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Our nationwide network of local independent agents is ready to help find the perfect coverage at the best rate for you.

Trustedchoice.com
May 25, 2021
Home Insurance

How this quote will help me?

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

Homeowners types of claims and causes chart


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)
  • Maintenance-related losses
  • Wear and tear damage (i.e., poor home upkeep)
  • Insect damage or infestations
  • Business-related liability

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

Travelers
westfield insurance
Nationwide
foremost insurance group
state auto insurance companies
progressive insurance company
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