Buying a home is a huge investment, so buying homeowners insurance to protect this investment makes a lot of sense. If you don’t have insurance, and your house gets destroyed in a fire, you’ll be left with nothing but regrets.
While it’s possible to get great homeowners insurance on your own, many people enjoy the peace of mind that comes with hiring an experienced insurance broker. Getting homeowners insurance is not that complicated, especially after you have contacted an insurance broker for their expertise.
Ideally, you want the insurance coverage that meets your needs without having to spend a fortune on your premiums. As such, you will need to take some time to shop around on how to get homeowners insurance at the best rates. If you need some help to get started, here are eight different ways on how to get homeowners insurance:
1. Figure out which type of homeowners insurance coverage you need
Before you start getting quotes for your homeowners insurance, you have to figure out exactly which type of homeowners insurance coverage you need. Home insurance companies offer different levels of coverage.
Some policies are designed specifically for condos or mobile homes, and others have been created to protect older homes. General policies protect homes against different perils, but it’s possible to omit some perils if you are fairly certain that they don’t concern you.
2. Use an online comparison tool to compare insurance prices
Now that you know which type of coverage you need, you can ask a few different insurance companies for quotes. This process will be easier if you use an online price comparison tool.
This type of tool will ask you some information about yourself, your home, and the coverage you want, and it will show you the prices of the policies offered by different companies so you can easily compare them.
3. Learn more about the insurance company
Comparing different offers will help you make your choice. Before you contact the insurance company that offers the best price, do some research on how to get homeowners insurance from the best provider.
Don’t hesitate to read some customer reviews, and learn what you can about the history of the company. If they seem to often have financial troubles, they might not be able to give you the settlement you deserve if ever you have to file a claim.
4. Gather some information about your home
The insurance company will need some basic information about your home, so you should gather this information before contacting them. You will need to know the value of your home, as well as the value of its content.
You will also need to know its age, the age of the plumbing and electrical systems, its square footage, and the kind of roof it has. If any claim was filed by the previous owner, you also need to provide this information.
5. Contact the insurance company
When you are ready, contact the insurance company online, or by phone. Tell them the type of coverage you want, and provide them with the information they will ask for.
If you have any question about your policy, don’t hesitate to ask for clarifications. It’s important that you understand what you will get, and what you will be paying for.
6. Check if you qualify for some discounts
Many insurance companies can offer discounts to their clients, so don’t hesitate to ask if you can get any discount on your premiums.
For example, if you have good credit, live in a safe neighbourhood, have a home security system, or install a carbon monoxide detector and a sprinkler system, you could qualify for some interesting discounts. Combining your car and homeowners insurance is another way to save some money.
7. Make your decision and sign your insurance contract
Now that you know everything there is to know about the policy offered by that insurance company and the premiums you’ll have to pay, it’s time to make your decision and to sign your insurance contract.
If ever you feel like this policy doesn’t really meet your needs after all, or if you think you could get a better price somewhere else, you are under no obligation to sign the contract. Simply look around for a better offer.
8. Use the services of an insurance broker
If you feel like you need some help to determine which type of coverage you should choose, and which company you should do business with, you should consider getting in touch with an insurance broker.
An insurance broker is a professional that works for you, so you can benefit from the coverage you need, for an affordable price. They can answer any question you might have about home insurance, and they can help you assess your needs, compare different quotes, and make the best choice.
When the time comes to renew your policy, they can review it with you to see if you should make any change, and if ever you need to make a claim, your broker will be by your side to ensure you get a fair settlement.