Insurer vs. Consumer: Who Really Has the Best Homeowners Insurance Rate Deal?

Insurer vs. Consumer: Who Really Has the Best Homeowners Insurance Rate Deal?


I actually get those questions quite a bit. Consumers have seen all the ads on TV, heard pitches from their agents and gotten cards in the mail says, Local Records Office. But with so many insurers competing for their premium dollars, it can be tough to figure out which company is really the best.

So What Makes an Insurer Good?

Let’s establish a couple of rating factors first. Of course, consumers want a company with good service and not just aggressive marketing campaigns. We all know that it will not do us any good to save a few dollars if our company does not support us when we need to make a claim on our policy!

Second, we do not want to overpay. As consumers in a tough economy, we need to make every dollar count. We want to find a company that will offer us the best deal on home insurance.

So the question we have defined is, how can we find a top insurer with an affordable premium for a homeowner like us?

Is Your Insurer Loyal?

Loyalty goes both ways. If you have paid your premiums for years, you may not be getting the best deal. You may have changed some things about your own life that could earn discounts with your old insurer, or with a new one. But do not sit by the phone waiting for your old company to call you up and tell you this. You need to ask.

Some changes that should prompt deal shopping:

Have you purchased another car? Auto and home discounts are popular with some insurers.

Have You Purchased Another Home?

Have you installed any equipment on your home that might make it safer? Have you put on a new roof or installed an anti-theft device. You probably won’t know if these actions will lower your premiums until you ask.

If your old company cannot lower your premiums, or find any ways to save you some money, it is time to shop around. Not all companies discount for the same thing. In fact, I saved almost $200 a month on my home and vehicle policies when I switched companies. The irony here is that my old insurer was a popular one that always advertises itself as a discounter. My new company does not brand itself this way, but ended up giving me a better deal to get my business!

Luckily for you, online home insurance quote forms make this pretty simple. You can find some short and free quote forms online. You simply enter the basic information about your home online. If you are searching for a home and car discount, you may key in-vehicle information too. These forms should ask for your zip code because insurance is regulated at the state level. You cannot figure out how much your premiums will be if you live in California by comparing them to New Your or Alabama rates.

The downside about insurance is that many insurance companies claim to the best, the best at quotes, the best at protecting your home and car, etc. When deciding whom your insurance company will be do your homework first and take your time.