getting the best rate
When it comes to something as important as your home, you definitely don't want to skimp on coverage — but that doesn't mean you should pay more than you have to. The answers in this section will help you figure out how to maximize your coverage and get the best rate.
What affects my home insurance rate?
Many factors determine your home insurance rate, including:
- Age and address of your home
- Home features: square footage, roofing, siding, etc.
- Type of construction: frame houses usually cost more to insure than brick
- Location of home: proximity to a fire station, fire hydrant, etc.
- Amenities: alarm, pool, hot tub, fence, etc.
- Any additional coverage for the contents of your home
- The amount of liability coverage you purchase
Additionally, paying a higher deductible, buying your home and auto insurance from the same insurance company, and maintaining a good credit score can all affect your home owners insurance rate.
How do I get home insurance discounts?
Home owners insurance discounts vary from company to company, but you can typically increase your discount potential by following these tips:
- Install security devices, such as deadbolts, burglar alarms, and smoke detectors (if you install a sophisticated home-security system, your discounts could be even more significant).
- Ask about senior discounts if you're 55 or older.
- Stay with the same insurer for several years.
- Opt to make your payments electronically.
Get your home owners insurance quote today to see which discounts you might qualify for.
Can I compare home insurance companies?
Yes. In fact, it's recommended. When choosing between home owners insurance companies, it's important that you do your homework and shop around. Check consumer guides, insurance agents, and online insurance quote services to determine which companies have the best prices.
But don't allow price to be your only consideration. The insurance company you choose should be able to offer a fair price, quality service, and strong financial backing. You can check the financial stability of a home owners insurance company with rating companies like A.M. Best and Standard & Poor's.
How can I get a lower premium on my home insurance quote?
Many different factors affect home insurance quotes, and there are several things you can do to lower your premium. First of all, it's a good idea to shop around and compare rates with several home insurance companies.
You can also lower your premium by making your home more disaster-proof. By adding storm shutters; reinforcing your roof or buying stronger roofing materials; or installing a smoke detector, burglar alarm, or dead-bolt locks, you could potentially lower your premium as much as 5 percent.
How does credit scoring affect home insurance quotes?
Many homeowner insurance companies use credit-based insurance scores to establish eligibility and to help determine insurance rates. If you have a high credit-based insurance score, you can generally expect to pay less for home owners insurance than someone with a low credit score.
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This page is intended to provide you with general information about home owners insurance, and to help you understand the various kinds of coverage. It does not describe or refer to any specific policy or coverage. For information about your particular coverages, including limitations and exclusions, we encourage you to read your policy contract and consult your insurance representative with any questions.