Compare Home Insurance Quotes
Comparing home insurance quotes is the best way to find a good deal on your insurance. We've created guides and tools to help you make the right decisions.
Home›Compare Home Insurance
Types Of Home Insurance
There are multiple homeowners insurance policies for you to choose from. You should carefully consider your options and pick a policy that suits your needs.
HO-1 policies offer the most basic level of home insurance coverage. It covers damage to the structure of your home and any attached structures like a garage. It is a named peril policy, meaning it only covers specific circumstances.
Ho-2 policies, or broad form policies, cover your home (at its replacement cost) and personal belongings (at its cash value). It covers homeowners on a covered perils basis.
HO-3 policies are the most common type of home insurance policies. HO-3 covers your home, personal belongings, liability and other living expenses. Unless an exception is listed on your policy, it will cover you for all disasters.
HO-4 policies, or renters insurance policies, are for renters who want to cover their personal belongings and other expenses. HO-4 policies cover your belongings, whether they are lost inside or outside of the house.
HO-5 home insurance policies offer some of the most comprehensive cover around. Policy holders will be covered for; liability, personal belongings and medical payments for other people.
HO-6, otherwise known as condo insurance, is for those who live in condominiums. HO-6 policies cover everything inside your condo, as well as personal belongings.
HO-7 policies cover mobile homes / manufactured homes, trailers and RVs. Coverage is provided for the structure of the home, liability, living expenses and personal belongings.
HO-8 policies are for older homes that are high risk. Typical homeowner insurance policies won't cover these homes, as they don't meet the insurer's required standards.
Average Cost Of Home Insurance In Your State
Alabama
$1,645/year
Alaska
$1,089/year
Arizona
$1,247/year
Arkansas
$2,153/year
What is homeowners insurance?
Homeowners insurance is a type of property insurance covers damage to your home, loss of personal belongings and other items in your home.
Some homeowners insurance policies will also cover living expenses, while others will pay for medicals bills for people injured in your home.
How does home insurance work?
The way that home insurance works is you sign up for a homeowners insurance policy and in exchange your insurer will cover your home from a variety of damage types. The level of coverage which you receive will depend on the policy which you pick.
If you suffer damage property, or if you have personal belongings taken from you, then you can file a claim with your home insurance provider. If the claim is accepted, you will receive a payout which you can use to recoup your losses.
What does home insurance cover?
Your home insurance coverage level will depend on the specific policy which you choose. Typically, a home insurance policy will insure damages to the structure of your home and your personal belongings in the event of a disaster.
On top of this, home insurance policies can cover liability damages. This means that if someone injures themselves in your home, then your insurance policy may be able to cover their medical bills.
What doesn’t it cover?
Homeowners insurance covers a wide range of disasters and and damages to your home. However, there are exceptional circumstances which a home insurance policy will not cover.
In these circumstances, if you want protection, you will need to take out an additional policy. For example, flood insurance and earthquake insurance are both necessary policies if you want to protect your home from damage caused by floods or earthquakes.
Home insurance providers also won’t cover any accidents which are caused by negligence. This means that if a claim could’ve been prevented from proper home maintenance, then your insurance company is unlikely to pay out the claim.
How to save money on home insurance
You can find many home insurance discounts by shopping around. When you’re shopping around for a homeowners insurance quote, be sure to check if you’re eligible for any discounts.
What Factors Affect Your Home Insurance Rate?
Your state and ZIP code can have a significant impact on the cost of your homeowners insurance premiums. If you live in an area with a history of high claims then you can expect to pay higher premiums.
Insurance companies review your credit score / credit history when providing you with a quote. High credit scores indicate a lower level of risk. This is because people with low credit scores are statistically less likely to keep up with premium payments.
If you have a history of filing claims on your homeowners insurance policy, then you can expect to pay more for your premiums. This is because people with a high claims history are more likely to make a future claim.
The age of your home also impacts your homeowners insurance rate. Older homes often need work to bring them up to code, which means that they cost more to insure, so premiums will be higher.
Dwelling coverage is the part of your policy which covers your home's structure. If you choose to have this coverage at replacement cost value then you are choosing to replace items at today's cost, which may lead to lower premiums. However, if you choose your coverage at actual cash value, then your items will be covered at their current value, which can mean lower premiums.
Your deductible is what you pay out of your own savings in a claim. If you elect to pay a higher deductible when buying a policy, then your premium will usually be lower. On the other hand, if you choose a lower deductible then you can expect to pay higher premiums.
FInd The Best Homeowners Insurance In Your State
How To Shop For Homeowners Insurance
There are several simple steps that you can follow, in order to get the best deal on your home insurance. Here is how to shop around for homeowners insurance quotes
Determine the level of home insurance coverage you need
When choosing a home insurance policy, there is more to consider than simply purchasing coverage for the structure of you home and the contents within it. Here are some additional coverage types that you may want to consider
- Dwelling Coverage
- Medical Bills
- Additional Living Expenses (ALE)
- Liability Coverage
- Personal Property Coverage
1
Collect your personal information
Insurance companies need to collect certain information about you and your home, in order to give you a quote. It helps if you can have this information prepared, so that the next step of your journey, comparing home insurance quotes, goes smoothly.
Here’s what you need to have prepared:
- Age of your roof
- Any other structures on your property
- Social security number
- Home market value
- Current policy declarations page
- Age of household appliances / systems (heating, electricity, plumbing)
- Personal information of anyone who lives in the house (your age, your job)
- Value of items which you need covered inside your home (jewelry, art and any other items)
- Mortgage company address
2
Compare home insurance quotes
Different home insurance companies will offer you different rates. That’s why it’s important to shop around and compare quotes from different providers.
Most insurance companies will give you a quote online. However, you need to make sure that you are comparing rates for equal coverage levels.
Here are some tips for comparing home insurance quotes.
- Price isn’t everything. Don’t just choose the cheapest home insurance policy, without considering other factors as well. You want to pick an insurer that has high financial strength. You should also check customer reviews online to see if the company has good customer service. On top of this, check the company’s claim history to make sure that they pay out claims.
- Compare similar levels of coverage. If you’re going to compare quotes from different insurance providers, then you should ensure that each quote covers similar items. Review add-ons and exclusions in each policy.
3
Check for discounts
Most home insurance companies offer discounts to their customers. The newer, or safer, your home the more discounts will be available to you.
There are a variety of different discount types, so make sure to ask which ones you can take advantage of. Check whether you can get a discount for bundling your home and auto insurance.
4
Finalize your policy
Once you’ve collected different rates from different home insurance providers, it’s time to decide on a policy.
Check your premium payment options with your chosen insurer.
5
Shop around frequently
Your insurance shopping journey shouldn’t stop once you’ve chosen a policy. You should regularly review quotes online, to make sure that you’re always getting the best deal.
You should gather quotes every year. You shouldn’t always stick with your current policy just because you’ve had it for a while.
6
FAQs
How Much Does Homeowners Insurance Cost?
The average cost of homeowners insurance in the US is around $1,500 a year. However, the cost of your policy will depend on a range of factors, such as; location, age, credit history and more.
Which Company Has The Best Home Insurance?
The best homeowners insurance policy for you will depend on what you need coverage for.
How Can I Get The Best Deal On Home Insurance?
The best way to get a good deal on your home insurance is to shop around and compare different quotes from different insurance providers.