Comparing Home Insurance Quotes what to look for in Home Insurance Quotes

How to Compare Home Insurance Quotes

When you start shopping for home insurance it is important to request several quotes from insurance providers. These quotes are free and you are not under any obligation to accept any of the quotes you receive. Experts recommend that you request a quote from at least three different insurance providers and more if you have the time needed to sit down and compare them.

When you visit the website of an insurance company with the goal of requesting a free quote, it is unlikely that you will be able to check the home insurance rates the company charges. This is because the rates change according to region and in some places the rates are set by the government or insurance industry. There are other factors that go into determining the rates you are charged for a policy and these depend on the answers you give to the questions asked on the site.

The insurance company needs to know the age of your home, the size, the type of material used in the construction, the type of heating you have and if you have any safety features installed to safeguard against burglary or flooding inside the home. While the bottom line of each quote will certainly be the price of the annual premium, you also have to look at the amount of coverage you have in the quote. In order to do an accurate comparison, it is important that you provide exactly the same information to each company.

When you receive the quotes by return email, take the time to read each one of them carefully making notes as you do so. First look at the amount of coverage for your home and property. Is it enough to rebuild the home if it were to be completely destroyed? Does the insurance company offer you the opportunity to have replacement costs on the home and your personal belongings? This is essential because it means that if you were to suffer a total loss, depreciation would not be a factor in determining how much money you will receive from the claim.

The named perils in each home insurance quote are significant factors that you must consider when comparing the quotes. Fire, theft, vandalism and damage from wind, and ice are usually standard perils in a policy. Check to see if the perils include hurricane damage if you live in an area that does receive high winds. Water damage from broken water or sewer pipes is also something that you should have included, but very few insurance companies offer insurance against flooding that occurs outside the home or damage as a result of earthquakes.

The coverage you choose can be 80% or 100% of the cost of replacing the home and this will naturally come with coverage on your personal belongings equal to half that amount. There is usually a dollar limit placed on coverage for such items as expensive furs, jewellery, artwork and electronics. You need to compare the home insurance quotes to ensure that this coverage is adequate for your needs. In the event that your home is totally destroyed, you will need to have provision in the insurance policy for the expenses associated with paying for your stay in a hotel or renting an apartment until such time as your home is ready for you to live in it again. If this is not mentioned in the quote, then you should toss this in the garbage.