Which company will give me the best home insurance quote? How will I know what to look for? What am I even reading?!
You might be plagued with these and a lot more questions while you’re hunting for the best home insurance quote, and we know it’s not easy. If you want to know how to compare home insurance quotes to make sure you’re getting the best deal, then keep reading.
1. Compare Home Insurance Quotes: The Evaluation
The first and biggest thing that you will see when you compare home insurance quotes is your home evaluation cost.
The home evaluation is what the insurance company estimate will cost to rebuild your home in the event of a loss from the ground up. It’s good to remember that this evaluation doesn’t insure the land value or where you’re living, but only uses material and labor costs.
Some people get very stuck on the evaluation cost as they may see it as too little or even too much. However, what you should be really looking for is whether or not this evaluation comes with a guaranteed replacement cost which is essentially a promise by the company to rebuild your home and cover the cost if it’s more than their estimated evaluation.
2. The Added Extras
The next important thing to look for when you compare home insurance quotes is what extras come with the coverage.
Things like sewer backup, flood damage, and secondary home coverage, might not be included in your home insurance quote and could spell the difference between being fully protected, and only partially protected.
There are some companies out there that either don’t offer any of those listed coverages or only provide a small minimum. It’s a good idea to make sure you’re comparing apples to apples when assessing your quotes. Professional resources, like this home insurance company, will be happy to walk through the coverages with you to make sure you have a good understanding.
3. Your Liability
Liability limits matter.
Your liability covers you in the event someone wants to sue you for something that is your unintentional fault. Obviously, you want to make sure you have enough.
Take a look at the limits the company is providing you when you compare home insurance quotes. It can be set at one, two, three million on more, and that can also be a big difference in why one company may be cheaper or more expensive than the other. Once again, this is a lesson in making sure you are making an equal and fair comparison in pricing and coverage to make sure you’re not getting a bad deal.
Using a Critical Quote Eye
When it comes time to compare home insurance quotes, make sure that the coverages are as close to the same as possible to give you a better sense of who has the most competitive price. In instances where this isn’t possible, one company may outperform another based on better coverage.
As long as you keep a close eye on the three sections we mentioned, doing your comparisons should be a breeze!
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