Homeowners Insurance Quotes: Tips for Getting the Best Ones

May 7, 2023 0 Comments

Once you’ve found the home you’d like to buy and have started the home closing process, you’ll need to start looking for a homeowners insurance policy that meets your needs and your budget.

Depending on the part of the country you plan to live in, the size of the home being purchased, and the number of theft-prone possessions inside, insurance price quotes can vary greatly. But most price quotes from a private insurance company will be between $300 and $1500 a year.

We hope you’re working with a helpful real estate agent who has already educated you about the importance of searching for homeowners insurance price quotes before deciding on a coverage plan that’s right for you.

If you haven’t already been told by a real estate agent, it’s best to call at least three different insurance companies to get price quotes for your home. You may already have an insurance company in mind, possibly one that takes care of your parents’ insurance needs or one that already takes care of your car or life insurance.

If you don’t already have an insurance company, don’t be afraid to look up insurance companies online or through the phone book. You can also recognize the names of the advertisements. Feel free to use these names as a starting point for a quote.

Regardless of which insurance companies you decide to start your search with, make sure you get at least three different price quotes from three different agencies before settling on the best quote for your home.

Before you start calling insurance agencies regarding a price quote, it’s best to have a thorough understanding of the home you’re buying. This includes the current appraised value of the home or an estimate prior to the listing of the home.

You’ll also want to have a list of the dimensions of the house and the amenities inside the house, such as the square footage of each room and any special flooring, countertops, or architectural design that will increase the value of the house.

Also, before you begin, have a list of belongings that will add value to the home, such as appliances, furniture, jewelry, and any major artwork or collectibles. Having all of this information ready can speed up the rate quote process.

With the advent of technology and computers, many of the major home insurance companies have begun posting information online for quick 10 to 15 minute rate quotes. This frees him from having to talk to a representative on the phone who may be trying to talk him into insurance he doesn’t need.

Many of these websites also provide information explaining the different types of insurance, so you can sit back and read the information without feeling like you’re asking too many questions.

Some of the major insurance companies that have information available online as well as quick rate quotes for homeowners insurance include Allstate, State Farm, Liberty Mutual, and Travelers insurance companies. Of course, there are several other insurance companies available online, so take the time to research these companies if you have access to a computer and the Internet.

If you’ve tried several insurance companies and you’re still not satisfied with the price quotes on offer, try changing the plan details. Before you lock yourself into an insurance rate you’re not happy with, ask about changing your deductible, coverage costs, or even personal liability insurance.

It really is a personal preference how much insurance is enough for your family, so keep in mind that if you feel you can’t afford the price quotes on offer, there are ways to make payments more manageable.

One of the best ways to manage your annual homeowners insurance payment is to simply increase the deductible, or the amount the homeowner will pay before the insurance company steps in and starts paying for damages or losses. Most insurance companies will require a minimum deductible of $250 or $500, but the homeowner can easily change that deductible to $750 or $1000 to lower the annual payment.

If this still doesn’t work to give you a fair price quote, talk to the insurance agent and ask for options regarding rate reduction. If you give them a ballpark figure for how much insurance you can afford per year, most of the time they will work to help you reach these figures.

You may even consider adding security or fire protection features to the home, if that insurance company offers a discount for these features. Although adding these features may cost you a bit of money out of pocket, it will save your insurance premium in the long run.

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