HOW MUCH? - home owner insurance

Choosing a home owner insurance company. State laws are on your side.


Finding the best homeowner insurance can be a lot of work, but choosing the right one will well pay off if you ever have to make a claim.

You should never go with an insurance company based solely on the lowest quote.

Find out all you can about the insurers you are considering, and don’t hesitate to spend as much time as needed on this process. It can save you from a lot of trouble in the future.

Ask your friends, coworkers, and neighbors who insures their homes. Get referrals from your realtor and find out who provided homeowner insurance, before you owned the property. You can also check the yellow pages and consider current local advertisements for insurance deals.
Then narrow it down to at least five companies and ask them for quotes. Next, research the companies which offered the lowest quotes.

Find out about the insurance company.

Insurance business is regulated by state laws, which differ from state to state.
State insurance departments can provide valuable information on companies licensed in a particular state, including average homeowner insurances rates and frequency of complaints filed. 

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Another place to start your research is the National Association of Insurances Commissioners. Apart from learning about average rates and consumer complaints made against the companies you are considering; it is also a good idea to look into their financial stability history. One of the best sources for information on insurance companies from a financial point of view is A. M. Best – The Insurance Information Source.

See also: home mortgage, home buying mistakes




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