How to Shop for Homeowners Insurance

how to shop for homeowners insurance

When first buying a home, you’re probably asking yourself how you go about shopping for homeowner’s insurance. You’re not sure where to get it, how much to get or even when you should get it. Buying a home is a huge investment — and you’ll want to ensure you’re properly protect it. It’s not that difficult to get homeowner’s insurance, but this guide will help you during the process of obtaining your policy.

Contact Your Independent Auto Insurance Agency

Begin by contacting your independent auto insurer and asking for a price quote. They’ll likely give you a discount if you take out both policies with them. If you’re going through an independent insurance agent, ask if they work with a single company or multiple companies. Independent agents can give you several quotes from different insurance companies. You can also get multiple homeowners insurance quotes online.

Gather up Information About your Home

The information you should get includes the square footage, the materials used for exterior walls and the roof, the number of bathrooms, the condition and age of the home, and the condition of patios, decks, garages, and more. All of these things will help you decide on how much coverage you’ll need and will have to pay for.

Consider Coverage

Once you determine the coverage you need, talk with your insurance agent and build your policy to ensure your coverage will cover the replacement of your home in the event it’s destroyed.

Choose Your Deductible

Another factor is your deductible. If you’re looking to pay lower premiums, you may want to go with a higher deductible. A higher deductible will not only lower your monthly payments but also deter you from filing a small claim could cause your insurer to raise your premium or drop you altogether. Once you choose your deductible, ensure you have enough money saved in an account for emergency purposes, just in case you do end up having to file a claim. You’ll have to pay the deductible first before your insurance will kick in.

Determine the Cost to Rebuild your Home

When you buy dwelling coverage, which handles damage to the structure of your home, be sure you get coverage that’s equal to or greater than what it would cost to rebuild your home. Don’t go by the purchase price as this will be different from what it would take to rebuild your home after a disaster.

Last, find ways to cut your premiums. There are plenty of discounts available to you to do this. For instance, many insurance companies will offer discounts for adding extra security to your house, bundling policies, or simply paying your monthly premium on time. Once everything is in place and you’re happy with the price, it’s time for you and your independent insurance agent to put your policy in effect.

Shopping for homeowners insurance? Let us here at BOLT Insurance Agency provide you with multiple homeowners insurance quotes so that you can get the best coverage at the best price. Contact us at 1-800-216-4171.