Home insurance costs can vary based on a variety of factors, many of which you can control. Of course, there are some variables that are common to all home insurance policies. These include the size of your home in square feet, the cost of building in the area where your property is located, the materials used to build your home, the level of crime in and around your neighborhood, and the condition of your plumbing and heating systems of your house and electrical wiring. Do you live in an area prone to numerous natural disasters such as fires, floods or tornadoes? In this case, they can increase the cost of insurance.
There are numerous ways to reduce the cost of your insurance before you even decide to get a homeowners insurance quote. These include increasing your deductible, buying from the same insurance company that currently offers you car insurance, discounts on safety devices, and by making your home more disaster-proof. However, the biggest way to lower your overall costs is to get multiple homeowners insurance quotes.
The question that usually comes to mind for a consumer is how many citations it takes to make a decision. The truth is that if you’re comfortable with that first initial quote, it might just be a quote. Being a homeowner myself, I can tell you that I prefer to have at least three different home insurance quotes from different providers, with five or more quotes being about right.
Before the internet came along, this could be very time consuming and frustrating. Now it can be as simple as visiting one of the many websites dedicated to home insurance, filling in some information and waiting to see how many deals are made available to you. You can do this with five different insurance companies and get up to fifteen or more homeowners insurance quotes very quickly and easily.
After you have received all of your free insurance quotes, you should use the following four criteria to choose the right policy for you.
Price – Your internet research really pays off in this area as you can quickly see how much the protection you want will cost from several different providers. Remember, while lowest cost is your goal, it’s not always representative of the best policy.
Stability – An inexpensive insurance policy is of no use to you if the company offering the policy goes out of business when you need it most. Look for a company that is financially stable so you know they are close by to pay any claims.
Service – Don’t Be Fooled Customer service can be extremely important, especially when you call your insurance provider directly after your home has been destroyed by a hurricane. Your prospective insurance company and their representatives should answer your questions and process your claims fairly, efficiently and quickly.
Convenience – Probably one of the most important factors when it comes to finding the best home insurance. No matter how many homeowners insurance quotes you get, if you’re not comfortable with the provider’s policies, procedures, or insurance agent, the cost savings won’t matter. You want a representative or company to be easy to reach if you have a question or need to make a claim.
As you can see, as a general rule of thumb, at least three homeowners insurance quotes should be enough to help you find the best possible policy for your situation. My feeling is that five quotes can be more beneficial. Anything else might be overkill, but you never know, you might find that one home insurance deal that was hidden from everyone else.