When buying a new home, you may be wondering how much homeowners insurance you will need. There are many variables that go into calculating homeowners insurance and as new home buyers you will probably have lots of questions. The best way to make sure you end up with adequate coverage is to speak with an insurance agent who can answer your questions and find the best policy for your situation.
There are several components to homeowners insurance, but the basic types are dwelling coverage, other structure protection, and personal property insurance. The dwelling coverage will take care of your home. If you are buying a brand new home – you will need to calculate the value the entire structure. This will include hardwood floors, whirlpool tubs, and remote control fireplaces. You need to have enough coverage to replace or rebuild these items in the event of a disaster. The other structure protection will cover your garage, shed or barn. Depending on the items you keep in these areas and the size, you will need to calculate the value of the buildings. Finally, personal property insurance will take care of your clothing, electronics and jewelry if there is a fire or disaster that affects your home.
As new home buyers, you need to make sure you find the homeowners insurance you need for the price you want to pay. Comparing quotes from several providers will help you make the final choice. Speaking with an insurance agent who can answer your questions will also be helpful. Determining how much homeowners insurance you need is based on a lot of different factors and you may even want to speak with a local agent who can give you the best estimate for your area. Buying a home is exciting, don’t let a disaster ruin your day.
If you’re like the rest of us, you don’t want to pay a penny more on your home insurance rates than you have to. And with so many low rates being advertised in the media nowadays, it can be tempting to simply choose the lowest rate you can find. However, it’s important to understand that there’s more to choosing great coverage than simply selecting the most affordable home insurance out there.
Low Rates Might Not Offer Adequate Coverage
Though some insurance companies offer special deals and discounts that are usually valid for six to 12 months and do offer good coverage, there are always companies that offer extremely low rates for an unlimited period of time. But often times, even if the coverage amounts are adequate, you’ll find that the companies are lacking in other ways or sometimes are just plain scams. For instance, there are fraudulent companies that never pay out claims. Others don’t send out agents when you need them, and leave you waiting for your money for weeks. And in the event of a claim, that’s the last thing you need.
Finding Reliable and Affordable Home Insurance
The bottom line is, when you’re shopping for affordable home insurance, don’t simply choose the policy with the lowest rates. Find out exactly what types of damages are covered and for how much, and read the fine print to see if the low rates are a special offer that comes with specific conditions. Go online and do a search on the insurance company to see what other consumers say about it, and check with the Better Business Bureau to find out how the company is rated and whether there are any complaints about it.
Though it’s every homeowner’s nightmare, when you have a good homeowners insurance policy, damage to your home becomes an inconvenience rather than a disaster. For example, when your roof has been ripped off in a severe winter storm and you know just by looking at it that this is going to take much more than a Saturday morning replacing a couple of shingles, it’s great to know that your homeowners insurance policy will cover the costs of repairs. All it takes is a phone call to your insurance agent to set everything in motion, and before you know it, you’ll have a sturdy roof over your head again… and you won’t even have to pay the bill! Of course, this isn’t the only type of damage covered: burglaries, fires, vandalism and even accidents in your home are all examples of damages that can be covered by your homeowners insurance policy.
When you buy a new car, you probably compare auto insurance quotes from a number of different insurers so you can find the best deal. And that’s exactly how you should approach purchasing a homeowners insurance policy. Request a number of quotes to review. Besides simply looking at how much your premiums will be, you should review exactly what types of damages are covered, what the limitations of the coverage are, and how quickly each insurance company handles claims. It’s also a good idea to go online and research how other consumers rate each company so you know what kind of service to expect. Select the quote that offers you quick and quality service, adequate coverage, a realistic deductible and affordable premiums.
It’s easy to lose sight of what’s really important when you’re shopping around for a home insurance quote. The fact that out of pocket cost is one of the main selling points of a lot of home and auto insurance policies doesn’t help, either. But just remember this: if you’re comparing insurance, price should never be the determining factor. Quality and amount of coverage should be your main focus. But how do you know how much coverage you need?
The biggest part of determining that is to know the value of your home. And we’re not just talking about what it would sell for on the current real estate market or what you paid for it or what you think it’ll be worth in 20 years. We’re talking about what it would cost to rebuild in today’s dollars. You should also take these other factors into consideration:
• What is the total value of your belongings? If you own a lot of expensive electronics or collectible art that could be lost if your home is destroyed, you need adequate coverage for these.
• Your insurer may not be the best person to tell you what your home’s replacement would cost. In order to get an accurate dollar figure, talk to a local construction company instead.
• Consider getting a home appraisal from your mortgage company to help you determine its current market value. Although you should insure yourself for far more, this will at least tell you whether or not you’re underinsured.
Performing a homeowners insurance price comparison is just as easy as comparing auto insurance quotes, as long as you know where to look. Check out www.agentinsure.com to do one or the other, or both at the same time. By combining your home and auto insurance, you could qualify for substantial package savings.
Easy car insurance quotes can help you get the best rates on auto insurance when you buy a new car. Nobody wants to be on the road without adequate coverage, and in nearly every state, it’s illegal to drive without the state minimum auto insurance. That’s where easy car insurance quotes can help protect you from the moment you sign the sales agreement.
Get easy car insurance quotes before you drive your car off the lot
Whether you use your laptop, handheld or smart phone, all you need is Internet access to get instant quotes on auto insurance. Simply go to an online insurance comparison website like AgentInsure and fill out the online form. You’ll be asked to give your contact details, age, profession and the make, model, annual mileage and year of your car. You’ll also be asked to give the names of other drivers in your household, and to list any incidents such as claims, accidents or citations you’ve had in the past five years. If your car has safety features such as airbags, anti-lock brakes or an anti-theft device, be sure to list those too as they can result in further rate reductions, depending on the type of coverage you’re looking for. You’ll immediately receive a number of free easy car insurance quotes you can review before deciding which policy and rates are right for you!
High value home insurance is coverage that goes above and beyond the limits of standard policies. Many people these days are driven by finances to opt for home insurance that’s woefully insufficient to cover the actual cost of damages. If this sounds like you, you’re not alone. The real trouble lies in the fact that not many people know if they’d benefit from this high level of home insurance coverage. To find out where you stand, read the criteria below, which are generally seen as indicators that you could and should raise your level of home coverage.
- If the value of your home exceeds $300,000.
- If your home’s value exceeds the value of other homes in your immediate vicinity, regardless of its value.
- If you own a lot of expensive jewelry.
- If you own expensive art.
- If you own irreplaceable antiques.
- If you own high-end electronic equipment.
In addition to ensuring adequate coverage for the true value of your home and the contents therein, high value home insurance coverage offers a few additional perks you won’t typically find on most standard home insurance policies. These include more comprehensive coverage for unexpected overages for repair or replacement estimates, as well as mobile insurance, which extends coverage to your belongings while they’re in transit or if they’re temporarily moved from your home.
Do You Need High Value Home Insurance?
You might think of high value insurance as something that’s only for the wealthy, but with today’s rising cost of real estate you could easily find yourself a candidate. If you’re not sure what level of coverage is for you, talk to a home insurance agent to discuss your options.