With all of the terrible natural disasters that have hit the planet in recent months, many people are starting to compare homeowners insurance in order to add earthquake and flood insurance to their policies. Regular homeowners insurance policies do not include these options, but simply adding them to your policy could increase your insurance premiums significantly. However, not adding them could result in insurmountable costs in the event of a natural disaster. So how can comparing insurance help you get the coverage you need at rates you can afford?
Why you should compare homeowners insurance
When you compare homeowners insurance quotes, you’ll find the price varies significantly from company to company, and it’s not unusual to find a quote that offers you a better rate than you’re currently paying. Adding flood and earthquake insurance becomes much more affordable when you’re paying less on your homeowners insurance, so it might be a good idea to switch insurance carriers. A word of warning, however: most insurance carriers require at least 30 days notice before you can terminate your policy, so read the fine print carefully before taking action. Also make sure that the policy you want to switch to is in full compliance with your mortgage lender’s requirements.
Comparing insurance online
Comparing insurance online with AgentInsure is an easy, trustworthy way to find the best quotes on homeowners insurance. All you have to do is enter your information in the online form and your quotes will be sent to you by email. There’s no obligation to purchase any insurance and you can take all the time you need to review the quotes. Why wait? Request your free quotes from AgentInsure today!
Flood insurance is an important policy to consider having for your home. It provides protection for your home and personal belongings should your home be flooded. The question that arises about flood insurance is what defines a flood? Some people think that water damage from a drain or pipe would define a flood, but that danger is covered by an endorsed homeowner policy. A real flood can only be covered by insurance with a flood policy.
A flood is defined by the free dictionary 2011 as, “an overflowing of water onto land that is normally dry; an abundant flow or outpouring.” In other words, a flood is the rapid accumulation of rain water that affects several homes at the same time. As water rises, it gathers into a low-lying area and can cause severe damage to structures with which it comes into contact.
An example of what a flood looks like could be a river that suddenly overflows and causes damage to a home or structure near the banks. A flood is also water that cannot be absorbed by the ground fast enough, so it flows into the basement or ground floor and causes damage. Water that runs down a hill and brings part of the hill with it can also be classified as a flood. Usually a flood will affect several homes at the same time or it will affect several acres of land causing massive damage. A flood policy is designed specifically to handle and cover items and structures against the rapid accumulation of rain water.
Comparing insurance quotes online is a quick way to find out who offers the best Texas insurance coverage for the lowest price. However, there is more to comparing the quotes than just looking at dollar figures. Here are some other things you should look for when making your online comparisons.
For auto insurance:
- Specific information on your car.
An online quote may only ask you for the make and model of your car. It may not ask you about safety features, security features, and other things that could make a difference in the amount of your insurance premiums. When you are visiting an insurance rate quote website, look for one that goes into more detail about your car than just the basic information.
You may only be asked such questions as how long you have been driving, your age, and where you live. However, such things as whether or not you have taken a defensive driving course, your marital status, and other things can again make a difference in premium amounts. Again, you should look for websites that ask for more than just the bare minimum information.
For home insurance:
- Specific information on the type of home you have.
Depending on the building materials used in your home, especially if you have remodeled within the last few years, your insurance premiums may be lower or higher.
- Does coverage include flood damage?
This is very important, as many home insurance policies do not. You must purchase separate flood insurance. Unfortunately, a lot of people don’t realize this is the case until a flood occurs and their claim is denied.
Owning a home is not only a good investment; it’s also a significant financial responsibility. A home requires regular upkeep to keep it in good condition and increase its value, as well as adequate insurance to cover costs in the event of damages. That’s why experienced homeowners are always on the look out for the best home insurance rates. However, experienced homeowners also know that policies need to comply with mortgage lenders’ terms and conditions, and that it takes attention to detail to accurately compare home insurance quotes.
How to Compare Home Insurance Quotes
It’s a smart idea to compare home insurance quotes once a year to see if you can find a better deal with another company than your current insurance carrier. Before you compare home insurance quotes, make a list of all your insurance lender’s requirements for your home insurance policy. Next, make a list of your own requirements so you know what coverage you’re looking for when you compare home insurance quotes. For example, you might want to add flood insurance to your policy and compare home insurance quotes with the added coverage, or perhaps you want to adjust your deductible in order to get lower monthly premiums. Be sure to base the quotes you request on accurate information in order to get realistic quotes. When you compare home insurance quotes, always remember to read exactly how much coverage and what types of coverage each quote includes. If you find a quote that offers you the same coverage at better rates than your current insurance carrier, follow up with a call for more information. If you like what you hear, take the necessary steps to switch insurance companies.