How to Choose the Right Homeowner’s Insurance

How to Choose the Right Homeowner’s Insurance

If you own your own home, it’s crucial to take out a comprehensive home insurance policy which will protect your home and its contents in a wide variety of situations. For example, many home insurance policies will provide you with funds if your home items are stolen from your home or if your home is badly damaged by a natural disaster such as a flood, earthquake or cyclone. Most home insurance policies also cover fire damage and burst pipes.

If you take out a home insurance policy you’ll pay home insurance payments every year. If at any time you wish to make a claim which is approved, you’ll be paid out an agreed amount minus your deductible. Your deductible is a set amount which you agree to pay when you sign an insurance policy, if you submit a claim. Keep in mind that the more your home is worth, the higher your insurance payments will be. 

Read on for useful tips on how to choose a home insurance policy that meets your needs. Find out how to choose between various coverage options, how to compare quotes from different home insurance companies, search for reviews and much more. 

Choosing the Right Policy

What does homeowners insurance cover? If you opt for basic dwelling coverage, your home will be insured against damage to your home and any structures that are attached to your home such as a deck, garage or a sleep out. 

If you opt for basic dwelling you will be covered against general damage such as fire damage, theft, vandalism, plumbing related damage and windstorms. In the event that your home is damaged you will receive enough funds to fix your home to its original state.

However, if you want to insure the contents of your home such as your furniture and electronics, it’s necessary to opt for a comprehensive home and contents insurance policy. This kind of policy will insure both your dwelling and your personal property. 

Lastly, you may also want to sign up for liability insurance which you’ll be able to use to pay for any lawsuits which are issued against you which are related to injuries sustained to individuals on your property. It’s definitely important to understand the three different homeowners insurance coverage types are available, before you sign a home insurance policy.

Customize Your Coverage to Suit Your Needs

Be sure to select an insurance company which will allow you to create a customized insurance policy which is tailored to your needs. 

As an example, if you are looking to sign a home and contents policy, you may want to increase your coverage to cover valuable pieces of art or an expensive car. Or you may want to bundle your home insurance policy with an identity theft policy or car insurance in order to get a discount on your premiums. 

Alternatively, if you have a strict budget to stick to, you may also be able to build your own customized plan based on what you can afford.

Consider Add-ons Like Flood Insurance

In order to increase your protection you may want to add a few add-ons to your home insurance policy. For example, it’s a wise idea to add-on flood damage insurance to your policy. Especially if you live in an area which is known for experiencing severe flooding. 

As flood insurance isn’t covered by traditional home insurance policies.Other add ons to consider include a sewer and drain backup policy and a sinkhole policy. You may also want to pay for a siding policy which means that if your roof is damaged, you can be awarded with enough funds to have the side of your home match your new roof. 

Compare Insurance Quotes From Multiple Companies

As the cost of coverage can vary wildly between different insurance companies, take the time to get quotes from multiple companies. For example, if you’re searching for cheap homeowners insurance you may want to get quotes for Geico homeowners insurance and progressive homeowners insurance. To see which company will offer you a better deal for your chosen policy and add-ons. 

Search for Unbiased Company Reviews

If you’re searching for the best homeowners insurance, it’s a smart idea to create a short list of reputable home insurance companies to investigate. 

During your research, make sure to search for unbiased online reviews from multiple platforms. Ensure to pay particular attention to reviews which have been published in the last 12 months, in order to gain an up to date perspective on each insurance company.

When you’re browsing through online reviews, pay careful attention to whether clients’ claims were quickly approved. As ideally you want to select insurance for a home which makes it easy for you to get a claim approved. Remember that in an emergency, you may require emergency funds to repair damage to your home or to replace stolen items, as soon as possible. So there’s no point choosing the cheapest insurance company if they don’t pay out their claims quickly. 

Make Sure to Meet Your Mortgage Lender’s Minimum 

If you have taken out a mortgage to pay for your home, your mortgage pay stipulates that you have to have your home insured for a minimum amount. This is a policy to protect your lender’s investment. So it’s well worth talking to your mortgage provider about your home insurance obligations before you take out a policy. In order to ensure that the policy which you select meets their minimum requirements. 


If you’re not sure whether to take out a Progressive home insurance or to sign up for a policy with another reputable insurance company such as Geico, it’s definitely well worth following the valuable tips above. 

Also make sure that you’re well aware of the three different homeowners insurance coverage types to ensure that you select the right home insurance for your specific needs and desired coverage. As the last thing that you want is to sign a policy which doesn’t cover you against major risks to your home.

By Admin