How to Decide Which Homeowner Insurance Company is for You

Homeowner insurance is one of the most valuable assets a homeowner will have besides their actual house. Homeowners’ may find it confusing to pick out which company is best for them, since there are so many homeowner insurance companies. Picking the right company can save you hundreds on your premium, and the difference between a smooth transaction and a major headache. Homeowner insurance is an individual purchase and there is no one company that will be best for everyone. This article will take a look at 7 tips for picking the best homeowner insurance company.

1. Customer Service Reputation

A homeowner insurance company is only as good as their customer service. The last thing you want to happen is to get a disputed claim and not actually get any service. Insurance companies have to be fast about claims and also customer oriented.

2. New House or Old House?

Some insurance companies will not penalize you for having an old house if you have a proven tract record of upkeep and high over payments on your mortgage. Shop around to find the best home insurance companies that will give you the best deal; as newer home owners can often times save on their premiums.

3. Shop Around

Much like car insurance homeowner insurance requires you to shop around for the best deals. Different homeowner insurance companies will offer different rates to individual customers so do not look at what others pay, get an assessment for yourself!

4. Combination Insurance

Most likely if you are a homeowner you have a vehicle unless you live in the city. Look at combining your homeowner insurance with your auto insurance to save about 10% on your premium. Certain companies offer this, and certain don’t, so factor this in when picking the best insurance company.

5. Get More Than the Minimum Coverage

Even if you have the newest house on the block getting more than minimum coverage could save you thousands down the road. Look at it this way, would you rather have that new big screen TV and potentially spend thousands repairing your house because you got the minimum coverage, or pay the higher premium and have full coverage with no worries? The unexpected always happens when it is least convenient, especially in these trying economic times, so do not let this affect you.

6. What Companies Have Your Friends or Relatives Used and Liked?

A company’s best way to advertise is through good service to their customers, not through TV or internet ads. A first person’s opinion with the individual service can often let you know how good the homeowner insurance company really is without looking at all the useless advertisement jargon.

7. Cost of Premium and Deductible

When picking a homeowner insurance company you want to look at how much the premium is going to cost and also how much the deductibles cost. Do you really have the money for a high all inclusive policy or do you need a high deductible to save on the premium?