Are you looking to get online quotes for homeowners insurance? The first place to look is the website of the home insurance company. You should be able to access the “Quotation” page to compare your options for the policy.
But it is not as easy as it seems. Certain factors must be considered to help you get online quotes for homeowners insurance. In this article, we cover the most important things you need to look for before asking for a quote.
What is Homeowners Insurance Quote?
There are two concepts here – homeowners’ insurance and quote. The former refers to the type of insurance that covers a home and its content. The quotation has to do with an estimated amount to get the insurance.
A homeowners insurance quote is an estimated amount of the payment to be made for the homeowner’s insurance. The estimate covers:
- Premiums payable
- The price or cost of getting the policy from the provider.
- Discounts, if any.
- The types of coverage offered by the insurer.
Other factors, such as your trustworthiness can also be considered to come up with a quote.
Getting Online Quotes for Homeowners Insurance: Information to Provide
You must provide specific information to help you get a homeowners’ insurance quote. The categories of information include:
1. Personal Information
What does the insurer need to know about the insured? Here are some of the information you are to provide about yourself – and the people living with you:
- Full name
- Date of Birth (D.O.B.)
- Contact information
Things can get more personal when the insurer requests information about your family. This is common if you are married. Interestingly, you can get a lower premium on the home because being married is sometimes regarded as being “financially responsible.” Remember to provide the name of your spouse if you are married.
Your credit score can sometimes be correlated to your qualification for homeowners insurance. The rule of thumb is to maintain a higher credit score.
2. Property Information
Basic information about your property will be required. The address and ZIP Code of the property are commonly asked, but that is the least of your worries.
Some home insurance companies may ask “technical” questions, such as:
- The type of material used to build the house.
- Date of completion of the property construction.
- What type of home is it?
- How old is the roof?
- How many bathrooms and bedrooms are in your home?
Size of the Property
What is the square footage of your home? Are there special structures, such as a garage? The higher the size and more structures in it, the more premium you are likely to pay.
The security systems within and around your home may also have a positive impact on the premium. Insurers typically reduce the premium on homes with feasible security systems, such as proximity to a fire hydrant.
Have you made any important upgrades to your property? This could be in the form of renovations or installing new features to improve the structure of the property.
3. Coverage Needs
What needs do you have for the homeowners’ insurance? That should help you get online quotes for homeowners insurance.
Here are some of the factors the insurer considers before giving you a quote for homeowners insurance\:
The Type of Homeowners Insurance
What type of homeowners insurance are you looking to get a quote for? There are several of them, but the HO-5 and HO-3 policies are the most common.
Of course, each of the insurance coverages has specific requirements and different premiums. It is best to get information on each of those to be sure of the one to settle for.
How many items are to be covered by the home insurance policy? It is common for the policy to cover your property and some items. Of course, the insurer reserves the right to specify the exact items to be covered and what the coverage is worth.
Note: More coverage options can lead to paying a higher premium.
Details of Past Homeowners’ Policy
The new insurer will likely need some information about the past coverage you had. This includes information about the previous insurer, the type of coverage you had then, and the claims made.
This is another important piece of information that helps the insurer to access your risk. Here, the focus is mostly on the value of your personal property. Your electronics, furniture, and other items coverable will be valued.
Add-Ons and Additional Property Inclusion
The insurer will also like to know more about the add-ons you want to integrate into your new homeowners’ insurance.
Add-ons mean the additional limits you want to add to your normal coverage.
The inclusion of additional property or structures like a garage or porch can also increase your premiums.
Step-by-Step on How to Get Online Quotes for Homeowners Insurance
Now that you have the information ready, prepare to get your quote. Here are the steps to getting your quotes on homeowners insurance:
1. Visit the Insurer’s Website
Make a list of the homeowners’ insurance policy providers. Check out their websites one after the other. Then, narrow down the list to the ones you would like to compare their quotes.
2. Navigate to the Quotation Page
Most homeowners’ insurance providers now have a dedicated page from which the prospective policyholders can ask for a quote.
Locate the page and proceed to provide the information requested on the page.
3. Cross-Check Your Inputs
Go through the information you entered to be sure they are accurate. Afterward, submit.
4. Receive Your Quote
Quotes on homeowners insurance are usually instant, meaning that you get the estimate almost immediately.
Conclusion: Get Your Homeowners’ Insurance Quote Online
Homeowners’ insurance companies have now simplified the quotation process. All you have to do is to navigate to the quotation page on the website and provide the information. Note that these quotes may not be a true reflection of what you will pay. They are best considered a speculated estimate.
Don’t forget to compare home insurance quotes by requesting a quotation from different insurers. At the end of the day, you will choose the insurer that offers affordable premiums and more coverage limits.