Homeowners insurance is designed to protect your most precious investments; your home and personal belongings, making it a crucial part of proper financial planning. As you’re reviewing your coverage options, it’s important to take a few key factors into consideration when obtaining quotes, including coverage types and limits, property details, your claim history, and any location details. One of the easiest ways to compare quotes is by shopping around and considering all your options for home insurance coverage. In this article, we’ll explore how to shop for homeowners insurance quotes, the information you’ll need to know when obtaining a quote, and key questions to ask carriers to ensure you’re as informed as possible when purchasing a new policy.
How do you shop for homeowners insurance quotes?
Shopping around for homeowners insurance quotes can help you find the best coverage at the most competitive rates. Obtain quotes from multiple insurers to compare premiums, coverage limits, deductibles, and any available discounts.
You can request quotes directly from insurance company websites or for additional ease and peace of mind, use an insurance brokerage like SelectQuote to receive quotes from multiple insurers in one place. A brokerage can also help you inquire about available discounts, such as those for bundling multiple policies, having security and safety features in your home, or maintaining a claims-free history.
Information You Need to Get a Home Insurance Quote
When obtaining a home insurance quote, you'll need to provide specific information about your property and personal circumstances. In order to receive a free home insurance quote, you’ll have to answer a series of questions. The more information (and the more specific the information) you provide, the more accurate your quote will be. Here's a comprehensive list of the information typically required to get an accurate home insurance quote:
1. Personal Information
You’ll want to have your basic information on hand, such as contact information, how long you’ve lived in your home, and the number of people who live with you. You also might be asked to provide more information about your job, if you have a home business, and if you have any pets.
2. Information About Your House
You’ll need information about your house, such as your address, when the house was built, and property features, like if there are additional buildings on the property (like a shed or detached garage), and the age of your roof.
3. Your Location
Prices and coverage requirements often differ depending on where you live. You’ll likely need to provide your proximity to public services such as fire or police departments, as this can also play a role in determining your home insurance rates.
4. Your Personal Belongings
It’s important to have a thorough home inventory before deciding on a home insurance policy. You’ll want to have a complete list of your possessions, including furniture, jewelry, and other assets, as well as their values to help you determine what additional coverage you need beyond a standard policy.
What questions should I ask when getting an insurance quote?
When getting an insurance quote, it's essential to ask the right questions to ensure that you fully understand the coverage being offered and make an informed decision. Whether you’re curious about the amount of home insurance you need or what exclusions are part of the policy, it’s important to learn as much as you can about a carrier and the policies they offer. Here are some important questions to ask when getting an insurance quote:
1. How much home insurance coverage do I need?
Since every home and policyholder is different, there’s no one-size-fits-all option for home insurance. Ideally, you’ll want a policy with enough coverage to cover the cost of rebuilding your home and fully replacing its contents after a catastrophe. After we help find a policy that makes sense for your needs, SelectQuote can recommend additional coverage to cover any gaps.
2. What SelectQuote home insurance discounts are available to me?
SelectQuote shops for insurance coverage and discounts from a variety of companies. From bundled home and auto insurance policies to loyalty discounts, most carriers offer opportunities to cut costs on your insurance premiums. For example, homeowners insurance customers may be eligible for a home insurance discount just for installing hardwired smoke detectors or a full home security system.
3. What deductible do you recommend?
Choosing an insurance policy is often about striking the right balance between the cost of your premium and your deductible. Lower monthly premiums generally lead to higher deductibles and vice versa. By working with SelectQuote, you can easily weigh the advantages and disadvantages of each.
4. What exclusions are part of the policy?
You can often find many exclusions in home insurance policies, from flooding and earthquake coverage to wildfire coverage (depending on where you live). Clarify what is and isn’t included in your policy. SelectQuote can help simplify the process and ensure your policy has the coverage you need without any unexpected gaps.
Get a Free Homeowners Insurance Quote Through SelectQuote
Comparing homeowners insurance coverage and rates from multiple insurance companies can feel overwhelming, especially if you’re unsure about the type or amount of coverage you need. At SelectQuote, we make the process easy and can provide free home insurance quotes from some of the most trusted insurance carriers in just minutes. We’ll take the time to learn about the property and belongings you need covered and answer any questions you have about your policy options so you can choose the policy that’s right for you.
