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Shopping for Home Insurance to get the best Price & Policy

By June 14, 2017March 11th, 2024No Comments

Whether you are a seasoned home owner or first time buyer needing help, homeowners insurance presents a unique challenge for most.  Let’s simplify some common questions that should be considered when choosing an insurance company and how to.

It starts with contacting a company and asking for a quote.  Consumer Reports recommends working with an Independent Agent to compare home insurance rates from multiple companies with one call or click.  Since we are an Independent Agent, we appreciate that recommendation.  But.

I think it’s good to check with other captive companies as well, the ones that sell only one company.  That gives you the widest range of rates and for comparison from top rated homeowners insurance companies.  To avoid information overload, I recommend checking with 1 Independent Agent and 2 captive quotes, which will give you a good picture of the marketplace and where you fall in pricing.

When asking for quotes, the Agent should be asking questions about coverage and helping you estimate “How much insurance is needed to rebuild your home” because most homeowners want all of their house back in a total loss, not half of it.  Make sure you focus on reconstruction values, instead of market value (how much the home is worth if you sell it/buy it), they are different. You can read more about that topic in another article by clicking here.

Know that your credit is the #1 factor in determining the cost you will pay.  The better your score, the better the price.  Each insurance company has their own score models and this play a part in who has the cheapest home insurance for you.  The other item that impacts price the most is discounts for bundling your home and auto insurance with the same company.

The non-profit Insurance Information Institute has a great article on how to lower homeowner insurance cost Click here to read.

Service is important too.  When you call or click for the quotes, do they answer promptly and do they get back to you in the time frame you expect.  If not, it will probably only get worse once they have your business and move on to chase a new client.

Any progressive business in today’s technology world will have reviews.  Read them, they will provide some insight to how they operate with their current clients.

At the end of the day, you are choosing a promise & a piece of paper.  Take your time and choose the Agent, Company and coverage that fits your comfort level.   


About the Author:
DJ Noland is a licensed insurance professional in the state of Arkansas and managing Principal of McGhee Insurance Agency.Our offices specialize in placing insurance protection for individuals and families & businesses in Arkansas and would love to visit with you on your  insurance protection to help structure a plan to protect what you’ve worked so hard for and will work hard for in the future.  

[Click here to contact DJ today.]

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