The type of policy you choose and the amount of coverage you seek will impact the cost of premiums on the homeowners insurance quotes you receive. When you start shopping for home insurance online by requesting free quotes from different home insurance companies, you want to make sure you enter the same information on every site you visit. This will allow you to make an accurate comparison and feel confident that the policy you choose to purchase is the cheapest for your individual circumstances.
The main elements of homeowners insurance quotes are found in what the policy covers. A standard policy will cover damage to the exterior of your home due to fire, lightning, wind or ice. As a homeowner, you are responsible for ensuring that your home is properly maintained, as damage caused by poor maintenance is not covered by an insurance policy.
While a standard insurance policy covers water damage inside the house if the source of the flooding occurs inside the house, such as broken water pipes. Floods originating outside the home are not covered and if you need this type of coverage, you will have to pay extra, which will increase the price of the quote. Damage caused by earthquakes and acts of terrorism are not covered by any type of home insurance.
Homeowners insurance quotes also include coverage for the loss of your personal belongings. This includes your clothing, furniture, and appliances. However, there may be a limit on how much you can claim if you incur a total loss because the amount of this coverage is limited to half of the homeowner’s coverage. If you have expensive furniture or clothing, you may need to request an additional quote for insurance on these items.
If you own your home and rent it out to others, this involves a different type of homeowners insurance policy. Due to the increased risk to you and the insurance provider, homeowners insurance quotes of this nature are higher than if you lived in the house. Such insurance, however, does not include contents insurance because it is the renter’s responsibility to purchase their own policy to insure the contents of the home.
It’s important to have the maximum amount of personal liability included in the homeowners insurance quotes you request. This covers expenses incurred if a person is injured on her property, even if her dog bites her. If you have a dog, the insurance company will want to know the breed of the dog because some dogs that are known to be dangerous, like pit bulls, will cost you more on insurance. In some cases, insurance companies will not sell you a policy if you have one of these animals.
You should also make sure that the home insurance quotes you are considering include a loss of use clause. This means that if your home is completely destroyed or damaged to the point where you cannot live in the home until it is repaired, you have the coverage you need to pay your living expenses elsewhere. This coverage would reimburse you for the cost of a hotel stay or another home rental, as well as the cost of your meals at a restaurant. However, there are daily limits on the amount of money you can spend in such situations.