Getting an Online Home Owners Insurance Comparison

Your home is one of if not your most important investment so it only makes sense that you want to protect it against damage, theft, and destruction. This is the purpose of insurance, to transfer the risk of ownership from you the homeowner to the insurance company. This is particularly important when there is still a mortgage on the home.

As important as insurance is it is also equally important to not pay more then you need too. This is where doing an online home owners insurance comparison can help you save money on that monthly premium. It is important to remember that with insurance that more expensive doesn't necessarily mean better coverage. This is why it is so important to look over the coverage being offered before buying a policy.

There is intense competition within the insurance for the consumer dollar and this is why you can save money simply by comparing rates and coverage's between the many insurance providers that exist. Nearly all these companies have websites that allow you to get your quote delivered right to your computer screen. Even better are those sites that work with a multitude of providers and return multiple quotes while you only have to fill out one form.

When you get ready to fill out the online forms here is some of the types of information they will ask for.

1. Square footage of your home - You will need a relatively accurate measurement of the size of your home, the construction materials used to build it, and the year of its construction. Everything from the type of shingles on the roof to the type of flooring can adjust your rate up or down.

2. Determining how much coverage you need - This is normally based on the cost of rebuilding your home in the event it is completely destroyed. It is important to remember that you should not insure your home for its appraised value because you will be over insured and pay an unnecessary amount on your monthly premium.

3. Personal property - Doing a home inventory beforehand will help with estimating the coverage amount you will need on your personal property.

4. Choose your deductible - Most insurance companies require at the minimum a $500 deductible. Raising it by $500 can see a savings of 25% in many cases.

5. Fire protection and security systems - Your rate will also depend on how close the nearest fire station is and the availability of fire hydrants in your neighborhood. You can also save money if you have a home security/fire alarm system installed.

You will need to get at least four quotes when doing a home owners insurance comparison. This will give you the information you need to make an informed decision about the type of insurance policy you need and the rate you are willing to pay.