How To Shop For Home Insurance

Shopping around for home insurance is worth the effort, whether you’re purchasing a new home or want to review pricing for your existing coverage. Getting quotes from multiple insurance companies can help you discover the best options at the best price.

Navigating Home Insurance Shopping

The priority when buying homeowners insurance is to get the right coverage to meet your needs. While many companies offer homeowners insurance, their plans differ as much as their prices. Customizability, options and policy types can vary within the same company.

Work with an insurance agency that partners with multiple insurers. Agents with David Pope Insurance Services, LLC have decades of experience and industry expertise. Our team leverages this knowledge and a deep partner network to help you compare options and get the coverage you need, regardless of which company offers it.

The Insurance Shopping Process

Requesting multiple quotes allows you to protect your largest investment and peace of mind at the best value. There may be additional coverage levels, inclusions or discounts available that you weren’t aware of. We recommend getting at least three quotes for a meaningful comparison. Online tools make the process straightforward and efficient.

Determining Your Needs

The initial step in comparing insurance coverage and buying homeowners insurance is to identify how much protection you need. Too little coverage raises your risk of not receiving enough reimbursement if you experience a loss.

That means placing a value on your home and possessions. Answer the following questions to arrive at the right amount:

• What will it cost to rebuild your home in case of a total loss? A policy with replacement cost coverage will factor in your home’s features, size, materials and location to help ensure enough financial protection.
• How much are your belongings worth? Consider your clothing, furnishings, appliances and more. Taking a home inventory can help. You can also opt for replacement cost coverage for these versus the standard actual cash value payout, which is often lower than what you’ll pay to replace them.
• Do you have high-value belongings requiring scheduled personal property coverage? Traditional homeowners insurance may not provide enough coverage for high-value items like artwork, antiques and jewelry, so take note of these and ask your agent for additional protection options.
• What is your net worth? Your personal liability coverage should be high enough to replace your entire net worth if a lawsuit against you succeeds.

Contact Us to Find the Perfect Policy

You’ll also need to provide some fundamental information about your property to request a quote:

• Size, age, style and construction materials, including roof type
• Number of bedrooms, bathrooms, fireplaces and detached structures
• Personal information for owners and occupants
• Whether you need coverage for a business on the property
• Heating and cooling systems and type
• Existing safety devices, like alarms and deadbolts
• Pets living on the property and their types or breeds
• The renovation history of your home
• Whether you occupy the property full-time and, if not, whether you rent it
• Any higher-risk features, such as a pool or trampoline

Exploring Policy Comparison Strategies

There are several policy aspects to consider when comparing quotes you receive:

• Deductibles: This amount is the cost you must pay out of pocket before the insurance company coverage applies. For example, a $500 deductible means you’d receive $1,000 from your insurer for damages totaling $1,500. Lower deductibles result in higher premiums.
• Coverage limits: This amount is the maximum your insurance company will pay you for a covered loss. Similar to lower deductibles, higher limits will raise the cost of premiums.
• Exclusions: These are events and losses your insurance policy doesn’t cover. For example, you’ll need a separate policy for damages resulting from flooding.

When you work with agents at David Pope Insurance, you have access to our industry expertise to help you evaluate options. We provide in-depth guidance on your insurance offers based on your unique real estate and personal property coverage needs.

Maximizing Discount Opportunities

You can take several steps as a homeowner to help keep premiums lower — safety improvements, loyalty programs and bundling.

Consider upgrading your property with additional safety features. Adding a security system, updating your carbon monoxide detectors, or equipping your home with a sprinkler system can reduce rates. As a bonus, these solutions safeguard your family’s well-being and boost your peace of mind. Similar discounts for updates like a reinforced roof or storm protection features may be available.

Many insurers also offer forms of loyalty programs as incentives. They may reduce your premiums for staying with them for a specified duration or for having claim-free histories for a certain length of time.

Bundling involves covering multiple needs, such as your home and auto insurance, with one company. Among the practice’s many benefits is its potential to save you money — insurers typically reward the extra trust with lower premiums.

Comparing Policies Effectively

The easiest, fastest and most friction-free way to get your quotes is through a proven insurance agency that offers coverage from many companies. You’ll save time with one phone call or quote request while agents like those at David Pope Insurance contact the insurers and shop for you.

Once you have the quotes, it’s time to compare them. Make a side-by-side illustration detailing key policy and coverage aspects. You can do this online using our comprehensive checklist and creating a spreadsheet.

Down the left side of the sheet, list crucial factors to compare between providers:

• Premium amount
• Deductible options and changes to the premium corresponding with those choices
• Listed exclusions, to prevent an unwanted financial surprise and let you ask about protection to safeguard against them
• Whether the policy offers actual cash value or replacement cost coverage
• Personal liability and medical expense coverage for injuries sustained by others on your property
• Add-on and endorsement options

Across the top, you can list each insurer and fill out the information. Try to align aspects across providers as closely as possible as you compare. That will help ensure you’re basing your decision on your coverage needs rather than just price. 

Get a Free Quote!

It’s also good to remember that the quotes are estimates, and any adjustments you make will change the actual premiums you pay. A knowledgeable insurance advocate will answer your questions and help you make sense of everything.

Your Partner In Insurance Shopping

Don’t leave money on the table when lower rates for similar coverage may be available. Shopping around will let you discover any discounts you may qualify for without sacrificing the coverage you need.

The David Pope Insurance team has a successful track record of helping homeowners throughout our service area with a fast, stress-free comparison process to find you the perfect policy. We provide quotes from a large network of insurance partners the same day, not weeks later. Connect with us online or request your personalized quote today.