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Home Insurance Quotes
Getting the right coverage for your home that protects your investment fully is an important step you should take seriously. After all, your home is not just your castle, but likely one of the biggest investments you will ever make. You need to make sure you protect your home and its contents from any foreseeable disaster. With the help of online home insurance quotes, getting your home insured at a great rate is easier than ever. Let’s take a close-up look at ways to save on homeowners coverage while getting the policy that is right for you.
Home insurance costs continue to trend upward. In the last decade, the average home insurance cost has risen by about 50%. The current United States national average is about $950 annually; this breaks down to about $79 per month. Keep in mind that this is just an average of all 50 states in the USA. Some states have barely increased at all while others like Florida have almost doubled. Florida’s rates have increased a great deal due to several catastrophic hurricanes that caused billions in damages.
Many insurers were either forced to raise rates in the Sunshine state or pull out altogether. Other states with high premiums of 40% or more above the average are Louisiana and Texas. Louisiana has seen an increase in rates due to Hurricane Katrina and other natural disasters. Residents in coastal areas with a recent history of costly storms have seen the greatest increases in pricing over the past few years.
There are still some states that have very low average homeowners rates. Idaho residents pay an average of only $50 monthly, and Florida’s monthly average is only $65, this is about 40% of the average premiums Florida residents pay. Many Midwestern states also have cheaper homeowners costs. Get your free home insurance quote today, and compare multiple rates in a matter of minutes.
Best Home Insurance Coverage
You should carefully review these four categories before buying coverage:
- Claim history
Whenever you buy insurance, you are putting trust in the company you are doing business with, which in the event a claim is made, there will be money available to compensate you. Getting the right home insurance company is just as important as purchasing the proper coverage. You should do your due diligence on any carrier you plan on insuring your home with. Go to sites like A.M. Best and research the financial strength of each company. Make sure they have an A or better rating.
If you are getting auto insurance, you can probably get away with a B or maybe even a lower rating. However, this is your home we are talking about and all of the contents inside. You need to be super careful only to entrust your home insurance with quality, financially stable firms. Also, make sure each insurer has been in business for at least ten years and research their claim history.
The coverage you buy should cover the actual cost of replacing your home in the event a total loss occurred. For example, let’s say your home is appraised at $300,000. However, in the case of a total loss like a fire, it might cost $325,000 to rebuild. You also need to take a proper inventory of your home contents and their total value. It’s a good idea to take a digital camera or film each personal asset you plan on adding to your policy. If you live in a high water damage risk area like Florida, you can add flood insurance to your policy or purchase it directly through an agent recommended at FloodSmart.gov.
Pricing Is a Huge Factor You Should Carefully Take Into Consideration
Rates can vary significantly between each company, so you need to compare many prices. The best way to research the lowest rates is by getting a free online quote. You can compare multiple rates online and choose the companies that have the lowest rates. Get your quote now and start comparing home insurance quotes in just 5 minutes.
Once you have found a company with low prices and excellent financial strength, do a few more minutes of research. Make sure the company has a quality website that allows you to make payments online and also has claim updates at the site. Check the company’s claim response rankings with research firms like J.D. Power. Some carriers have 24/7 service and immediate application response. If you are ever in a bad situation, like a tornado that has left you homeless at 3 in the morning, instant claim assistance is super valuable.
Also, Make Sure You Get All the Discounts You Qualify for.
You can save a lot of money by bundling both your home and auto insurance policies with one insurer. You can get even better rates by installing alarm monitoring systems and fire detectors throughout your home.
Start your online home insurance quote now and check out the best rates for yourself.