Saturday, November 2, 2013

Compare Home Insurance When You Need it Fast

When You Need Home Insurance NowAlmost all mortgage lenders will require homeowners insurance, and even if you are in the favorable position of having a paid off loan, you will still want to protect your investment. Many new home purchases wait until the last minute to select a homeowners insurance policy, and that puts them in a vulnerable position because they need to make a fast choice about a policy that will protect their most important investment.Other groups of people who may need quick access to home insurance are residents of states where major insurers have chosen to pull out. Recent storms have caused rising claims, and the insurers have decided the market is not long profitable for them. However, they often leave their policy holders with very little time to select a new policy.Traditional homeowners, who actually live in the home they cover, are not the only ones who need some sort of home protection. Renters, Landlords, and Condo Owners also need specific types of home protection.Find an Affordable PolicyOf course, your insurance coverage will vary by the value of your home, where you live, and your own claims history. Another factor that will impact your home insurance premium rate is your credit history. Credit history has become a larger factor in many types of insurance risk assessment in the last few years.Be certain to do some shopping if you are looking for a new company because you are buying a new home, have lost your old policy, or are unhappy with your current insurer. Your auto insurance company may offer an auto and home insurance discount. Some of the internet car insurance companies do not offer home insurance, so you may consider switching your car insurance company to a company that does!Note that multiple insurance policy discounts do not always give you the best rates for all insurers in your area. So while I might advise a homeowner to start shopping at their own auto insurance company, I would not advise them to stop comparing insurance there.If the premium for the type of home insurance you require is still high, consider raising the deductible. Make certain that you can afford the deductible amount, but know that you may save the extra deductible over the course of a few months because your premiums will be cheaper. Your mortgage company may mandate a maximum deductible amount. $1000 is typical.Compare Home Insurance QuicklyI am a big fan of online insurance quoting. You can enter your information into a fast, online form, and that usually only takes about three minutes. The system will return quotes from the local insurance companies that want to compete for your business. You will also get contact information for qualified, local insurance agents. I would start comparing information with an online quoting service, but would always advise consumers to end their search by consulting with a local agent. In my mind, that is the best combination of quick comparisons and personal service.When you look for an online quoting system, find a major one that uses a secure server and has a stated privacy policy. That way you know that you won't have your information misused. Third party quality assurance services are a great sign too! Many of the best online insurance quoting systems participate in the Better Business Bureau Online Service.

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