cheap homeowners insurance quote
Help with homeowners insurance. Do these number look right?
I am buying my first home and am looking up quotes online. So far farmers insurance is the cheapest. Is this a good compnay? My home appraised for $230,000 and I was told I need at least $155,000 in coverage. I was thinking of doing like $180,000 is that too much? Here are the other numbers on my quote, do they look like the standard stuff? I am so confused by this stuff!
Dwelling $180,000
Separate structures $18,000
Personal property $135,000
Loss of use $72,000
Medical Payments $1,000
Personal Liability $300,000
Deductible $500
According to these numbers my yearly premium would be $469.47. Does all this sound right???
Just a word of warning, those online numbers don’t stick.
You need to write the house for the cost to rebuild, either 80%, 90%, or 100%, depending on what the policy requires. If you have a kitchen fire, the insurance company doesn’t just buy the kitchen at market value. They have to FIX it. If you underinsure, that means, you’re sharing part of the loss. If you are WAY underinsured, according to policy terms, you could end up getting $10,000 on a $20,000 kitchen fire, and then being mad at the insurance company, because YOU messed up.
This isn’t something you should be doing yourself. I’m sure you’re going to skip some VERY important things, because you don’t realize they are important. What things? Here’s a partial list, an AGENT will be able to explain why you should have them:
Replacement cost on building
GUARANTEED replacement cost on building (if you can find it)
Replacement cost on contents
Backup of sewers & Drains
Building Ordinance & Law coverage
AND, any special personal property floaters that might be applicable.
Homeowners is a PACKAGE policy. Typically, the other structures are 10% of the dwelling, the personal property is 50% to 75% of dwelling, loss of use is typically 20% of dwelling.
Then, you have to consider COVERAGE form. At that price, you’ve probably got a crappy coverage form, maybe an HO2 or HO8. That can leave you uninsured for LOTS of things.
Don’t do “do it yourself” open heart surgery. Or “do it yourself” homeowners insurance.
How To Buy Homeowners Insurance : Learn the Considerations for Homeowners Insurance
Get Cheap Homeowners Insurance Quotes in Houston Texas
Looking for homeowners insurance quotes in Houston Texas? Here’s how to get cheap quotes from top-rated companies.
Homeowners Insurance
Homeowners insurance provides coverage for your home and your personal possessions when they’re damage by vandalism, theft, fire, smoke, and acts of nature. It also provides coverage for liability claims, medical payments, and legal costs if someone is hurt in your home and decides to sue you.
Most insurance companies do not cover damage caused by floods, earthquakes, terrorism, or acts of war. To cover these events you’ll need additional insurance.
Cheap Homeowners Insurance
Here’s how to get cheap homeowners insurance quotes in Houston:
* Compare rates – Comparing rates from various insurance companies is the easiest way to save money on your insurance. It’s also the biggest money saver.
All you have to do is go to an insurance comparison website, fill out a short form to get quotes from top companies, then pick the best quote. Some comparison sites feature an online chat service so you can get answers to your insurance questions from an insurance professional (see link below).
* Raise your deductible – The deductible is the amount you pay toward a claim before your insurer pays. Raising your deductible can save you as much as 30% on your yearly premium.
* Consolidate your insurance – Purchasing your homeowners and your auto insurance can save you up to 30% on your premium, plus you only have one agent and one company to deal with.
* Ask about discounts – Insurance companies offer discounts if you have burglar alarms, smoke detectors, dead bolt locks, and sprinkler systems in your home. They also offer discounts to people who are retired, single parents, non-smokers, and to people who are in law enforcement or the military. Ask about all the discounts an insurer offers and take advantage of them.
Visit http://www.LowerRateQuotes.com/homeowners-insurance.html or click on the following link to get homeowners insurance quotes in Houston from top-rated companies and see how much you can save. You can get more insurance tips in their Articles section.