How to Compare House Insurance Rates
- 1). Decide upon one, or several, independent agents from whom you will solicit quotes. The best way to find a quality insurance professional is to ask friends and family members for recommendations. There is nothing wrong with calling two or three agencies for quotes, as most independent agents each represent a slightly different mix of insurance companies.
- 2). Schedule a meeting or callback. After getting to know you and your home, the agent will take the information she has garnered and begin to run quotes with several companies. This is the first step in comparing agents. If your agent does not call you or meet you when planned, mark her off the list. Some agents will be able to run quotes over the phone. If this is the case, be sure that you are getting quotes from multiple companies and not just one carrier.
- 3). Compare the coverage. Remember that the lowest price is not always best. There are certain low-cost policies on the market that do not cover basic types of losses such as theft. Ask a lot of questions and discuss all the options with your agent. Make sure that any policy you are quoted includes replacement cost coverage for your home and contents, not merely coverage at "actual cash value."
- 4). Decide what additional options you may need. After you have settled on a carrier that can provide the best value for your basic coverage, decide whether you will need additional coverage. Options might include water and sewer backup coverage (which is excluded on most policies unless you add it as an endorsement); scheduled coverage for jewelry; or extra liability insurance in the form of an umbrella policy.
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