YOU ASK:

How do I compare homeowners insurance policies?

WE ANSWER:

If you are looking for a homeowners insurance policy, there are two ways you can go about shopping for one: you can either pay an insurance agent who will do it for you, or you can search for homeowners insurance quotes yourself online.

Pros and Cons of Independent Agents

If you select the former option, make sure you contact an experienced independent agent who does not represent a particular insurance provider. The expertise of independent agents is one of the major assets of choosing to use the services of independent agents. The drawback lies in the high commission you might have to pay for these services.

An agent will help you go through the long process of shopping for homeowners insurance, get multiple personalized home insurance quotes and - most importantly - compare them! Homeowners insurance policy comparison is one of the most difficult steps of searching for the right coverage. So, if you feel you can't do it yourself, better contact an

When to E-Shop for Homeowners Insurance

If you are confident that you can go through the whole process yourself, you can simply use an online search engine to access different homeowners insurance quote websites. The good thing about such online tools is that they automatically provide multiple quotes which match your personal needs and circumstances. What is also very convenient is that you don't have to contact anyone, insurance company agents will be getting in touch with you soon after you have submitted the form. However, you will have to compare homeowners insurance policies yourself.

Tips for Comparing Homeowners Insurance Policies

  • Shop around - prices and coverages can vary largely from company to company.
  • Don't get misled by attractive prices - cheapest usually means inadequate, especially with homeowners insurance which is notorious for its many gaps. Make sure you get the best coverage possible for an affordable annual premium.
  • When comparing homeowners policies, don't forget to compare the endorsements, deductibles, exclusions and coverage amounts. Before doing that, determine the limits you want and stick to these limits - consistency will make the comparison process a lot easier.
  • Check if the policies on offer pay the replacement cost or the actual cash value of your possessions. The former is preferable.
  • Try and obtain a quote from your auto insurance provider - you can get a significant discount for having two policies with the same insurer.
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