Your Home Insurance Rate
Savvy homeowners knows that insurance rates vary considerably from one home insurance company to another for the same coverage. Taking the time to investigate homeowners insurance companies will ensure that you’re getting both the right coverage to meet your needs and a competitive price.
What Determines Homeowners Insurance Rates?
The kind of discounts that a homeowners insurance company will offer depends on a number of factors:
- Location, age and type of residence
- Local fire protection
- Choice of deductibles
- Application of discounts
- The scope and amount of insurance coverage purchased.
Do Your Home Insurance Company Homework
Shop around to get the best value for your insurance dollar. Using NetQuote, get several quotes for discount homeowners insurance from more than one home insurance company, then compare them side-by-side. Keep looking until you find one that offers the most attractive combination of coverage and premium. It’s best to get a couple of Home Insurance Quotes to make sure you’re armed with good info.
Stick With the Homeowners Insurance Company That Offers the Best Deal
Consider multiple policies with the home insurance company that’s offering you the best deal on discount homeowners insurance. It’s not uncommon for a home insurance company to offer a multiple policy discount, so if you purchase your homeowners and auto policies from the same insurer, it may be worth a small discount.
Pick Your Form for Insurance
A typical home insurance company offers different types of homeowner package forms to owners of single-family, owner-occupied homes. These insurance policy forms insure your home and belongings against specifically named perils. The more perils your policy covers, the more you will pay for the policy.
Consider Actual Cash Value Coverage
Actual cash value coverage reimburses you for the cost of the property minus your deductible and the property’s depreciation. Replacement cost coverage reimburses the full value of the property. If your major objective is to have the lowest insurance premiums possible, consider actual cash value, which is cheaper. But be aware of the risks involved with that choice.
Other Ways to Save Money with your Homeowners Insurance Company
A higher deductible lowers the premium cost of your policy. Many home insurance companies provide a low deductible –typically $250. Contact your homeowners insurance company to see if they offer higher deductibles, such as $500 or $1,000 with your home owner insurance coverage.
Get Discounts from Your Home Insurance Company
A typical home insurance company usually offers premium discounts when you have deadbolt locks, smoke alarms, fire extinguishers, sprinkler systems, or security systems in your residence.
In short, it pays to evaluate more than one homeowners insurance company and research your options to find discount homeowners insurance that provides the best coverage, at the most economical premium.
See how much you could save today on your home insurance. Get your free home insurance quotes today!
