How to Shop for Home Insurance

How to Shop for Home Insurance
  • Opening Intro -

    If you have not shopped around for home insurance in some time, you may find that better deals await you elsewhere.

    Certainly, your current insurer may want to keep your business, but with double-digit rate increases in some areas it pays to shop around.


You can obtain new home insurance by carefully following several outlined steps.

1. Review your current policy. Your current insurance coverage will be the basis for your new coverage, offering the same deductibles and exclusions you currently have. Pull out your current policy, learn when it is set to renew and begin to shop for a new policy before your current coverage expires. You may be able to switch coverage before your current insurance term expires, however you may still be responsible for outstanding payments.

2. Obtain quotes from insurance companies. Contact other insurance companies and ask for quotes. You can contact each company individually or you can use a service such as Esurance to receive multiple quotes. The advantage of the latter is that you share your information once before quotes from multiple providers are offered.

3. Review and choose. Compare each home insurance offer. Review carefully to ensure that the proposed coverage matches what you currently have or meets your new requirements. Choose the insurance coverage that suits you best and set up an effective date. You can have the new coverage kick in the day after your current policy expires or earlier.

4. Contact your previous insurer. Once the new insurance coverage begins, contact your now previous home insurer. Your agent’s contact information is listed on your policy. You may need to follow up your phone call with a written request by means of postal mail or email. Settle your account by receiving a refund if due or make your final installment to close out this account.

5. Follow through with your new insurer. Review your new homeowners insurance policy to verify that the coverage listed matches what you requested. If there is a discrepancy, contact your insurer immediately. Your new insurance provider may request follow up documentation.

Insurance Considerations

Keep your active homeowners insurance documents in a safe place and shred your old documents. If an emergency hits, you must be able to access your policy. Keep your insurer’s contact information handy if an emergency happens. Lastly, consider adding umbrella coverage to gain maximum liability protection. Typically, your insurer covers your home and your cars, and extends umbrella coverage to go beyond your basic liability.

See Also — What You Need to Know About Home Insurance


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Categories: Insurance

About Author

Matthew C. Keegan

Matt Keegan is a freelance writer and editor as well as publisher of "Matt's Musings", his personal blog. Matt covers campus, consumer, business and financial topics on various websites and blogs, and has been published in the "Houston Chronicle", "Sam's Club Magazine" and "Wisconsin Golfer".