House insurance, otherwise known as homeowners insurance, is the type of insurance that protects both the structure of your home and everything that you have inside (or in many cases, in the driveway and yard). If you are reading this, you are probably either looking for a house insurance calculator, or just came from one and looking to get a better idea of why you got the number you did. To help make things easier, I will start with the first category, and close with the second. The former is an easy answer, while the second might be a bit more complicated, so bear with me.
Looking for homeowners insurance calculator
If you are looking for a house insurance calculator, essentially what you are after is a homeowners insurance quote, and there are several ways to get that. You can find them on the websites of major insurance providers, and you can also find them on house insurance related websites. Using a house insurance calculator will help you get an idea of how much you will pay to insure your home and its contents.
A house insurance calculator will also give you a good indication of where you can find coverage at a reasonable rate, as most companies will give you a fairly accurate estimate upon completion of the calculator’s question wizard. Obviously, if you find a lower quote from one company, then you will probably want to follow up with them to make sure the quote is accurate, and the coverage worthy.
Getting a better idea of how does an insurance calculator works
Now if you just used a house insurance calculator and you aren’t sure how to understand the numbers, or why they gave you the rate they did, then there are a few things you can check. For example, if your house is expensive, has a quirky type of heating or cooling system, or is in a high-risk area, then it’s likely that your rate quote was higher than you were expecting. The best way to fix this is by comparison shopping with other insurance providers. Another option is to reduce the contents coverage, especially if you don’t own many fancy or expensive things, and don’t need a lot of household goods protection.
Lastly, if your rate was super low and you can’t figure out whether to trust the estimate or run, then I recommend that you place a call to that company to learn more. The best way to get a house insurance quote that is 100% accurate is by calling someone on the phone, rather than hoping that a computer program will give you the answer you need.
Getting a house insurance quote
Overall, getting a house insurance quote is a relatively painless process, especially if the company already has your information, which is often the case when adding homeowners insurance on top of your car insurance. The best way that I’ve found to buy homeowners insurance is to start by using a house insurance calculator online to compare companies and coverage types, and then follow up with a call to the best two or three companies on the list.
Why should you get a House Insurance Quote?
When buying a home, you will need to get a house insurance quote so that you can buy a homeowner’s insurance policy. This type of policy protects your home and its contents against all types of damage, such as that of a storm or natural disaster, theft, vandalism, and even accidents, such as broken pipes causing a flood, or accidentally stepping through the ceiling from the attic.
Getting a house insurance quote is important because most mortgage and loan companies will not approve the final loan package until you have purchased and shown proof of homeowner’s insurance.
How much will home insurance cost?
Now, depending on the type of homeowner’s insurance you want, a house insurance quote could range from under $100 per month to several hundred. If you have a home that is expensive to repair, such as an older home with strange heating and cooling systems, foundation builds, or wall structures, then your cost of homeowner’s insurance will be higher than that of a modern home.
The same is true of more expensive homes; having a million-dollar home will be more expensive to insure than a home under $100,000, for obvious reasons. Therefore, your house insurance quote will vary from situation to situation. Something else to keep in mind is that the contents inside the home will have as much to do with the cost of your homeowner’s insurance than the house itself. For instance, if you need $100,000 of household goods coverage, such as to protect expensive technology or jewelry, then you can expect higher prices than someone would pay for $10,000 worth of household goods coverage.
Also, a landlord policy, which is a type of coverage that only protects the structure and does not include contents, will be even cheaper than the rest, simply because you are getting the minimum coverage to protect your home against disaster.
What to consider when searching for house insurance?
So, as you can see, getting a house insurance quote means that you have to be knowledgeable and aware of your situation so that you can get as much coverage as you need, without buying too much.
In many cases, your homeowner’s insurance agent will work with you to make sure you buy the right amount, but just in case they don’t, it’s best to know how much your possessions are worth. Make sure to take stock of all electronics, such as stereos, televisions, speakers, computers, monitors, appliances, DVD’s, CD’s, your digital media (MP3’s from iTunes or Amazon, digital movies, etc.), and even things like keyboards, iPods, iPads, and iPhones. Also, take stock of jewelry, furniture, clothing, and any hobby equipment. As you can see, there’s a lot to count up!
From there, you should have a great estimate of the type of coverage you will need with your new policy. So, make sure that when you do get a house insurance quote, that you raise the coverage amount to account for all of your household goods, and don’t forget things in the garage and attic.