Getting Home Insurance Online

If you are in a bind for time or are new in town, it is easy to enter “home insurance policy” in the search engine on your computer. A plethora of insurance companies will come up for your consideration.

You should be aware that the listings with “ad” next to them are paid listings. The rest of them show up by relevancy to the keywords you enter. “Home insurance policy” is a keyword.

Can you purchase a home insurance policy and get quotations on line? Yes, it is possible, but rather difficult to do because of the variables included in home insurance policies.

Most insurance companies prefer to have some contact with the purchaser of a home insurance policy to verify that you are an individual with an insurable interest in the dwelling and contents insured. The insurance companies with take the basic information needed for a quotation then refer you to an agent to complete the quotation.

Use the FREE search tool above to start comparing home insurance quotes instantly.

Information You Will Need to Obtain a Home Insurance Quotation

Prepare to give the following information:

• Your name, occupation, and education
• Location of the dwelling
• Construction – frame, brick, concrete — Roof – asphalt shingle, shake, steel
• Amount of coverage desired on the dwelling
• Perils to be covered
• Deductibles applying as well as replacement cost or actual cash value
• Limit for Personal Liability and Medical Payments Coverage
• Items of personal property to be scheduled and insured under a floater
• E-mail address and telephone number

Useful Tips

When purchasing insurance, you should be aware that there are different types of insurance agents.

It is a good idea to shop around for insurance to see the various options and prices offered. Agents vary in their relationship to the insurance they sell:

• Direct marketing insurance agents who sell through the Internet, by mail, or on the phone. Once the contact is made, the agent will advise the home owner in person or on the phone.
• Exclusive agents who represent one insurance company and sell that company’s products.
• Independent agents, representing several companies, are able to give you several quotes from different companies.

When getting quotations from insurance companies, be certain to check the company’s license with your state insurance website. States oversee insurance licensing as well the rates they charge.

States also collect information about insurance companies including their financial stability and complaints about insurance companies and agents.

You can access this information by contacting:

• State insurance website for your state
• National Association of Insurance Commissioners (NAIC) website
• A. M. Best Rating Service
• Standard and Poor’s Ratings

Personal Information Needed

Insurance companies ask for personal information such as occupation and educational level because statistically, individuals engaged in some occupations tend to have more home losses than others do.

Furthermore, the higher your education level, the fewer insurance claims you tend to have.

Home insurance policies are subject to so many variables that the insurance agent, whoever he or she may be, will need to ask questions so he or she will need your telephone number and e-mail address.

Quotations are often delivered by e-mail to make the terms more understandable.

Location and construction is important because the location of the house indicates the fire protection rating of the area, including the adequacy of available water and hydrants.

A frame home is more likely to have fire problem than a brick or concrete home. The roofing material and its flammability can make a difference in the home’s susceptibility to fire.

Amount of Coverage Needed

A dwelling should be insured for its replacement cost value to ensure that any loss under the home insurance policy is covered entirely.

Replacement cost coverage estimates are available from your local agent or can be acquired for free through on-line calculators, such as Best-Cost.net.

Perils Covered

Perils are the causes of loss for insurance coverage. Under the Special Form homeowners form, these coverages are:

• Fire, windstorm, hail, lightning, explosion, vehicle damage, and civil unrest
• Theft and vandalism
• Trees and other falling objects
• Weight of ice, snow, and sleet
• Sudden and accidental overflow, freezing, and rupturing of plumbing, heating, and air-conditioning systems

Please note that flood insurance and earthquake insurance are not a part of the home insurance contract. If you wish to obtain this coverage, discuss it with your agent.

Deductibles

Home insurance policies require deductibles. These deductibles begin at about $500 per occurrence and may be higher. Often a higher deductible can reduce your premiums.

Deductibles are removed from the amount of a loss before the check is given to the property owner.

Personal Liability and Medical Payments Coverage

Personal liability limits begin at $100,000 and may be increased to as much as $500,000. Financial advisers recommend that you purchase personal liability enough to protect your personal assets from lawsuits and judgments.

Medical payments coverage provides from $500 to $5,000 and pay for such things as when individuals slip and fall on your sidewalk or if your pet bites another individual.

Be sure to advise your insurance agent of the breed of dog you own, if you have a trampoline, or it you have a pool. These can increase your liability exposure and can possibly affect your premiums.

Additional Property Coverage

Under the content coverage section of your home insurance policy, some types of property are limited specifically and you may wish to specifically schedule this coverage. Specific schedules require an appraisal and formal listing within the policy.

These types of property are:

• Money
• Negotiable instruments
• Firearms
• Jewelry

Evaluate Quotations Carefully and Ask Questions

Look at the quotations you acquire to make certain they are discussing the same coverage, deductibles, and amounts. Weigh the benefits of one insurance company against another. Remember sometimes that a slightly lower price, but a less desirable company can make a difference.

Read your policy, once it is delivered, carefully to make sure it covers what you thought.

Ask questions about coverage. Some you might wish to discuss with your agent:

• Is mold covered?
• What types of water damage are covered?
• Does my credit score make a difference to my insurance premiums?
• If I submit a claim, will my premium go up?

Finally, read your policy and become familiar with the terms of insurance. It can make a difference to you. Be sure to compare quotes using the FREE tool below!