Compare Home Insurance Quotes in 3 Minutes

The reason you should shop around for homeowners insurance is simple: To save money. Insurance companies use different underwriting methodologies, which is why you may see two carriers charging differently for the same amount of coverage. In addition, changing market factors such as inflation and the price of labor and building supplies can cause price fluctuations in the insurance industry.

Comparing Homeowners Insurance Rates the Traditional Way

We recommend shopping for homeowners insurance the SmartFinancial way if you want to save time and effort. But for comparison’s sake, let’s look at how tedious it can be shopping around the traditional way.

Step 1: Decide How Much Coverage You Need

Determining the right amount of home insurance coverage is the crucial first step towards protecting your home and assets. To make an informed decision about your home insurance coverage , you will need to consider the following factors:

• Rebuilding costs: Dwelling coverage insures the structure of your home and to make sure you have the right coverage, you will need to research the cost of rebuilding your home in case it is completely destroyed.
• Personal belongings: Take inventory of your personal belongings, including furniture, electronics, jewelry and other valuables. You’ll want to ensure you buy enough coverage to insure the value of all your property.
• Liability protection: Liability coverage helps protect you in case someone is injured on your property or if you accidentally damage someone else's property. Higher liability limits are recommended if you have some high-risk amenity like a pool or trampoline.
• Additional coverage: Some perils are excluded from coverage such as floods and earthquakes so you may want to buy additional insurance to plug these coverage gaps.

Step 2: Make Sure You Have the Right Information and Documentation

To get the most accurate quote, you will need to have the following information about yourself and your home at the ready:

• Vehicle year, make and model or vehicle identification number
• Property address
• Year home was built
• Square footage
• Number of stories
• If there are any detached structures
• Age and condition of roof
• Number of people living in the house
• Whether the house is your primary or secondary residence
• Claims and insurance history
• Coverage start date
• If you protect your home with safety features such as deadbolts, burglar alarms or sprinkler systems

Step 3: Research and Contact Insurance Companies

Now you'll need to contact each homeowners insurance company you're considering for a quote. Many companies offer the option to generate online quotes through their website, while others may require you to speak with a live agent. In either case, you'll typically need to provide the necessary information outlined in the last step to obtain your homeowners insurance quote.

While cost is certainly important, it should not be the sole determining factor when deciding on a carrier. Customer reviews about an insurance company’s service and their financial stability ratings are also important to consider or you might select a provider that offers lower rates but has a poor claims process.

Once you've decided on an insurance company, you'll need to contact them and ask them about the next steps on buying the policy, such as choosing your policy’s start date and how to make your first payment.

The SmartFinancial Way To Compare Homeowners Insurance

Imagine shopping around the traditional way and having to call each insurance company individually and providing your information each time. This can be time-consuming and you’re already busy enough.

Good news for you: Getting a free quote using SmartFinancial is fast and simple.

With SmartFinancial, you complete just a single form and then we use this information to match you with a policy based on your coverage needs and budget. No more looking up insurance company numbers or waiting to get transferred. And better yet: This service is completely free.

How SmartFinancial Works

1

Complete a Quick Questionnaire

We’ll ask you some questions about yourself, details about your home and the insurance coverage you want.

2

Compare Rates

We’ll look through offers from over 200 insurance companies large and small so you don’t have to.

3

Find Coverage

Choose the policy that best fits your coverage needs and budget. Quick and easy, right? Oh, and 100% free, of course.

Get Quotes

Factors That Affect How Much You Pay for Homeowners Insurance

Several factors influence the cost of homeowners insurance. Here's a list of key factors that have an impact on your rate:

• Location: Homes in areas prone to natural disasters, crime or extreme weather conditions may have higher premiums.
• Coverage limits: Opting for higher coverage limits provides more protection but can result in higher premiums.
• Deductible: Your chosen deductible is the amount you'll pay out of pocket before your insurance coverage kicks in. A higher deductible can lower your premiums but may increase your out-of-pocket cost in the event of a claim.
• Home safety features: Safety features like smoke detectors, security systems and fire-resistant materials can lead to safety-related discounts.
• Claims history: A history of frequent claims may lead to higher premiums.
• Credit score: In some states, a higher credit score can result in lower insurance costs.
• Add-ons: Basic policies cost less but offer limited coverage, while comprehensive policies that fully insure your jewelry, antiques and other valuables provide broader protection at a higher cost.
• Bundling: Many insurers offer discounts if you bundle your homeowners insurance with other policies, such as auto insurance.
• Age and condition of home: Older homes or homes in poor condition may have higher premiums due to increased risk of damage or maintenance issues.
• Proximity to emergency services: Living near a fire station, police station and other emergency services may lower your rate.
• Discounts: Inquire about available discounts, such as loyalty discounts, new customer discounts or discounts for home improvements that enhance safety and security.