How to compare homeowner insurance quotes

At Insurance Best Prices you can request homeowners insurance quotes online for free. A home insurance quote is an estimate of how much you can expect to pay to insure your home from a particular insurance company. To generate a homeowners insurance quote for you, you will need to provide general information including how old your home is, where your home is located, your claim history, and what amount of home insurance you need.

How is my home insurance quote calculated?

Home insurance companies use a variety of factors to generate your home insurance quote including home insurance policy limits, structure and age of the house, your home’s location, your home safety features, your marital status, insurance claim history, your credit history, attractive nuisances on your property, and home business status.

What to look for when you receive your home insurance quote.

You should compare the monthly premium and dwelling amount you are receiving. Some insurance companies may charge a lower premium, but you’re getting less coverage as a result. Make sure to review the dwelling coverage in each policy you are comparing. The dwelling coverage amount is the maximum reimbursement an insurance company will pay you if you have to rebuild your home.

Homeowners insurance policies are standardized, such coverage should not vary much from company to company. However, there are parts of a homeowners insurance quote that may change between insurance companies like:

·        Coverage limits that dictate the maximum amount a company will pay out

·        Type of replacement

·        Deductible amounts

·        Additional coverages and endorsements

There are different types of policies for home insurance, referred to as HO-1 to HO-8. These policy types are built based on the kind of housing you live in and your home insurance needs. The most popular type of home insurance is HO-3.

Coverage Types

There are 6 types of coverages within a standard HO-3 policy with their own coverage limit.

Dwelling – this covers the cost to rebuild your home.

Other Structures – 10% of dwelling, covers the other structures on your property, like a garage

Personal Property – 50% of dwelling, covers your belongings

Loss of Use – 20% of dwelling, covers extra living expenses if you temporarily cannot remain in your home

Personal Liability - $100,000, legal and settlement costs if you are sued and found liable

Medical Payments to Others - $5,000, covers medical expenses if a guest is injured on your property

There are some deductibles you might see on your policy quote. These ca include a policy deductible and special deductibles for things like wind, hail, and hurricane. The amount you need to pay out of pocket may change depending on the natural disaster that causes damage to your home.

Get a free homeowner insurance quote today from Insurance Best Prices and save on home insurance.