Updated: May 22, 2024
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You need homeowners insurance in case something happens and your home sustains damage due to weather, vandalism or fire. But no one wants to spend hours and hours comparing homeowners insurance companies. That’s why getting online home insurance quotes is a great way to save yourself both money and time.
Most major home insurers provide online quotes and shopping.
Shop around to get the best price on homeowners insurance.
Prices and coverage levels can vary significantly from company to company.
While it’s not required by law, many mortgages lenders do require homeowners insurance. To provide an online quote, most insurance companies need the same basic information. You’ll need:
You may not need all of this information for a quote from every company, but it’s a smart idea to have it ready, just in case.
You’ll need to spend some time thinking about how much insurance you need. Do you know how much your home is worth? You’ll need enough coverage to rebuild it if it’s totally destroyed. If you have valuable personal property, like art or collectibles, you might want to add extra coverage. Ditto if you have a business based out of your home, especially if it’s childcare. Give some thought to how much liability coverage you’ll need, as well as how much of a deductible you’re willing to pay.
Most big insurance companies now offer quotes online. Rather than spending days calling various companies, you can compare quotes from multiple companies in just an hour or two. Here is a partial list of insurance companies where you can obtain an online quote:
Company | Annual Premium | |
|---|---|---|
1. | Allstate | $1,748 |
2. | Chubb | $1,761 |
3. | Nationwide | $1,782 |
4. | MetLife | $1,813 |
5. | USAA | $1,834 |
6. | Travelers | $1,887 |
7. | State Farm | $2,027 |
8. | Farmers | $2,046 |
Allstate offers a wide range of insurance products, including hazard insurance, with its homeowners insurance policies. It tops the list for affordability, customer service and financial strength.
You’ll want to compare both what a quote covers as well as the reputation of the best homeowners insurance companies to find the right policy for you.
Gather up your information and have it right in front of you. You can visit each company’s website and enter your information, or you can use MoneyGeek’s quote tool to obtain quotes from multiple companies. It’s easy and it just takes a few minutes.
Some companies make it easier to obtain a quote than others do. Some insurers can pull up information about your home based on public records, expediting the process. Some providers offer discounts if you purchase a policy online, and some have a convenient save feature, so you can come back and finish your quote later if you need to.
MoneyGeek obtained quotes from multiple companies, and the following had the easiest online quotes.
Allstate can pull up information about your home — such as the year it was built, what type of residence it is and how many square feet it has — just by accessing public records. All you need to do is update the information and answer some basic questions, and Allstate presents you with three levels of homeowners insurance. It takes less than three minutes. Allstate also ranks highly for customer satisfaction.
Amica asks all the basic questions, including if you’d like an auto quote as well, and doesn’t require that you enter a phone number. It asks if you’ve ever been declined by an insurance company, how many years you’ve been with your current insurance company and if you’re a current customer. After a few questions regarding the location of the nearest fire station and fire hydrant, your quote appears in minutes.
Liberty Mutual gives you a 10% discount for purchasing homeowners insurance online. It can pull up information about your home from public records, leaving you to answer questions such as whether or not anyone rents from you or if you own any aggressive dogs. Your quote saves after every page you enter, so you can easily get back to it later.
Compare levels of coverage included with a quote as well as the price to ensure you're getting the most for your money.
Insurance companies often offer discounts, so be sure and ask to have your quote adjusted if you qualify for any of these:
Some of these you can’t do anything about, such as the year your home was built. However, updating your wiring or electrical system could save you money if it’s aging and inefficient. Installing a monitored home security system can be pretty easy, give you some peace of mind and save you money.
After you've gathered a collection of online quotes, you can determine which company is right for you. Compare quotes by examining what’s covered by each company to determine which one fits your needs best. You might also consider each company’s customer service, as well as its financial strength.
You’ll need to compare four different types of home insurance coverage as well, including:
It may surprise you to learn that floods and earthquakes are not covered, so if you live in an area that is prone to these disasters, you’ll want to get a rider.
Coverage is further broken down by whether you choose actual cash value (ACV) or replacement cost value (RCV).
As an example, MoneyGeek secured a quote from Liberty Mutual. These are the details of the quote:
Not included are:
You can add all of those things at an additional cost, but they weren’t included in the quote. If you obtained a quote from another company, you would compare these amounts of coverage and the overall price. You could also compare prices for actual cash value vs. replacement cost value vs. guaranteed cost value among various companies. Keep your requirements in mind, so you don’t buy coverage you don’t need.
Luxury goods usually have a limit of about $2,000. If your diamond bracelet is worth more than that, you’ll need a rider to cover it.
Probably not. Homeowners insurance doesn’t usually cover infestations.
Yes, but you’ll have to pay a deductible first. Keep in mind that filing a claim will make your rates go up, so consider whether it’s worth it or not before you file.
Probably, up to the amount listed in your policy. Some insurance companies won’t insure you if you own a dog they consider aggressive, like a pit bull. If you make a claim because your dog bit someone, you will be charged increased premiums and then possibly dropped by the insurance company.
Hail damages far more vehicles than homes, but in cases where hail is large, roof damage can occur. After a hailstorm, inspect your roof for damage so you can submit a claim quickly.
No, although 43% of homeowners mistakenly believe that damages from heavy rain are covered. If you live on a flood plain, your mortgage company may require you to carry flood insurance.
If you have specific questions about policy limits or what your specific policy covers, you should call the insurance company’s customer service number. They should be able to answer these questions.
If you have questions that the online quote system can’t answer, you can call the company’s customer service phone number, which you can usually find on the same page as the online quote.
As you’re filling out the online quote form from different insurance companies, you may be thinking, “Wow, this is a lot of personal information I’m putting online. How safe is this?” There are a few things you’ll want to consider:
Since your homeowners insurance company protects your biggest asset and your most important possession, you’ll need to find a good insurance company. MoneyGeek did an exhaustive analysis to find the best homeowners insurance companies. We considered things like:
Price is an important consideration, but if you need to file a claim, you’ll want to know that your insurance company will be helpful and provide excellent service. You’re already stressed — you don’t need your insurance company to be a source of more stress.
Where you live has a significant impact on how much you’ll pay for homeowners insurance. You can find your state insurance commissioner and ask what specific issues affect your state.
About Gail Kellner
Gail Kellner is a freelance writer who specializes in personal finance and insurance. She loves to help people make the best financial decisions they can. When she's not writing about financial matters, she writes children's fiction and her first book will be coming out sometime soon (or so her publisher says). She has two delightful children on the autism spectrum and a husband who says he is not on the spectrum.
