There are ways to save big on your insurance premiums without compromising on the right coverage for you. Homeowners insurance quotes can be obtained free of cost from a few insurers and is almost always free if you get quotes online.
The benefits of shopping around for your home insurance cannot be overstated. Since insurance is a highly variable business, you’ll find that an insurance provider’s rate does not remain as the lowest or the highest over a period of time.
This is why it’s an excellent idea to get home insurance quotes from a number of insurance companies, every year.
That’s right, getting quotes each year and comparing them to what you’re paying now, will show you how much savings you could make in the coming year.
The best way to get a large number of quotes is of course to use one or more comparison websites (For example insurancehotline.com is a well known comparison website in Canada). These websites collect your insurance details and provide side by side comparison of quotes currently offered by insurance companies, for the same coverage you’re looking out for.
You’ll be surprised by the rate variations, however, look into specifics of the quote, this will help immensely in the long run. Here are a few specifics to look for:
Insurance Company or Agent’s rating
Check a few consumer magazines, rating agencies and at least two regulatory bodies for their ratings and financial standing the Insurers you’re considering. If an Insurer offer you a very low/attractive rate, you must ensure that your money is going into:
• Trustworthy hands i.e. financially stable
• Experienced hands i.e. with a great track record of assisting clients with their claims and
• Expert hands i.e. able to recommend bespoke policies for your situation
Once you’ve found a list of 4-5 Insurers, contact them via., phone or email and make sure you ask about the following:
• Credits and discounts offered: Many Insurers offer attractive discounts for safety features, group memberships etc., but do not reveal them to clients. So if your insurer does not come forward with this information, make sure you ask. In fact, try and include as much of this information as possible when you initially start out looking for the best quotes. This will save you not only money but oodles of time as well.
• Test Customer Service: by asking lots of questions even if you know the answers to some. An Insurer that does not take the time to patiently answer all your queries, will probably not be very helpful at the time of making a claim.
Best Coverage for you
The amount of coverage you choose for your home insurance should be based on the cost of rebuilding your home and the value of some precious possessions you may have. Make sure you don’t include the value of your land. If you do, you’ll end up paying much larger premiums than you need to.
Do more than just one or two comparative searches for the best quotes, based on different values, with and without third party coverage (Eg: for an uninsured handyman who may injure himself on your property, etc) and also with variables such as a higher deductible.
Check it out, you’re sure to find the best quotes for the a tailored coverage plan just for you.