Looking for low cost homeowners insurance? Want to get the best rate with a top-rated company? Here's how ...
How much homeowners insurance do I need?
You need enough homeowners insurance to cover the cost of rebuilding your home if it's destroyed. You can determine this cost by calling a builder or a real estate agent to get the local building cost per square foot. Multiply this figure by your home's square footage to get the amount of structural coverage you need.
In addition to structural coverage you need insurance to replace your personal possessions if they're damaged or stolen. Most homeowners policies give you coverage for your personal possessions equal to 50% to 70% of the amount of your structural coverage. If your possessions are worth more than that you can ask your insurance agent to add more coverage.
You also need enough insurance to pay for a bodily injury or a property damage lawsuit when you're found to be at fault. Most homeowners insurance policies provide a minimum of $100,000 worth of liability insurance. But due to the rise in personal injury lawsuits, purchasing at least $300,000 to $500,000 gives you better protection.
Lastly, you need insurance to pay for your living expenses if your home becomes uninhabitable due to a fire, storm, or other disasters. Most policies cover you for an amount equal to 20% of your structural coverage.
Where can I get the best rate with a reliable company?
Because homeowners insurance can vary by $1,000 or more from one company to the next, the first thing you need to do is to comparison shop.
There are insurance comparison websites that give you homeowners insurance quotes from a number of A-rated companies. Get at least three quotes then compare them to get the best one.
Some of these sites even offer a free online chat service and a toll-free telephone service so you can get answers to any insurance questions you may have. (See link below.)
To reduce the cost of your homeowners insurance you can raise your deductible. This is the amount you have to pay before your insurance company will pay a claim. The higher your deductible, the lower your insurance premiums.
Also, ask you agent for every discount you're entitled to. Most companies give discounts for having both your car and your homeowners insurance with them, for having safety and security features installed in your home, and for a number of other reasons.
Visit http://www.LowerRateQuotes.com/homeowners-insurance.html or click on the following link to
get low cost homeowners insurance quotes from top-rated insurance companies and see how much you can save. You can get more insurance tips in their Articles section.
The author, Brian Stevens, is a former insurance agent and financial consultant who has written a number of articles on low cost homeowners insurance.
