How to Get Cheap Home Insurance Quotes
Ideally, you can find and compare home insurance quotes online — though in some cases you may need to go through an agent, either via telephone or email.
Finding cheap home insurance quotes can take some of the pressure off your household budget, helping you get enough coverage without overpaying.
Ways to get homeowners insurance quotes
The easiest way to get home insurance quotes is to request them online.
Most large companies allow you to request quotes directly from their websites. You can expedite the process by using a quote comparison site.
Some large home insurance companies provide instant quotes. Others will forward your information to an agent, who’ll follow up by phone or email.
Small and midsize company websites tend to provide links to agents in your area. You usually need to contact these agents to get a quote.
And if you don’t feel comfortable shopping for homeowners insurance online, most companies also provide quotes by phone or in person in an agent’s office.
What information you need for a home insurance quote
Regardless of how you shop for home insurance, you’ll typically need to provide the following information to get an accurate home insurance quote:
- Name and date of birth for you and your spouse (if applicable)
- Address and general information about your home
- Specific home details, including whether you have a pool, trampoline and/or pets
Insurance companies also typically obtain information about your home’s size and construction features from other sources, such as your county assessor’s website.
When you receive your quote, you’ll see the information the insurance company has about your home. Since this information helps determine your coverage and rates, make sure it’s accurate.
Advantages of getting cheap homeowners insurance quotes
Getting cheap homeowners insurance quotes allows you to find the best rate for your specific needs and circumstances.
Many of the factors home insurance companies use to determine your rate vary by customer. These include:
- The age, location and construction features of your home
- The amount of coverage you need
- Your insurance history and, in most states, your credit
Since each company weighs these factors differently, you may save significant amounts by shopping around. We recommend comparing quotes from at least three companies before you purchase home insurance or renew your policy.
How to get cheaper home insurance quotes
Choosing a higher deductible and taking advantage of discounts are the most common ways to get cheaper prices in your home insurance quotes.
Think carefully about your deductible
Your deductible is the amount you pay before insurance funds kick in for damage or theft to your home or possessions.
Higher deductibles are cheaper, because they reduce the amount the insurance company has to pay you for a claim.
If you need help choosing a deductible, ask for quotes showing your rates with two or three different deductible options. Just make the deductible you choose isn’t more than you may be able to afford after a disaster.
Find the best home insurance discounts
Since discounts vary by company, it can be a challenge to make sure each home insurance quote you receive includes all the discounts that are available to you.
In fact, many of the questions in quote request forms are designed to see if you qualify for certain discounts.
You may feel uncomfortable sharing details about your home and personal background for an insurance quote, but doing so may help you score some price cuts.
Here are some of the most important homeowners insurance discounts to look for in your quotes:
- Bundling: Most companies provide a generous discount for bundling your home insurance with an auto policy.
- Home security discount: Several companies offer a discount for having a home security system. Systems with third-party monitoring can save you the most.
- Smart home discounts: A few companies offer discounts to homes equipped with smartphone-monitored sensors that detect break-ins, fire and/or water leaks.
- Home renovations: Several companies offer a discount for recent home renovations such as roof replacement and plumbing, heating or electrical upgrades.
- Military discounts: Some companies offer discounts to current and former members of the military.
- Affinity discounts: Some companies offer discounts to those who work in certain fields or belong to certain organizations.
Each quote you receive should show the discounts that have been applied to your rate. Don’t be shy about asking if others may be available.
Deciding how much home insurance coverage you need
The amount of coverage you need in your home insurance quote depends largely on the value of your home and your own personal net worth.
If you already have insurance for your home, you can share your existing policy’s declarations, or “dec page,” with the companies you contact.
When you have a mortgage, lenders require you to insure your home at its replacement value, which is the estimated cost of rebuilding it. Most insurance companies use computerized modeling to determine your home’s replacement value, based on the home’s specifications.
You can insure your home at less than the replacement value if you have a low loan balance or no mortgage at all, but doing so is rarely advised.
Your policy’s dwelling coverage pays to repair damage to your home. Here’s what you need to know about the other standard coverages in a typical home insurance quote:
- Other structures: Can pay to repair damage to detached garages, sheds, fences and other structures not connected to your home. You may need to add more coverage if you have a cottage or another finished structure in your yard.
- Personal property: Covers your belongings for theft or damage. To be sure that the default coverage amount is enough, you can create an itemized list of your possessions and add up their combined value.
- Loss of use: Covers temporary living expenses if your home is uninhabitable during covered repairs. The default amount is usually enough.
- Personal liability: Covers injuries or property damage you accidentally cause to others. Your personal liability limit should match your net worth.
- Medical payments: Covers injuries a guest suffers in your home, regardless of fault. Default limits typically range from $1,000 to $5,000. Anywhere in this range is usually enough.
Endorsements to consider for your homeowners insurance quotes
In addition to standard coverages, most home insurance companies offer endorsements, or extra protections, that you can add to your policy.
Although these add-ons increase your rate, the coverage they provide may be useful, depending on your needs.
Here are some of the most important ones to consider asking about for your quotes:
- Scheduled personal property: Most policies only offer limited coverage for valuables like jewelry, fine art, camera equipment and even golf clubs. Personal property endorsements provide more protection for specific valuables you may own.
- Water backup protection: Standard home insurance typically excludes damage from backups of your home’s sewer and drainage systems. This relatively inexpensive endorsement pays for cleanup and repairs from a failure of one of these systems.
- Extended replacement cost: Extended replacement cost coverage kicks in if the costs of rebuilding your home after a total loss exceed your policy’s limit.
Frequently asked questions
Your home’s value and location have a large influence over the rate shown in your home insurance quote.
In most states, insurance companies will also factor your credit history into your rates. Recent claims at a home you’re purchasing may also influence your rate.
Yes, and doing so is a good idea. Lenders require you to have homeowners insurance in place before your close date.
In areas with wildfire risks, getting a quote before you submit an offer can help you find out if the home is even insurable.
Homeowners insurance generally isn’t required by state law. However, lenders in every state typically require it for a mortgage.
Your policy’s coverage limit usually needs to match your home’s replacement value, which is the estimated cost of rebuilding it.
For a mortgage, your policy’s limit typically needs to match your home’s replacement value. If you live in a planned community, you may also need to meet your associations’ liability insurance requirements.