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Have you considered bundling your auto and home insurance?

SelectQuote customers save, on average, $757 by bundling home and auto insurance with the same carrier.*

A woman smiles as she speaks with a SelectQuote agent on the phone because she received her free home insurance quote

Homeowners Insurance

Making the move to purchase homeowners insurance is a smart way to protect your home and family. You want to make sure you’re getting the best homeowners insurance coverage available at a price that fits your budget, and SelectQuote can help. We shop home insurance rates from dozens of the nation’s top-rated carriers to find you the right coverage at the right price.*

What is home insurance?

Home insurance protects one of your most important investments, giving you coverage in case something were to happen to your home. A homeowners insurance policy can safeguard your home and possessions, and help with repairs if damage occurs.

Having adequate coverage not only protects you financially if something happens, but most mortgage lenders require you to have a homeowners insurance policy. It’s important to protect the things that matter most to you, and securing the right home insurance could mean less stress for you in the future.

How does homeowners insurance work?

Home insurance is a contract between you and an insurance company that works as a financial protection in case your house is damaged or destroyed. By paying a monthly premium, the insurance company will provide coverage to repair or build your home after events like fire, smoke, theft, vandalism and more. Most standard home insurance policies also provide coverage for personal belongings such as furniture, clothing and other possessions. Mortgage lenders often require home buyers to secure home insurance coverage.

Types of Homeowners Insurance Coverage

There are several types of home insurance coverage to protect your home, including:

Type of Homeowners Insurance CoverageWhat This Coverage Protects...
DwellingDwelling coverage should cover the cost it would take to rebuild your home, also known as your home’s replacement cost, in the event it was destroyed. Dwelling can also cover garages and other detached structures on your property.
Personal Property CoverageThis covers belongings such as furniture, electronics, clothing, equipment and more if they were damaged.
Personal LiabilityPersonal liability protects you and your family financially from expensive lawsuits if you or residents of your household are legally responsible for someone else’s property damage or bodily injury.
Loss of Use & Additional Living ExpensesThis coverage type pays for your housing, meals, animal boarding and other expenses (up to a specified limit) if you are unable to stay in your home due to an uncontrollable event.

Types of Homeowners Insurance Coverage

Dwelling

What This Coverage Protects…

Dwelling coverage should cover the cost it would take to rebuild your home, also known as your home’s replacement cost, in the event it was destroyed. Dwelling can also cover garages and other detached structures on your property.

Personal Property Coverage

What This Coverage Protects…

This covers belongings such as furniture, electronics, clothing, equipment and more if they were damaged.

Personal Liability

What This Coverage Protects…

Personal liability protects you and your family financially from expensive lawsuits if you or residents of your household are legally responsible for someone else’s property damage or bodily injury.

Loss of Use & Additional Living Expenses

What This Coverage Protects…

This coverage type pays for your housing, meals, animal boarding and other expenses (up to a specified limit) if you are unable to stay in your home due to an uncontrollable event.

Homeowners Insurance Coverage:

Home insurance provides coverage for costs you could incur from:

  • Fire
  • Water damage
  • Theft
  • Damage from weather
  • Leaking, frozen and burst pipes
  • Personal injury occurring on your property

What does homeowners insurance NOT cover?

Home insurance won’t provide coverage for costs you could incur from:

  • Damage from normal wear and tear
  • Damage as a result of neglect
  • Damage from natural disasters such as earthquakes, tornadoes and floods
  • Water/sewage backup

How much does home insurance cost?

There is no set cost for home insurance, so everyone’s homeowners insurance rates may look different. Your home insurance premiums could be influenced by factors like:

  • Location of your home
  • Your chosen deductible amount
  • Your marital status
  • Your roof’s condition
  • Your credit score
  • Your claims history
  • Age of your home
  • Any renovations done to your home
  • The replacement cost of your home
  • Home security systems and safety features

Homeowners Insurance Discounts

Home insurance discounts make it easy to save on home insurance. There are plenty of discount options that you can qualify for, including:

Multi-Policy Discount

When you combine your home insurance with your auto insurance policy, you can earn a multiple policy discount, also known as bundling. Customers who bundle with SelectQuote save, on average, $757.*

New Construction or New Home

You could potentially qualify for a discount if you recently built your home or bought it within the past 12 months.

Home Security System Discount

Installing a home security system or other security measures in your home can earn discounts from certain carriers. This could include smoke alarms, fire extinguishers, leak and water sensors, and more.

How You Pay

Paying for your home insurance policy in full, choosing a higher deductible, or signing up for paperless billing are just a few examples of ways insurance carriers offer discounts.

Bundle Your Home Insurance to Save Money

One of the biggest ways you can save money on home insurance is by combining your insurance policies, also known as bundling insurance. Home and auto insurance bundles have several benefits besides the amount of savings. The advantage of working with one carrier instead of multiple means less hassle and a more streamlined claims process. SelectQuote helps save customers who bundle their home and auto insurance policies $757 on average.*

How to Buy Homeowners Insurance

When it comes to buying your home insurance policy, the process may seem overwhelming. But at SelectQuote, we make securing a homeowners insurance policy simple while looking for ways to save you money.

Step 1: Decide your coverage.

Evaluate the replacement cost of your home, making sure all of your valuables and possessions are covered. Working with SelectQuote will help ensure that you are getting the coverage you need to protect what matters most.

Step 2: Choose a deductible amount.

Your deductible is the amount you pay before any claim is covered. Choosing a lower or higher deductible amount depends on your situation, but SelectQuote can help decide which one is best for your needs.

Step 3: Let SelectQuote do the work.

Instead of shopping rates from dozens of carriers by yourself, SelectQuote can shop top-rated carriers in just minutes.* This can save you time, money, and stress when it comes to securing an affordable home insurance policy.

Other Types of Property Insurance Coverage

Umbrella Insurance

Umbrella insurance is a way to safeguard yourself and your assets when an accident occurs and you’ve exhausted the limits of your home insurance and auto insurance.

Renters Insurance

Renters insurance typically covers liability and personal property, which can help pay to replace your belongings if they’re stolen or damaged by a covered risk. Many landlords and properties require renters to have rental insurance.

Condo Insurance

While your condo association’s master policy will cover the damage that happens to your condo’s building, grounds or other external features, condo insurance will make sure your personal possessions, appliances and other pieces of the unit are protected.

Flood Insurance

Since flood damage is often not covered under standard home insurance policies, flood insurance will cover direct physical loss from floods and losses resulting from flood-related erosion. It will also help cover the costs of repairs or replacing belongings such as clothing, furniture, electronics and more.

Earthquake Insurance

Since damage from an earthquake isn’t typically covered under home and renters insurance policies, earthquake insurance can cover harm to your house, personal belongings, and additional living expenses (ALE) or loss of use, which are the costs to live somewhere else if you have to evacuate or repair your home as a result of an earthquake.

RV Insurance

RV insurance covers many of the risks auto insurance does, including collision, comprehensive and liability coverage. You can also purchase additional protection for personal belongings on board, equipment and attached accessories such as awnings and satellite dishes.

Boat Insurance

Boat insurance insures your boat against damage and loss caused by common risks such as sinking, fires, storms, theft and collision.

Learn More About Homeowners Insurance with Additional Resources

Whether you’re looking for more information about different types of homeowners insurance coverage or you’re interested in determining your needs through our coverage quiz, we’ve got you covered. We have the experience and the knowledge to help answer your questions. Check out our home insurance articles to learn more.

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Compare Home Insurance Coverage with a Free Home Insurance Quote Today

We understand that shopping for homeowners insurance can feel overwhelming, so we’ve made it easy to save time and money when shopping. We compare home insurance rates from dozens of highly-rated insurance carriers in just minutes, providing you a free homeowners insurance quote at no extra cost to you.* Let us see how much we can help you save today.