Getting home insurance estimates is a good idea as it can save you money. The process can be done pretty quickly too. Here are some tips.
Getting several estimates or quotes is one of the easiest and best ways to save money on home insurance. This is because rates can vary quite a bit from one company to the next. It’s recommended that you get at least three quotes from different companies or agencies. To make it easier, have your information ready such as:
The amount of your coverages
The amount of your deductible
If you already have homeowners insurance, you can refer to your current policy’s declarations page when getting quotes. You can also estimate the coverage you need for dwelling by multiplying the square footage of your home by the cost-per-square-foot for rebuilding your home with similar materials. You can often get this information from a local realtor or home builders association. Remember, you don’t need to insure the value of the land your home sits on.
Now personal possessions are also covered, but this is usually just a percentage of your dwelling coverage and will most likely be generated by the quote. Of course, you can change this amount, or get additional riders if you need higher amounts for your possessions.
The Internet makes it pretty easy to get your quotes. You can often look up individual companies that provide homeowners insurance in your area by going to the department of insurance Web site for your state. Then, you can visit their Web sites and request a quote. Just make sure to enter the same information each time you get a quote for the most accurate comparison.
Or, many people are finding it convenient to visit an insurance comparison site. These sites typically do not represent a single company. Instead, you fill out an online form one time, then submit it. You then get several quotes back from agents or companies that do business in your area.
Besides comparison shopping, other ways you can save include increasing your deductible and taking advantage of any discounts. Always ask about discounts once you’ve settled on an estimate to make sure you get the savings you deserve.