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I checked the mail recently and noticed a renewal for our home insurance. We've been with the same insurance company since we bought our place, but that necessarily doesn't mean we'll be staying with them.
That means that I'll be firing up the laptop and phone as I seek to get some quotes. Every so often we review what we have for our insurance to make sure it’s still a good deal. Many times we're getting a competitive rate, but once in awhile we'll discover a break on premiums.
Shop Around for Insurance Premiums and Coverage
There are several places you can get home insurance quotes – from the companies' own sites to specialized site that compare several for you. When looking at premiums make sure you understand what the deductibles are.
If one company offers substantial savings at a higher deductible ask yourself if you have enough money in your emergency fund to take care of that. If not, stick with the lower premiums.
I'd also call to see if bundling can save you some cash. Many insurance companies offer discounts when you have multiple policies with them. Asking questions is a great way to uncover discounts that you may qualify for and it can also improve the coverage you can get
The key to get a few quotes that you're happy with and whittle it down to your top 3.
Comparing Apples to Apples
My advice when you're looking at different offers is to have your current policy in front of you. When you fill out your information to get quotes you need to have accurate information and I don't trust my memory for that. That's simply too much information to keep on my mind with everything going on.
My next piece of advice is to look at your top choices and ask your friends if they would recommend them for you. It doesn't help to have low premiums if the coverage and service from the company is subpar. We factor customer service in when looking at policies.
Thoughts about Home Insurance
Shopping around and making calls does pay off – it can lead to enough coverage for your situation without breaking your budget. I'm curious to see how many of you compare prices and policies and how often. I know with a busy schedules it can be difficult.
What company do you have your home insurance with now? How long have you had them? Have you ever compared and shopped around?
Photo Credit: TaxBrackets.org
This post was included in the Carnival of Personal Finance.