Shop Homeowners insurance online

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Your home may be your most valuable asset.  As such, I suspect you will want to make sure it is well protected.  One thing you should consider is homeowners insurance.  This article will lay out a simple way to shop homeowners insurance online.

What is homeowners insurance?

House Fire

Homeowners insurance is a form of property insurance that covers losses and damage to an individual’s residence, along with furnishings and other assets in the home.  Homeowners insurance also provides liability coverage against accidents in the home or on the property. 

Basic lines of coverage in a standard homeowners policy

  • Dwelling—Covers physical damage to the structure of your home and any attached structures.
  • Other structures—Covers physical damage to structures on your property that are not attached to the home itself.
  • Personal property—Covers damage or theft of personal belongings that you own.
  • Additional living expense (ALE)—If your home is severely damaged or destroyed by a covered loss, ALE can cover the cost of temporary lodging and relocation expenses while your home is being repaired or rebuilt.
  • Personal liability—Covers you and your assets from expensive lawsuits if you are ever held liable for someone else’s injury or property damage.
  • Medical payments—Covers guests’ medical expenses if they are injured on your property.
Options List
  • Compare ratings—Financial strength ratings, provided by AM Best and other companies, can give you a good
  • idea of the financial health of a particular company.  This is important because you will want that company to still be in business and able to pay claims should something happen to your home in the future.
  • Claim response—Look for a carrier with a proven track record of fair and timely settlements.  The burden of paying out of pocket to repair your home and waiting for reimbursement from your insurer could place your family in a difficult financial position.
  • Policyholder satisfaction—Check retention rates.  What percentage of policyholders renew their policies each year.
  • Compare Quotes—Obtain multiple quotes.  Comparing companies will yield the best overall results.
  • Compare policy limits—The annual premium is often what drives the choice to purchase a particular policy.  However, make sure you are comparing apples to apples.  In short, make sure you are comparing policy limits.

Here is a list of a few homeowner insurance carriers to aid in your search:

1                 Lemonade
2                 USAA
3                 Amica
4                 Allstate
5                 State Farm
6                 Nationwide
7                 American Family
8                 Erie Insurance
9                 Liberty Mutual
10               Chubb
11               Progressive
12               Farmers Insurance

Conclusion

Shopping for homeowners insurance can be intimidating.  However, if you follow the simple steps listed above, your shopping experience will be much less stressful.

I look forward to reading your comments and don’t forget to share this article with friends and family.

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