There are a lot of options available for anyone looking to get home insurance. The rates vary by company and coverage and it might be difficult to choose insurance for your homes. To help you out here is a short guide to home insurance.
1. Get several quotes. Because there are so many companies out there you should talk to an agent and get some quotes from each company. An agent should be able to answer all of your questions about the types of coverage you can get.
2. Pay yearly. If you pay all at once you usually get a discount, much like car insurance. If you can choose a company you already have insurance with (such as car insurance) you might get a discount for having two types of coverage with them.
3. Document your household inventory. If something should ever happen such as a fire, flood, or other act of god you should have an inventory of the things you had in your home. Include as many of your belongs as possible, and update often.
4. Check for new rates and any possible changes at least once a year. There are several things that could change and make a difference to your yearly rates. For instance you might get a new dog, think of getting a swimming pool, or inherit some antiques or jewelry. You would want these extra things to be added onto your policy in case anything happens.
5. Be safe. Home insurance companies like it when people have security systems in place, and if possible a sprinkler system. Both of these would help cover you greatly from things such as theft and fire. The results of having these in place could dramatically cut your yearly rates, even if they do cost a lot to install.
On top of all of these things where your home is located is going to make a HUGE difference in your premiums. Think of places where they often have hurricanes or other natural disasters. The people in these areas usually pay a high premium because of the increased chance something will happen.
Additionally if you live close to water you will have to get flood insurance. Flood insurance covers your home in case you get water in your basement or if you have other water damage. Although flood insurance in pretty expensive some places you will be better off getting it because of how insurance companies view water damage. For instance many homes that got damage from Hurricane Katrina a few years ago did not have flood insurance, and while they were covered for the hurricane and wind damage, the water that came with the hurricane flooded the homes and for many this wasn't covered.
With home insurance it is always a better idea to use an agent but also talk to the company directly to know for certain any information you need. Both the company and the agent should give you the same information but this isn't always the case, so if you have any questions contact the company directly if the questions are specific to your policy.
