeowners Don’t Realize They Have

Many homeowners only review their insurance when they first purchase a home, and then never revisit it. Over time, renovations, rising replacement costs, and changes in personal property can all create coverage gaps.

According to Sam, some of the most common misunderstandings include:

• Assuming all policies cover full replacement cost

• Not realizing certain claims may be settled differently depending on policy type

• Overlooking deductibles, exclusions, or coverage limits

These gaps often come to light only after damage has occurred — which is why proactive education is so important.

Questions Every Homeowner Should Ask

Sam encourages homeowners to regularly ask their insurance provider:

• What type of policy do I currently have?

• Is my home insured for replacement cost or actual cash value?

• Have recent updates or renovations been accounted for?

• Are there exclusions I should be aware of?

• Does my policy still make sense for my current situation?

A quick conversation now can prevent major frustration later.

Why We Love Partnering with Trusted Vendors

As real estate professionals, we know that buying or owning a home doesn’t stop at the closing table. Having trusted vendors — like Goosehead Insurance — helps ensure our clients are informed, protected, and confident long after the sale.

Understanding your insurance policy is a key part of protecting one of your biggest investments. Sam’s insight is a great reminder that a little knowledge today can make a big difference tomorrow.

If you have questions about your coverage or want to better understand your policy, reaching out to a knowledgeable insurance professional is a great place to start.