Your quote is based on several common factors to give you a clear picture of the cost you can expect, though an independent agent can shop around and maybe even improve your rate!
NOTE: This quote is not final, though we did work with professional actuaries to help get you a ballpark figure to get started.
Homeowners insurance isn’t required by law exactly, but nearly every lender will require a policy in order to give you a loan. At a minimum, they’ll want your policy to cover the amount you owe on the loan. It’s just their way to protect their investment in you.
Simply put, you need homeowners insurance to protect your home, finances, and livelihood. You’ve worked hard to afford a home you love, and it deserves to be protected. Having the proper insurance coverage can prevent you from going bankrupt and losing the things you love after a costly disaster. Standard homeowners insurance packages provide the protection you need for a number of common threats to your home.
It's hard to offer an exact figure without knowing your unique situation and all the details of your home, but homeowners insurance premiums can fall somewhere between $650 and $1,650 annually. Just remember, the fewer risks you have to worry about, the less insurance will cost.
With access to multiple insurance companies, independent insurance agents are unlike any other type of agent out there. They’ll help find you the best coverage options and most competitive prices, all for free. To find a local independent insurance agent, click here.
It’s important to think of your budget both now and later. In terms of now, you want to make sure your premiums fit comfortably into your current planned budget. And as for later, think of what you would be able to pay for if the unexpected happened and you had to pay the amount before your deductible. Is $500 right for you? $2000? Your agent can help you find the best option for your situation.
While homeowners insurance provides a lot of important coverage, sadly it can’t cover absolutely everything. Disasters like hurricanes, floods, and earthquakes typically aren’t covered by your insurance and require additional coverage to help protect you. It’s a good idea to become familiar with the listed non-covered perils in your specific policy so you’re not expecting coverage when you don’t have it.
As exciting as owning a home can be, dealing with risks like fire, theft, and other unexpected disasters can leave a lot to worry about. That’s why having the right homeowners insurance is so important. But in order to get the most out of your insurance, you need to understand all the ins and outs as well as what is and isn’t covered.
What does homeowners insurance cover?
To put it simply, homeowners insurance is designed to repair, replace, or recover the value of what you currently have (under coverage) if it’s damaged due to any number of causes.
Most common claims covered by insurance
Your independent agent can help give you a clear, personalized picture of the coverage you need, but every policy generally comes with four main types of coverages.
Structural damage: Perhaps the most commonly used protection, this includes damage to your house and any structures on your property due to water, fire, severe storms and a few other common risks.
Personal property coverage: This will depend on the policy. Items like furniture may only be covered up to a depreciated value, whereas valuables like jewelry might not have any coverage at all, requiring additional insurance protection.
Standard home liability: This will cover legal expenses if someone is injured, or if their personal belongings are damaged while on your property.
Additional living expenses: If your house suffers damage that's beyond repair, most policies will pay for a hotel and other living expenses, including groceries.
Situations homeowners insurance typically does NOT cover
It’s a good idea to become familiar with the situations not covered by your policy. The more you know about your coverage, the easier it is to avoid the hassle of filing sure-to-be-denied claims.
Homeowners insurance does NOT cover the following
Certain natural disasters (i.e., floods, earthquakes, and mudslides)
Wear and tear damage (i.e., poor home upkeep)
Insect damage or infestations
In addition, if you run a business out of your home, your home policy typically won’t cover any liability-related mishaps. It also limits liability coverage for certain types of vehicles, like aircraft, ATVs, and boats. The easiest way to make sure you have the coverage you need is to tell your independent agent all about your home and any related business.
The best ways to save on home insurance
To start, combining other policies and raising your deductible are two of the easiest ways to drive down your cost. When you work with an independent agent, they'll help you find the most discounts based on what you qualify for, including the following.
Safety discounts: Upgraded special safety features like burglar alarms, sprinklers, or a high-quality roof.
Bundling discounts: Multiple homes? Cars? Bundle them together with the same carrier for a discount.
Group discounts: Certain associations and professions like service members, teachers, farmers and even dentists get group discounts.
Loyalty discounts: Customers who stay with the same insurance company for a long time are rewarded with discounts.
Near a fire hydrant/fire station: The closer you are to a fire hydrant and also the fire station, the faster fires can be put out, earning you a discount.
New home: New homes typically are built with stronger safety innovations, making claims less costly.
High-quality roof: Hail and wind damage are among the top reasons homeowners file a claim. A sturdy roof can lower your premiums. (Of course, it lowers your heating bill and looks nice, too. Sweet!)
Tidy yard: When insurance reps visit your property, they like to see it looking spiffy. Neatly trimmed grass, shrubs, and trees lower fire risk and show the insurance company that you care about your property. Discount!
Avoid recreational hazards: A home without a pool or trampoline is at much less of a risk of a claim, earning you a discount on your coverage.
Your independent insurance agent has your answers
Whatever you need, your agent has your back. With a brief intro into the terms, discounts, and process of your homeowners insurance, you know the kinds of questions to be asking. Your agent will ask you all about your home, its use and your goals and help find the perfect blend of coverage at the right cost for you.
Best Homeowners Insurance Companies
Our independent insurance agents work for you, not the insurance companies. That means you always get the best coverage options to choose from.
When you have options from multiple companies, it's easier to find the best coverage at the right price, at no extra cost to you.
There's an independent agent in every city who always understands the insurance coverage you need most based on local laws and needs that apply to you.
What our customers are saying
Work Done For Me
I looked at different individual companies, but it was so time-consuming to fill out each individual application and keep track of them all. Trusted Choice got back to me quickly and gave me an option that worked. I ended up with Travelers, which has a great price. The online process was pretty easy. Plus, they did the legwork for me. It was a great experience.
June of Medina, NY
I tried finding home insurance myself but I wasn't coming up with very much. I contacted Trusted Choice and they looked at various options and presented it to me. Everything with the agent went very smoothly... He knew exactly what we wanted and searched accordingly. I was able to choose the one that I thought was best so it worked out for me. I'm happy that I did it that way.
Dean of Loveland, CO
I needed homeowners insurance for the home that I was buying and based on the pricing, I went with Trusted Choice. The process was all done online and I didn't really have to do too much. The website was also easy to use and navigate and it was not overly intimidating. Everybody that I've dealt with also seemed good and professional. It was a positive experience.
Jacob of Mesa, AZ
Every year I search for homeowners insurance to make sure that I’m getting the best bang for my dollar. I went with an independent agent because if I go through them, I get that one-on-one instead of being just a number.... The experience was great.
Rudy of Altamonte Springs, FL
TrustedChoice.com was real helpful when I needed to get homeowner's insurance. The agent gave me the basics of what I'd be getting if I got insurance with them.
Christine of Chipley, FL
I needed a different independent agent to get insurance and I went with Trusted Choice. Their website was helpful in connecting me to two or three other agents that I was able to speak to. Their site did what I needed.
George of North Haven, CT
Trusted Choice's online process is super easy. They pulled most of the information and I ended up going with one of their recommendations. Aside from them, everybody else was too expensive. Plus, the Trusted Choice agent offered more coverage.
Kirstin of Colorado Springs, CO
Everybody at TrustedChoice.com was helpful and pleasant. They set us up with a great match and gave us our best option and price.
Tawny of Hubert, NC
Best Coverage and Rates
I did a lot of searching for homeowner's insurance and I went with a Trusted Choice agent because they provided the best rates and coverage. I haven't had a claim but I know I'm covered and that's good news. I would recommend Trusted Choice.