Great home insurance deals in one place

Great home insurance deals in one place

Great home insurance deals in one place

Great home insurance deals in one place

Want to find the best home insurance policy but are tried of looking for the right on numerous sites? We are glad to offer you the possibility to get the best five home insurance quotes in your area by just typing in your ZIP code. Or, in case you prefer any particular insurance company, we provide a list of top insurers that will offer you the best home insurance deals.

If you are concerned about getting a home insurance policy but don't want to overpay or get too little coverage for the price you're paying, we give you a great possibility to shop around and compare home insurance offers from the most reliable insurance companies. Forget about going to dozens of corporate site, looking for the necessary information. Here's your source of reliable info that you can use when purchasing a home insurance policy.

Is it mandatory to have a home insurance policy?

Unlike the situation with car insurance, you aren't legally required to won a home insurance policy to live in your house. But, in case you've used a mortgage to finance the purchase of your house the lender will most likely require you to purchase a home insurance policy. The lenders thus protect their investments from the impact of damage your home may face during natural disasters or other unforeseen events.

In case you purchase a home in an area with a high risk of flood or earthquake, the lender is likely to require the respectful type of coverage to be included in your home insurance policy. When you buy a co-op or condo, you are most likely to be required to purchase a home insurance policy by the board.

When you have paid off your mortgage you are no longer legally required to have a home insurance plan. But it is recommended that you don't cancel your policy, because not having coverage in an exceptional case will cost you too much.

Cancellation and non-renewal: what is the difference?

If you think that policy non-renewal and cancellation is the same thing, think again. There's a substantial difference between these two. Generally an insurer hasn't the right to cancel a home insurance policy that is active for more than 60 days except when:

  • Your premium is not paid in time
  • You have misrepresented or committed fraud on your policy.

In case of a non-renewal it's either you or the insurer who decides to stop cooperation when the policy expires. In case it is your insurance company opting for non-renewal, you can contact their customer support to know the reason of such a decision. If you believe the reason is unfair, you can contact your state insurance department to investigate the case.

What determines your home insurance policy cost?

The insurance companies use a whole set of factors to determine the price of your future home insurance policy:

  • The entire are of the house and additional structures to be insured in square foots.
  • Costs of building structures in the area.
  • The construction, features and materials of your home.
  • Crime rates in the area.
  • The probability of a natural disaster to damage your house.
  • Factors determining the speed of putting out a fire if occurs (proximity to a hydrant, proximity to a fire fighting station, etc.)
  • The current state of the heating, electrical and electrical systems.

In case you rent a house or apartment, live in a condo or co-op, the insurance company will not take the square footage or building costs into account. However, the factors influencing the likelihood of damage to your property will be considered more attentively.