Does your current homeowners insurance policy provide you with all the coverage, as well as the quality service you deserve? If you’ve answered “no” to this question, it’s time to make an insurance rate comparison to see where you can get better coverage and service for a similar or lower price. What follows are some pointers on what to consider when making an insurance rate comparison for your homeowners insurance policy.
- Are the coverage limits high enough? Especially for those who own homes that are worth over $300,000, it’s essential that your property is insured for an adequate amount. That means that the coverage should be enough to cover realistic repair and replacement costs of your home. If you’re not sure whether this is the case, ask a realtor and an independent contractor what kind of sum you’d be looking at and compare their answers to your insurance coverage.
- Does the homeowners insurance policy provide realistic coverage? You should always make sure that you’re covered for realistic events. For example, if you live along the East Coast, chances are you’ll face severe wind damages at least once in your life. If you live in California, you need coverage for earthquakes and wildfires. Some of these will be included in your policy, but you’ll most likely need to purchase other coverage types such as flood insurance separately. Add the total costs up before deciding whether a quote offers a good rate or not.
- Is the insurance company trustworthy? Obviously, the larger insurance companies are well-known for a reason and know how to handle claims efficiently. But smaller, unknown companies may offer great rates too. Check their reputations with the Better Business Bureau before committing to any policy with an insurer you don’t know.
So you’ve found the perfect partner and the perfect home; now it’s time to find the perfect homeowners insurance policy. Scary as it may seem, getting the right insurance is one of those things in life that you should research thoroughly. Though many first-time homeowners simply consider the financial burden of making monthly insurance payments, those who are more experienced know that making a good choice is a more complex process. What follows are three tips on what to consider when making an insurance rate comparison and buying your first homeowners insurance policy.
Tip #1 Does the insurance policy offer enough coverage? In the event of severe damages or even total destruction of your home, you’ll need to know that your insurance policy offers sufficient coverage. It’s important to know that repair and replacement costs run higher than in some areas than others, so do some research to find out how much coverage you realistically need for your home.
Tip #2 Does the policy take devaluation of your property into account? You should decide whether you want a policy that gives you the current replacement value of your property. This may be more expensive, but it can be worth it to keep your own costs low in the event of a claim.
Tip #3 Does the policy include homeowners liability insurance? You need to be legally protected in the event that somebody is harmed or injured while in your home, and you also need to be able to meet any medical costs that might arise as a result of injury.
One of the things you’ll learn when you go to compare home insurance quotes is that houses that have alarm systems typically pay far less for coverage than houses that don’t. The reasons why are easy to understand. A home that’ll send up flashing lights and screaming bells and make automatic calls of distress to the police is a lot less likely to get burglarized than one that’ll sit silently as it’s being violated.
But not just any old alarm system will do the trick of lowering your monthly fees, as you’ll likely find out when doing an insurance rate comparison online. And there are other things you can do in addition to installing a burglar alarm that will lower your insurance rates.
• Spring for a home security system from a trusted, brand name company.
• Ensure that every single entry point in your home is alarmed, including your garage door. Extending your security system to your garage may also play a factor in lowering your car insurance premiums.
• Replace all of the locks on doors and windows throughout your home, and don’t skimp on cost. The more money you spend on high quality, unbreakable door and window locks, the lower the rate you’ll see reflected when you compare home insurance quotes.
• Talk to the insurance company to ask if they have any preferred security providers. You might discover some additional savings if you go with a home security company that’s endorsed by the home insurance provider of your choice.
Home security’s no place to mess around. If you’re concerned about the safety and well-being of your family and your stuff (as all smart people should be) you’ll consider all anti-theft measures, regardless of how they impact your home insurance premiums.
If you’ve ever wondered if you’re paying too much for your home and auto insurance, you’re not alone: thousands of Americans use online insurance rate comparison tools to see if they can beat their current insurance rates. Whether you’re comparing auto insurance quotes or property and casualty quotes, seeing what you pay and what you get has never been easier.
Online Insurance Rate Comparison
When comparing insurance rates is the business at hand, of course you can go ahead and call the major insurance carriers for quotes. You’ll probably be on the phone for hours telling customer service representatives your information so they can make up their quotes for you, and then you’ll have to wait for days until all of the different quotes arrive by mail. With online insurance rate comparison, you never have to experience these inconveniences again. You simply fill out your information once and immediately receive a number of quotes at your email address. This makes comparing auto insurance quotes and home insurance quotes easy, as you have all of the information on the screen in front of you. In addition to ease and convenience, there’s another huge advantage to online insurance rate comparison: the rates are oftentimes lower! Though insurance companies regularly offer low rates on their own websites, comparison websites often get even lower rates thanks to special deals and discounts! If you take advantage of any of these rates, make sure to read the fine print so you know if your premiums change after a set period of time.