How to Compare Home Insurance Quotes

Homeowners insurance is very important, given that it can help protect your biggest investment, your home. Unfortunately, you can’t go to one company and just buy a policy from them, especially if you are looking to get the best rate. Since home insurance rates can vary significantly from company to company, it is important that you get quotes from different insurance providers and compare the pricing and coverage of these policies, before you make a decision. Here’s a look at a few things you should take into consideration when comparing home insurance quotes.

Types of Coverage

Homeowners insurance helps protect your home against a number of risks, Examples of the covered risks include lightning, fire, and theft. When comparing home insurance plans, you may want to take a closer look at the types of coverage offered by different companies. The most common types are

Dwelling Coverage

This coverage could help you rebuild or repair the physical structures in your property if they are damaged due to a covered peril.

Other Structures Coverage

This type of coverage helps protect other structures that are not directly connected to your home, like sheds and fences.

Personal Property Coverage

This coverage protects your belongings from covered perils.

Liability Coverage

If someone is injured in your home and you are found responsible for it, this coverage will help pay for the resulting legal costs and medical bills.

Additional Living Expenses

If your home is damaged due to a covered peril and you cannot live there, some policies will pay for your alternate living expenses.

Weigh the Limits and Deductibles

Your policy’s deductible is the amount of money you will need to pay out-of-pocket before your insurance company will begin paying their share of the claim. A policy with a high deductible will likely be less expensive to purchase, but you will have to pay more in case of a claim. Be sure that all the policies you compare have the same deductible and that it’s something you are comfortable with. Make sure to also consider the maximum amount the company will pay in case you get a claim. The limits you get will affect the cost of your home insurance policy.