Compare Cheap Home Insurance Quotes Online
If investing in a home is the most important financial decision of a lifetime, then shopping for the right home insurance policy is the second most important decision. To find the best rates, enter your zip code and apply for instant home insurance quotes today.
Why do You Need Home Insurance?
Although insurance isn’t required for those who own property outright, purchasing a home insurance policy is the best way to protect your family from financial burdens due to liability lawsuits, structural damage, property loss and theft. In addition to replacing lost and damaged possessions, a good insurance policy will reimburse you for temporary living expenses in case your home becomes uninhabitable.
Common Types of Home Insurance Policies
Fire and Dwelling – This broad-coverage home insurance policy is required for all financed homes before closing. Dwelling policies are designed to cover 100% of your home’s replacement costs in case of damage due to fire, smoke, water and other common perils. Dwelling policies also include garages and outbuildings.
Specialty Coverage – Flood insurance, earthquake insurance and specialty policies are designed to cover specific exclusions. These policies are particularly useful for those insuring homes in flood plains and other high-risk areas.
Liability Insurance – This coverage is an important part of any home owner’s insurance policy. Liability coverage protects your family and your estate in case someone is injured on your property or a tree falls and damages your neighbor’s car. In most cases, liability coverage limits can be adjusted to fit your needs and budget.
Umbrella Policies – When standard liability coverage limits don’t fully protect you, it’s imperative to purchase a high-limit personal liability umbrella policy designed to cover damage claims or a civil lawsuit if anyone is bitten by your dog, injured on your property or in your backyard swimming pool. Purchasing a supplemental umbrella policy can increase liability limits from $300,000 to to $1 million or more with benefits that cover attorney’s fees and all litigation-related expenses.
Personal Property Protection – This supplemental rider also known as a floater policy or personal article endorsement is designed to cover high-value possessions and collectibles on and off of your property. Floaters are ideal for portable items, such as golf clubs, guitars, sound equipment and valuable collections of jewelry and precious metals, which are prone to theft.
How to Find Cheap Home Insurance Quotes
1. Before you shop for home insurance quotes, review your credit report for errors that could hurt your credit score and affect home insurance premiums.
2. When you’re shopping for homes, you are also committing to insuring the building against fire and other structural damage. Before you buy, become familiar with the home’s age, construction type and system specifications.
3. Have your home inspected by a licensed home inspector to ensure your home is code-compliant and the roof, windows and septic systems other components are in tact and in functioning condition before you buy. Seasonal conditions, such as snow cover, can prevent buyers from identifying structural problems, so it’s important to hire a professional who can review all components thoroughly and qualify your property for home insurance policy discounts.
4. Request a copy of your home’s CLUE or comprehensive loss underwriting exchange report, which includes a five-year claims history on your property or the home you plan to buy. Reviewing a copy of a home’s CLUE report can give you a good idea of what type of problems and home insurance rates to expect.
5. Create a list of home specifications and building upgrades, which are often included on realtor spec sheets. Providing accurate square footage and building information is extremely important to ensure you aren’t under covered or over paying.
6. Raising your deductible is one of the easiest ways to reduce your annual premium and total number of claims. As a general rule, choose a plan with the highest deductible you can comfortably afford whether that’s $500 or $5,000.
7. Inform yourself about policy exclusions before shopping for home insurance. If you’re interested in a home with a woodstove or fireplace, it’s important to know whether the chimney is code-compliant and safe to operate. A home inspector can also help determine the integrity of wood heating systems.
8. Look into home insurance discounts for smoke detectors, security systems, secure locks and approved outdoor lighting. Non-smokers and homes in close proximity to fire hydrants or a firehouse can also benefit from reduced home insurance premiums.
9. One of the biggest mistakes is insuring a property for its full purchase price; insuring the land isn’t necessary. Whether you have a mortgage or own outright, it’s imperative to insure 100% of your home’s replacement costs, including granite counter tops, stainless steel appliances, hardwood floors and building upgrades.
10. The most important step for saving money on home insurance rates is applying for competitive quotes from a variety of providers. Simply enter the property’s zip code and relevant data for a comprehensive list of home insurance quotes that can be sorted by premium, deductible or provider.
Protect Your Home with Comprehensive Home Insurance
A home insurance policy that offers actual replacement costs and comprehensive coverage is the best way to protect your home, family and valuable investments in unexpected circumstances. When a storm strikes or a thief targets your neighborhood, your insurance policy offers iron-clad protection against the most common perils facing your family and residence.
Peace of mind is only one benefit of a great home insurance policy. With affordable rates and comprehensive benefits, paying your insurance bill will be something to look forward to. Independent companies provide unbiased quotes from the best insurance companies nationwide. Apply online today for a list of home insurance quotes for your property.