Why is home insurance important?
A home insurance policy is a type of property insurance coverage that provides financial protection to both the insured’s dwelling and assets in the home.
A policy can also provide liability coverage that pays some or all of the cost of accidents in the home and/or property. Thus, your family is protected, too – not just your home.
But your homeowners policy will bring even more than financial security – it’ll bring something priceless, and that’s peace of mind.
What Does Home Insurance Coverage Include?
Your needs dictate what homeowners package you’ll choose. The product you get will protect you against covered PERILS.
PERILS are events that may cause damage to your personal property.
If the perils included in your policy take place, you can file a claim, and your insurer will pay for the loss.
The most common perils include:
- Snow and ice
Different policies have different coverages.
See more about what’s covered by home insurance here.
Most common coverages include:
- Coverage A: Dwelling Coverage – the expenses needed to repair or replace a part of the physical structure of your home, should be based on the replacement cost coverage of your home, aka its current value.
- Coverage B: Separate Structures – the replacement cost coverage for those structures that are physically detached from your home.
- Coverage C: Personal Property damage – personal property insurance pays out for your personal belongings, such as clothes, furniture, and appliances
- Coverage D: Loss of Use –reimburses the additional living expenses that our customers are put to when their home is not fit for living for a certain period
- Coverage E: Personal Liability -homeowners insurance policies also entail personal liability users’ protection when they are facing legal responsibility for injuring someone or causing an accident
- Coverage F: Medical Payments – your policy can defray the costs of medical bills in the event that you are at fault for someone’s injuries
Get Homeowners Insurance Add-Ons
Your home insurance policy may not entail all the coverage that you need. That’s when add-on policies kick in.
You can get an additional policy for multiple purposes, depending on what you seek.
For example, for coverages for high-value items, you can get additional personal property coverage. Or – you can add extra dwelling portion coverage that exceeds the replacement cost of your home.
Basically, anything that isn’t included in the regular coverage.
For any questions and more information, contact an Insurance Geek agent.
Determining the Cost
Your home insurance premium is multilayered.
Several criteria are considered when determining the cost of homeowners insurance.
Here is information on them:
- Amount of coverage (dwelling coverage, limits, and more)
- Location (depending on the state and your ZIP code, the rate varies)
- The crime rate in the neighborhood (more frequent the crimes, the more chance the rate will be higher)
- Fire safeguards and alarm systems (these can lower the rate)
- Age of the house
- Materials used to build the house
- Condition of the house
- Prior claims (they are a signal to the insurers that your home is at greater risk)
- A credit score of the homeowner (better credit score results in a more affordable deal)
- Amount of the deductible (a higher deductible will typically equate to a lower premium cost)
- Discounts (if you combine policies – e.g., life and home – you will qualify for discounts)
What Discounts are Available?
If you decide to bundle up packages – for example, get homeowners and life insurance with the same company – you’ll save up.
So, don’t forget to notify your Insurance Geek if you would like to find more kinds of policies at once!
Find the Best Homeowners Insurance
Finding the best homeowners insurance rates can be tricky, mostly because you will never compare apples to apples quotes.
Every company will offer different coverages, packages, and come up with very different reconstruction costs.
An Insurance Geek can help you sift through all the headaches, confusion, and questions, though.
If you want us to find you the best instant quotes from multiple insurers, click the get a quote button above.
Our form takes about 2 minutes to complete and requires basic information; then, we will start shopping for you.
The transfer of your data is completely secure, and we guarantee your privacy.
We only ask you about this information to get you instant homeowners insurance quotes. After providing you with the quotes, we will not use your data to fill up your spam folder, make follow-up calls, or anything similar.
Comparing Home Insurance Quotes
After you give us the necessary info, you’ll get free instant home insurance quotes from our carriers.
You can compare the quotes in one session and adjust your details as needed.
If you need help determining what quote is the best for you, our agents can talk you through the options.
Therefore, you’ll get personalized advice and also check out the options from various companies.
We make sure every customer finds a homeowners insurance product specifically tailored to them and won’t settle for less.
Regardless of your ZIP code, we offer the solution.
What Do I Need to Compare Quotes?
The answer is: Only to provide us with some info!
To get a homeowners insurance quote, we require no more than the basic information – your address, ZIP code, state, date of birth, name, and products you are looking for.
We’ll also ask you to tell us the effective date you’d like your policy to start.
When it comes to your house, we’ll require the info about vital property factors for getting you the quote, such as:
- Square footage of your home
- Construction type
- Age, etc.
It takes about 60 seconds to complete.
You can tell us about your state and place of residence, as well as the services that you want to include.
Or – you can send us your existing policy, and we’ll connect you to the insurer that can fill in the missing gaps.
How Do I Compare Homeowners Insurance Quotes?
There are the main steps to compare homeowners quotes:
- Insurance Geek will find offers for you from over 20 leading homeowners insurance companies.
- You’ll get a price instantly.
- Check out multiple quotes to see which one caters to your needs.
- Tell us which homeowners insurance quote works best for you.
- Buy directly from us.
When you get an online home insurance quote, it’s vital to balance out the price with the services that suit your particular case.
Only then will you be 100% sure that your policy will protect you from all the possible scenarios.
Finding the Right Home Insurance Company for You
We work with over 20 carriers to make sure our customers get high-quality products.
Some examples of insurers we contact to get you instant quotes are:
We decide to partner up only with the best home insurance companies that score the highest in terms of:
- Customer satisfaction,
- Financial Strength Rating,
- Variety of products (most of our carriers offer life, home, and auto insurance),
- Potential for discounts,
- Price-to-value ratio.
And accordingly, we provide you with instant quotes directly from our carriers.
From there on, all that is left is for you to choose which option you like the best! You can buy directly from us.
P.S. If you would like to get other types of policies – such as life, auto, or identity theft coverage in the event you are the victim of identity fraud, these carriers have what you need. Just let us know what you seek!
Do I Have to Have Homeowners Insurance?
While most states do not require that you have homeowners insurance, if you have a mortgage on your property, the lender or mortgage company will likely make this type of coverage mandatory.
That is because a homeowners policy can protect the lender’s investment if the home becomes damaged. Generally, a lender will want you to carry enough home insurance to cover the loan amount.
Reasons to Buy Homeowners Insurance
There are numerous reasons why buying a policy is a smart decision.
One reason is that this coverage can protect you from losses that are caused by natural disasters and/or theft.
Besides, a home policy can also cover damage to people and property if an accident occurs in your home or even on your property.
The liability coverage element can pay for various items, including legal fees, medical expenses, and/or material damage.
What Homeowners Won’t Cover*
Although homeowners insurance can offer a wide range of financial protection concerning your dwelling and its contents, there are still some areas where you may not be covered, even if you have a policy.
These can include the following:
- Ground Movement – With very few exceptions, landslides, sinkholes, and earthquakes are not covered in basic insurance contracts. If you want to purchase coverage for these types of disasters, though, you may be able to obtain a separate insurance plan.
- Flood – While many homeowners policies will cover water damage due to burst pipes, flooding that is the result of heavy rain or a river overflowing will generally require you to purchase a flood insurance plan.
- Mold – Here, too, some homeowners plans may provide coverage for mold that is caused by a sudden leak in your home’s pipes. However, if your property sustains damage from mold that is caused by poor maintenance or longer-term leaks, then you may be out of luck.
- Normal Wear and Tear – If a sudden or accidental issue causes damage to your home, then it may be covered by homeowners insurance. But if your home incurs breakage or damage due to normal wear and tear, then your policy is not likely to cover such items.
There are other items, too, that are not typically covered perils under normal home policies, such as:
- Nuclear accidents
- Infestations (such as mice or termites)
- Government actions (such as the condemnation of the property)
- Wind damage in states that are more prone to hurricanes (like Florida and Texas)
Also, bear in mind that you may wish to purchase an auto insurance policy.
Car insurance isn’t included in your homeowners insurance, but the same perils that can harm your house and garage can harm your vehicle, too.
Plus, if you get an auto policy with the same insurer, you’ll qualify for homeowners insurance discounts!
Ready to compare house insurance costs and shop for instant home insurance quotes online? We are one of the best home insurance comparison sites online.
This is the perfect starting point. Our quote engine can help you compare homeowners insurance quotes from multiple companies at once.
We’ve got all the information you need – tell us your ZIP code and a few other details, and we’ll find you the best policy.
Each customer gets our undivided attention!