You shop around for the best deal on a car or even a new suit. Being
a savvy homeowner also means knowing how to shop for the best deal on
your home insurance without sacrificing the coverage you need. Get the home insurance facts.
Learn about what low cost home insurance offers and what it does not, how
to get a free home insurance online quote and compare multiple quotes from competing
insurance companies, and what you may want to spend on extra coverage
today to ensure you’re not out-of-pocket down the road.
Whether you’ve owned your home for years or are a first-time buyer,
being an informed shopper empowers you to compare and choose the right
insurance company. Find the company that offers both the coverage you
need and the right price.
Can I shop for homeowners insurance on my own?
You can and you should. Homeowners insurance is a lot easier to shop for than a mortgage because premiums change only occasionally, so the price you are quoted is very likely the price you will pay. Shoppers should be aware that carriers use different risk evaluation systems. So if you get a quote from one insurance company, you are likely to get a different quote from a competitor.
There are a number of insurers available that will quote you the price of a standard packaged policy, but not all of these insurers are quoting you apples to apples. A standard, broad form insurance policy issued by one insurance company can be very different from the same broad form insurance policy offered by a competitor. Each insurance company "packages" its policy - there are a variety of ways in which an insurance company can put together their package including their underwriting criteria and standards, and customer service. The principal factors you must try to hold constant in soliciting quotes from different carriers are the deductible and the coverage.
Shop for Home Insurance Deductable
The deductible is the loss amount that is the homeowner’s responsibility. Only losses above that amount are insured. Higher deductibles carry lower premiums.
Shop for Home Insurance Coverage
The coverage dictates the maximum loss the policy will pay. There are four levels of coverage, called "actual cash value" (lowest coverage), "replacement cost", "extended replacement cost", and "guaranteed replacement cost" (highest coverage, but not necessarily available). Higher coverage carries higher premiums.
See how much you can save today on your home insurance. Get your free home insurance quotes today!
