Looking for affordable home insurance? Did you know that a simple home insurance quotes comparison can help you save up to 45%? Our simple on-line form takes less than a minute to fill – its fast, easy and secure. Join the thousands of Americans who are saving money on home insurance and spending it on the more important things in live.
You may find the difference in rates astonishing.
Home Insurance Basics
Buying your home is probably the single biggest investment you have ever made. Doesn’t it make sense to protect it well? Choosing the first home insurance quote you receive is just not good enough. You need to know what your needs are and what amount of cover you must have. Understanding the terms of your policy is of paramount importance. Its true that sometimes insurance professionals try to use industry terms and jargon, which can make things seem unnecessarily complicated.
Still, you can’t go wrong if you are familiar with the basics. Considering your personal circumstances and reading the following information will make the decision making process easier.
Nowadays, home insurance is required by most mortgage lenders. Typically, a standard policy will cover your home against theft, fire, smoke, damages caused by you or members of your family. Liability coverage is almost always included too. It is important not to skip on liability coverage because it is fairly inexpensive and offers a good protection.
What a policy doesn’t cover will vary depending your insurer, but in general your home will not be protected, by a standard home insurance, against acts of war or terrorism, earthquakes, wear-and-tear damages and floods.
One of the biggest questions is how much to insure your home for. Many people make the mistake of choosing the market value of their property. What you should be more concerned about is the rebuilding value of your home. Another mistake which individuals often make is to include the value of the land itself. Think only about the actual building and the content inside.
Your personal belonging, the content of your home, will probably need to be insured for an amount equal to 50%-70% of your home’s value. Taking into consideration the fact that some items in your home have great sentimental value and are irreplaceable, you can never have too much home content insurance. Certain items of high value, like jewellery or collectables, may need to be listed on the policy separately.
Carefully consider your deductible amount. Usually it starts from around $250, but you will be surprised to find out what kind of discounts insurance companies are offering to people who are prepared to increase that amount. The following figures are an example which will give you a good idea how much you can save if you increase your deductible to:
- $500 and save up to 12% on your premiums.
- $1,000 and save up to 24%.
- $2,500 and save up to 30%.
- $5,000 and save up to 37%.
Always check the additional living expenses (ALE) coverage. If for some reason your home is uninhabitable, this coverage will cover the cost of renting an apartment or staying in a hotel. Generally, the ALE benefit should be around 20% of your home’s replacement value.
Home Insurance Comparison
Now that you understand the basics, know what to look out for and which are the important factors, you can confidently start searching for the right policy for you by comparing home insurance quotes.
Here is a little trick that helps 9 out of 10 people to find cheap home insurance. First of all, obtain a few quotes on-line from different insurance companies. Make a not of the top quote you receive which fits your needs. Secondly, give your local insurance agent a ring. Let him know what kind of quote you have found on-line, including monthly premiums and amount of cover, and ask him to beat it. Considering the state of our economy, most agents will be happy to cut their commission and offer you a better deal or a discount in order to win your business. Even if they don’t, you know you have found the best deal online and you will be happy with your choice. Its a win-win situation.
What are you waiting for? Take the first step now.