Advice for finding the Cheapest Homeowners Insurance
Sometimes getting the cheapest homeowners insurance and getting the best value insurance is not the same thing. As well as looking for the cheapest premium, you should also consider the reputation of the insurer and the service levels they provide. Once you have obtained quotes from a few insurers and narrowed down the field to a few good options, do some research online and see what other people are saying about them. This can be a great way of finding out what you can expect in the event of a claim - which is when service really counts!
5 Steps to finding the best homeowners insurance
Finding the best insurance for you doesn't need to be difficult. Follow the 5 steps below and you'll be assured of getting not only great value insurance cover, but also have the peace of mind of knowing that you'll be in good hands if you need to claim.
Step 1 - Obtain Quotes.
Enter your zipcode below and obtain quotes from the selection of insurers provided. You ideally want 3 or more quotes to make sure you've got a good cross section of the market and have the best price options.
Step 2 - Compare and contrast.
Who is offering you the best price? Are there significant differences in the costs between different insurers? If so, why could tha be? It may be that some insurer offer additional benefits in their cover as standard, while others offer a more "bare bones" policy to keep the cost down. This isn't necessarily a bad thing, as there is no point paying for additional benefits that you don't need. If the cover seems to be about the same, look for information on their commitment to claims settlement and turn around times. If the more expensive insurers aren't guaranteeing you a faster claim processing time, then they may simply be trying to ,ilk you for extra money.
Step 3 - Check Rating.
This is the claims paying and financial stability rating of the insurer. It will tell you what % of claims they have paid and declined, and also give you an indication of their financial stability and ability to pay future claims. These ratings are provided publicly by every insurer and must be made available on request by law in most areas. Ratings are given by impartial bodies, so you can have confidence that they are honest and accurate. This is a good way of weeding out bad performers, even if they have a great price and great product, afterall it's no use to you if they frequently decline claims, or have insufficient reserves to meet claims in the future!
Step 4 - Get market feedback.
Online forums are a great place to get real feedback form real people, but inside the industry and the public on how different insurers perform. Simply take a look at what's been posted, ask questions or even post your own query as a guest. No need to sign up and you'll get great information to help put your mind at ease. Ask for feedback about the insurers you're thinking of going with and see what other peoples experiences have been. You can also Google the insurers name and "feedback" or "complaints" to see what others have posted about that insuer.
Step 5 - Buy the policy!
Once you've done some research and found the best option for you, pull the trigger and take out the cover! All that effort is worth nothing if you don't take the final step and get the cover in place so trust in yourself and accept the quote.
So, there you have it. Five simple steps to make sure you're getting great cover at the best price. Cheap doesn't have to mean bad quality though, sometimes the cheapest homeowners insurance is also the best value!