Questions/Tips Insurance

Homeowners Insurance: Finding the Best Quotes

(5/10/2012) Wondering how to find the best home insurance for you? With a little background information, and a few insider tips, you can find the best coverage for the best price.

What would it actually cost to rebuild your home? It's a question that may be unpleasant to think about and tough to answer, but it's necessary to find the most appropriate insurance for you. Seek out insurance for the total replacement cost of your home if it were to be totally destroyed. To do this, you have a few resources. A local builder will inspect your home and provide an estimate, usually for a flat fee. Also, an insurance or real estate agent can help estimate total cost by looking at construction quality, special features, and details like antique wood, glasswork, moldings, etc.

A variety of different home insurance policies exist, and knowing your options goes a long way towards finding the best quotes. The most typical policy for single-family homeowners is the HO-3 policy, which covers your home and its contents in most cases of damage, and covers liability if anyone gets hurt on your property. HO-5 is slightly more comprehensive in terms of coverage, and HO-6 covers condos. For all types, additional “riders” can be purchased which provide coverage for specific valuables, along with damage from flood, earthquakes and other natural disasters.

Along with type of insurance, you will also select amount of insurance. You can ultimately get coverage for up to and including 100% of your home's replacement cost, which is the recommendation made by most experts. For your home's contents, you can usually select coverage for up to and between 50-75% of the home's value.

In addition, you will need to choose a deductible amount, the price you will need to pay in case of damage before insurance kicks in. Picking a deductible can be challenging - a higher deductible means lower monthly premiums. But it also means a substantial out-of-pocket expense at a time when expenses and emotions are already high. The right balance is up to you, your financials, and your risk tolerance.

Seeking out insurance quotes has never been easier thanks to the web. Look at the websites for key insurance companies to get free quotes, or visit free databases like InsWeb, which offers quotes from up to 8 insurers. Also, check out your state's website. Most state insurance departments help you shop for insurance quotes with online shopping guides.

Once you've narrowed down a few companies providing quotes, how do you choose? Research how a company will handle your claims by looking at Consumer Reports rankings. Look at financial strength of the company - if it has received an A rating or higher from Standard & Poor's or an AA ranking or better from Moody's Investor Service, you can feel confident in their financial strength.

With this background knowledge, and with a little persistence, you can narrow the field of home insurance quotes to find the best solution for you.


Refinance at Today's Low Rates!


Fannie Mae & Jumbo Mortgage Rates

Just One Click! = Current Rate Chart

Pennsylvania Mortgage Rates Current Mortgage Rates - Hawaii Current Mortgage Rates - Alaska West Virginia Mortgage Rates Virginia Mortgage Rates District of Columbia Mortgage Rates Maryland Mortgage Rates Delaware Mortgage Rates New Jersey Mortgage Rates Connecticut Mortgage Rates Rhode Island Mortgage Rates Massachusetts Mortgage Rates New Hampshire Mortgage Rates Vermont Mortgage Rates New Hampshire Mortgage Rates Maine Current Mortgage Rates Vermont Mortgage Rates Current Mortgage Rates - New York Current Mortgage Rates - Michigan Current Interest Rates - Wisconsin Current Mortgage Rates - MINNESOTA Ohio Mortgage Rates Current Mortgage Rates - Kentucky Current Mortgage Rates - Indiana Illinois - Current Mortgage Rates Current Mortgage Rates - Iowa Missouri Mortgage Rates Current Mortgage Rates - North Carolina South Carolina Mortgage Rates Current Mortgage Rates - Florida Current Mortgage Rates - Georgia Current Mortgage Rates - Tennessee Current Mortgage Rates - Alabama Current Mortgage Rates - Mississippi Current Mortgage Rates - Louisiana Current Mortgage Rates - Arkansas Current Mortgage Rates - Oklahoma Current Mortgage Rates - TEXAS Current Mortgage Rates - New Mexico Current Mortgage Rates - Arizona Current Mortgage Rates - Kansas Current Mortgage Rates - Nebraska Current Mortgage Rates - Colorado Current Mortgage Rates - Wyoming South Dakota Mortgage Rates Current Mortgage Rates - North Dakota Current Rates - Montana Idaho Current Rates Washington Mortgage Rates Current Mortgage Rates - Oregon Current Mortgage Rates - Utah Current Mortgage Rates - Nevada Current Mortgage Rates - California

Start by selecting your state

Other Related Articles:

Home Insurance Costs on the Rise, Coverage Options Decrease

What Home Owners Insurance Do You Need? Tips for the Best Coverage

Home Insurance Quotes: Types of Home Owners Insurance

Get a CLUE about your home and auto insurance claims

Don't add on 'add-on' insurance

Homeowners insurance goes to school

Costly trends impacting homeowners insurance

Insurance - Homeowners Insurance Advice

Always time for a home inspection


Get the Updated and Improved Mortgage Rates App from

iPad for Mortgage Rates

Auto Insurance

General Insurance Articles

Homeowners Insurance

Medical Insurance

Life Insurance