How To Find Affordable Homeowners Insurance Quotes

If you want to calculate homeowners insurance, it's important to remember to compare the value included in every quote rather than just the price. If you buy a homeowners insurance policy with just a pretty price tag, you may find that you're underinsured should you ever have to file a claim. Make sure you understand how your homeowners insurance quotes are determined and what factors affect your rates to make sure you're getting affordable homeowners insurance without sacrificing coverage.

What Determines Your Homeowners Insurance Quotes?

When a licensed agent determines your homeowners insurance quotes, the size and location of your home are two of the most important variables in the equation. You should know the square footage of the house before calculating your quote in order to quickly estimate the total replacement cost of your home. Your home's risk of exposure to natural disasters will also be evaluated based on your ZIP code. The lower your risk, the lower your rates are likely to be.

When you buy homeowners insurance, you can manage your policy to best fit your coverage and budget needs. Setting a higher deductible could help make your premium a little more affordable. Homeowners insurance agents caution some policyholders against using this strategy if they are unsure that they will be able to meet a higher deductible after a claim. Remember, the amount you set as your deductible is the amount you’ll be required to pay out of your own bank account before you can receive coverage from your policy after a claim. Keep this in mind as you compare quotes, and make sure you get the coverage you’ll need in an emergency.

Other Factors That Could Affect Your Homeowners Insurance Rates

In addition to your home's risk of being damaged by covered perils, many home insurance companies will evaluate your risk as a policyholder. Consider how some of your personal qualifications may affect your quotes before you buy homeowners insurance:

How's Your Credit?
Your insurance score is closely related to your credit history and is one of the first things an insurance company will consider before offering you a quote. If you've got a higher credit score, you can probably count on receiving lower home insurance rates than someone with poor credit.

How Many Claims Have You Filed?
Your claims history is another factor that helps insurance companies determine your risk of filing claims on your new policy. If you're a claims-free homeowner, your home insurance quotes will likely be lower than a customer who has had several accidents resulting in filed claims.

How Safe is Your Home?
Many home insurance companies offer big discounts to homeowners who have taken smart safety precautions to help prevent costly claims. If you’ve installed smoke detectors, a security system or deadbolt locks, you could qualify for great discounts on your home insurance policy. Talk to your licensed agent before you purchase homeowners insurance, and make sure you’re getting the discounts you deserve.

Get Your Homeowners Insurance Quote

Once you understand how your home insurance rates are determined, it's easy to explore your options and find the best quote for your needs. The most important thing to keep in mind is that you're searching for value over price. Choose the policy that offers the most protection in a home insurance quote you can afford. You can use a homeowners insurance calculator to quickly get an estimate of the coverage that's right for you, and then talk to a licensed agent about how to manage your policy in order to get a home insurance quote that best fits your budget.