Once you've found the house you want to buy and started the closing process, you'll need to start looking for a homeowners insurance policy that fits your needs and your budget.
Insurance quotes can be very different depending on where in the country you want to live, how big the home you want to buy is, and how many things are in it that are easy to steal. Most quotes from private insurance companies, on the other hand, will be between $300 and $1500 a year.
If you're working with a helpful realtor, they should have already told you how important it is to get Homeowners insurance price quotes before choosing a plan that's right for you.
If a real estate agent hasn't already told you, you should call at least three different insurance companies to get quotes for your home. You may already have an insurance company in mind, like the one that handles your parents' insurance or the one that handles your car or life insurance.
If you don't already have an insurance company, don't be afraid to look for insurance companies online or in the phone book. You might also know names from commercials. You can use these names to get an idea of how much something costs.
No matter which insurance company you start your search with, make sure you get at least three price quotes from three different companies before deciding on the best quote for your home.
Before you call insurance companies for price quotes, you should know a lot about the home you are buying. This includes the home's current appraisal value or an estimate from before it went on the market.
You will also want to make a list of the home's size and features, such as the square footage of each room and any unique flooring, countertops, or architectural features that add to the home's value.
Also, before you start, make a list of things like appliances, furniture, jewellery, and any large pieces of art or collectors' items that will add value to the home. If you have all of this information ready, it can speed up the process of getting a rate quote.
With the rise of technology and computers, a lot of big home insurance companies have started putting information online so that you can get a quick quote in 10 to 15 minutes. This means you don't have to talk to a salesperson on the phone, who might try to sell you insurance you don't need.
Many of these sites also have information about the different kinds of insurance, so you can sit down and read it without feeling like you're asking too many questions.
Some of the biggest insurance companies, like Allstate, State Farm, Liberty Mutual, and Travelers, have information and quick rate quotes for Homeowners insurance online. There are, of course, many other insurance companies you can find online. If you have access to a computer and the Internet, take the time to look into these companies.
If you've tried more than one insurance company and still aren't happy with the prices, try changing the details of the plan. Before you commit to an insurance rate you don't like, find out if you can change the deductible, the amount you pay for coverage, or even your personal liability insurance.
How much insurance is enough for your family is really up to you. Keep in mind, though, that if you feel like you can't afford the prices being quoted, there are ways to make payments more affordable.
One of the best ways to manage the annual cost of homeowners insurance is to raise the deductible, which is the amount the homeowner has to pay before the insurance company starts paying for damage or loss. Most insurance companies will require a minimum deductible of $250 or $500, but the homeowner can easily change this to $750 or $1000 to lower the annual payment.
If this doesn't help you get a fair quote, talk to the insurance agent and ask what you can do to lower the rate. Most of the time, if you give them a rough idea of how much insurance you can afford each year, they will work to help you reach that amount.
You might even want to think about putting in security or fire safety features if the insurance company gives you a discount for doing so. Adding these features may cost you some money up front, but it will save you money on your insurance in the long run.
