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How to Find the Best Home Insurance for Your Needs

Choosing the best homeowners insurance policy for you depends on many factors, and there really is no one-size-fits-all plan where home insurance policies are concerned. Insurance companies offer varying coverage plans with significant differences in rates. Comparing home insurance costs and coverage from multiple insurers can be a very daunting task, especially if you are comparing plans online.

Rather than spending a day entering your personal information into multiple websites in search of the best home insurance rates, contact an independent agent in the Trusted Choice® network. A local agent in your area can do a home insurance comparison for you, and help you find the best homeowners insurance for your needs.

Trusted Choice vs. Big Brands

The Trusted Choice brand is built on the customer-focused integrity of more than 300,000 business owners, agents and employees nationwide. With more local insurance agents than State Farm and GEICO, this network of agencies serves more consumers and pays out more claims

compare chart of different insurance brands

Home Insurance Statistics

  • Approximately 64% of homes in the U.S. are undervalued
  • These dwellings are estimated to be undervalued by an average of 18%
  • The average homeowner has enough coverage to rebuild 81% of the home if it is demolished by a fire, tornado or hurricane

What does it mean if your home is undervalued? Unfortunately, it most likely means that you are insured for an amount of coverage that won’t come close to paying for a major loss. For this reason, it is important to get an updated valuation on your home and make sure your homeowners coverage is adequate. If you are not sure your homeowners insurance company offers the best coverage or value, this may be a good time to compare home insurance quotes to determine if there is a better policy for your needs.


How to Compare Home Insurance

The first concern of most home owners is the cost to cover their house and property. You purchase your home based on what you can reasonably afford, considering the cost of insurance, taxes and anticipated repairs. If you discover your home is undervalued, does that mean you need to pay more for homeowners insurance to cover your home’s actual value? Perhaps, but most home owners find they can get far more value out of their home policy, and more peace of mind, for a very nominal increase in homeowners insurance.

Comparing homeowners insurance from several different insurance companies is one of the best ways to keep costs down. You may have found your home insurance company through a mortgage lender, through a friend, or from an online search. How do you know whether you are getting the best home insurance rates and coverage?

Here are some important tips for comparing homeowners insurance:

  • Work through an agent. Independent insurance agents work with several different carriers, and can compare rates for you from top homeowners insurance companies to help you find the right coverage at the right price.
  • Ask to review the home insurance company ratings. All top insurance companies are rated by independent organizations like A.M. Best. You want to work with a company that has an A+ or A++ rating. These ratings are based on customer service, financial stability and other indicators that can help give you confidence in the company you choose.
  • Narrow down your choices. Select a few of the best homeowners insurance companies that serve your state.
  • Ask about all available discounts. Collect discount information from the top homeowners insurance companies you want to compare. Independent agents can compare the discounts available through each carrier. For example, these may include:
    • Claims-free discounts
    • Discounts for installed security systems and other safety measures
    • New customer discounts
    • Better rates for a good credit score
  • Provide the information each company will need to provide a quote. Be sure to supply the same exact information for each plan you compare. For example, if you are a husband and wife couple, make sure you both supply your information to each company.
  • Compare various scenarios with each of the plans, including increasing your deductibles. Increasing the deductible you will pay in the event of a claim will lower your premium quotes. Just make sure you feel confident that you can afford the deductible amount out of pocket in the event that you need to file a claim.

By working with an independent agent in your area, you will have someone who will advocate for you and help you find the best home insurance for your needs. Your agent will also answer all of your questions and help you evaluate multiple options so that you can make an informed decision on your home coverage plan.


More Tips for Choosing the Best Home Insurance

When shopping for the best home insurance for your needs, in addition to choosing one of the best rated homeowners insurance companies, you also want the policy to be tailored to your home and family.

The following are some additional recommendations for making sure you have the best plan for your needs:

  • Compare the cost of actual cash value coverage vs. replacement cost value insurance for your home and other structures on your property
  • Compare actual cash value vs. replacement cost value for your personal property
  • Review the cost of additional “riders,” or additions to your policy, for special items like antiques and collectibles, family heirlooms, jewelry and fine art
  • Determine if you need any other additional coverage, such as for an “in-law unit” that you rent out
  • Ask about whether your policy includes adequate coverage for natural disasters
  • Determine whether you have enough homeowners liability coverage, based on assets you want to protect
  • Go over any other special circumstances you want to cover, such as items your college aged child may have at school
  • Ask about multi-policy discounts for combining your home, auto and other policies (such as your boat or RV) under one insurance company

Not all homeowners policies are created equal. Although standard policies exist in the industry, individual insurance companies handle particulars differently. To find the best home insurance policy for you, make sure you talk with a knowledgeable agent who will make sure your risks are covered, that you get all of your questions answered, and that you find the best home insurance for you at the best price.

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