How to Buy Homeowner's Insurance

Tips on buying homeowner's insurance

• You'll begin by investigating the different types of homeowner’s insurance available. HO-1 is a basic plan that covers fire, flood, theft and major breakage, among other damages. It’s the plan that most homeowners go with. However, talk to insurance representatives about other plans that may be better suited to your particular needs.
• Compare insurance providers and figure out what the premium for your insurance might be. The premium will be based on such factors as the area where you live, what your house is worth, and how long you’ve lived in your house. You can do a quick and easy search online for sites that do insurance quotes by simply typing in ‘homeowner insurance quotes’ into a search engine.
• Premiums can be high, so think about doing things to lower the cost of your premium. Installing a security system in your home is one way to go. If you have any other kind of insurance (auto, life), you may be able to get a bit of a break.
• Think about your deductible. A higher deductible will lower the cost of your premium, but in the end, it means you pay more if something bad happens to your house. Reverse this scenario when thinking about a lower deductible.
• Before purchasing a plan, carefully inspect EVERYTHING that is covered in the plan (jewelry, electronics, etc). Definitely be sure you are covered for liability—liability coverage assists you should someone in any way hurt himself or herself while on your property.
• Also think about buying a rider to tack on to your insurance. A rider will help pay for your living expenses while you wait for your home to be repaired should the worst happen.

Caution

Be absolutely sure you carefully review the "Conditions and Coverage" section of your homeowners insurance policy. For instance, having a swimming pool or a certain type of dog (think pit bulls) can limit your coverage severely.

Where to buy homeowner's insurance

Here are the official Web sites of three of the most trusted names in homeowner's insurance—

State Farm is one of the most popular businesses in the United States for obtaining homeowners and automobile insurance. You can find help right online with getting started, talking to an agent and calculating a plan.

Allstate offers quote tools and online policy management assistance for those seeking homeowner's insurance. You can also find an Allstate agent by entering your zip code in the allotted field.

You can obtain a homeowner's insurance quote in no time at all at Liberty Mutual. Should you decide to purchase with Liberty, you can handle, review and make payments on your policy online!