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How to buy homeowners insurance online (2020)

Shopping for a home can be a lot of fun and knowing that your family will have a foundation is a great feeling, but figuring out the little things like how to buy homeowners insurance is extremely painful.

Or is it:

  how to buy homeowners insurance

What if I told you that it is much easier to get a home insurance and buy a home insurance now than ever before and that You do not have to be a part of the 70% of people who do not do any research when it comes to getting affordable home insurance.

In this post today I will go through not only how to buy home insurance but also the best ways to buy it, what coverage levels you should look for and who the best homeowners insurance company is in 2020.

How to buy homeowners insurance

The process of buying homeowners insurance can be confusing and downright time consuming if you do not know what you are doing.

To buy home insurance properly you need to know a few things:

  • Basics Of Home Insurance Coverage
  • Understanding How Much Homeowners Coverage You Need
  • Understanding The Cost Of Home Insurance
  • Where To Buy Home Insurance [19659014] When you learn these 5 steps, there will be nothing in your way of getting covered and having this part of the home buying process out of the way. [19659002] We will cover all these areas below so that you can have a clear mind and be able to make the most informed purchasing decision.

Home insurance easy.

Agents not required.

Get quotes and sign up online without talking to an agent. But we're here if you need us.

Uncharted, expert advice.

Get impartial insurance training from licensed experts and also avoid dodgy sales calls.

Coverage in minutes.

You can get home insurance coverage within minutes of receiving your quotes and application.

What is Homeowners Insurance?

Let us first address the most basic question, what is home insurance?

" In Plain English " – Homeowners insurance is protection against a covered loss of your house, the things inside it, the things related to it and the things around it.

Homeowners' insurance has five parts of the coverage for them:

Home coverage

This coverage is used to insure the structure of your home, as well as structures that are attached to your home such as garages or appliances such as your stove.

Other Structures Coverage

This coverage is used to insure "Other Structures" that are in your country such as an oil shed, a house or a dog house.

If your plan has this coverage, the limits will probably be determined based on the housing coverage you have.

Personal Property Coverage

This coverage is used to insure your personal items such as clothing, computers, furniture and jewelry.

Liability coverage

Your liability insurance is used to protect you against lawsuits if someone is injured in or on your property or if your dog bites someone. [19659002] Make sure you read your policy as some home insurance companies may not cover your specific dog breed for liability if they bite someone.

Additional Cost of Living Coverage (ALE)

I must say that ALE coverage is one of the most overlooked and underestimated parts of homeowners insurance.

It will cover the cost of temporary housing why your house is built or becomes uninhabitable due to a covered loss.

And guess what:

If you had a tenant in n your home, it would also cover their rent payments to you.

These 5 different parts of homeowners insurance cover you for lots of dangers like:

  • theft
  • fire
  • wind damage
  • things falling from the sky
  • volcanoes

We also wrote a post about all the things that your homeowner's insurance covers.

However, you will not find coverage for earthquakes or floods, but we definitely recommend examining that coverage separately.

Is homeowner insurance required?

There are no federal laws that require you to have homeowners insurance.

But just as you get insurance for everything else, your home purchase is not something you should drop without insurance.

Your home purchase will be one of the most important investments you will make so not covering it with insurance would be a big mistake.

Also keep in mind that just because it is not by law, your mortgage lender or apartment association does not need it.

How much home insurance do I need?

To know how much home insurance you need, we must first decide a few things:

  • What is the Total Compensation Cost of Your Home?
  • What valuables do you have that may require additional coverage?
  • Do you live in an area that has constant natural disasters?
  • How much can you afford to spend each month for coverage?
  • Will you choose replacement cost or actual cash value cost?

Once you have answered these questions, I recommend that you get another half of the coverage amount just to be on the safe side.

So: [19659002] If it costs a total of $ 350,000 to replace your home, try to get $ 500,000 in coverage to combat anything that may change such as material or labor costs.

Each part of the policy will cover specific parts of your home so understanding the boundaries of each part of the policy will be extremely important.

You must also determine the type of compensation you will receive for each area of ​​your policy:

Actual Cash Value

If you have a policy that focuses on only the actual cash value of your home or personal property, you to look at the cheapest option.

But this option only gives you what the current market value of the item you lost is worth.

For example:

If your laptop is destroyed by a covered loss and you only have actual cash value coverage, you may only be reimbursed what the laptop is worth now, not what it would cost to actually replace the computer based on how much you originally paid for it. [19659029] Compensation cost value

Buying a policy that has the option for compensation cost cost will cost a little more per month than a policy that only provides real cash value.

However, this type of policy gives you the actual cost of rebuilding your home today if you were to suffer a covered loss.

I would always recommend this option if you can afford it just because the price of labor and materials will ever change.

Imagine that your house is valued at $ 500,000 when you first built it, but it will cost $ 580,000 to rebuild it.

If you have a replacement value attached to your policy, you would be fine to go and the policy would cover you.

If you only had actual cash value, someone would have to come up with the additional $ 80,000 to rebuild your home.

There are also some policies that offer guaranteed replacement costs and increased replacement cost value as well.

These two options will be the most expensive, but offering additional coverage limits a few percentages above your current policy limits.

You must also decide what risks you may have for liability, your personal property and any other dangers you may take on as a new homeowner.

How Much Does a Homeowner Ins urance Cost?

The cost of your home insurance will be determined by the coverage levels you buy as well as the value of your home and the state you live in.

As we stated above, you must decide what coverage amounts you want to go with respect to your:

  • Housing
  • Liability
  • Medical Payments
  • Personal Property

You will also find that the limits of your coverage for under things are usually a fixed percentage of your housing coverage limit:

  • Personal Property
  • Other structures
  • Loss of use or additional cost of living

You must choose your self-insurance deduction, which is what you will be responsible for before the insurance company starts contributing.

Deductibles can range from $ 500 all the way up to $ 2500, but keep in mind that the lower your deductible, the higher your monthly premium and the higher your deductible, the lower your monthly cost will be.

You also want to be sure to get significant limits for liability insurance and medical coverage.

Your liability insurance will take care of all litigation that may arise while the medical part can take care of medical bills of people who have been injured on your property.

Reviews.com has a quick checklist and Insurance.com has a good post about the average annual cost of home insurance and provides guided details below:

* Prices are based on a nationwide average annual premium .

Where can you find the best homeowners insurance?

As with everything, once you have been trained about a product or service, the next question is where do you find it and where are the best places to buy it.

When it comes to buying homeowners insurance, there are only two places you should look:


Buying online through a site like ours will be one of the best places to find homeowners insurance quotes and coverage.

When you shop online, you can get the fastest quotes and easy comparisons of household insurance.

You can buy directly from companies like Hippo by clicking on our link to the right or check out our review here .

When you shop online to cover, you give yourself the opportunity to buy on your own time, and you can usually get a quote and be covered in minutes not days.

You will also find that you can get a little more savings when you are dealing with a completely online insurance product because they have lower overheads they give the savings to you.

You also get the benefit of a faster processing of your claims; This is important for any insurance you may purchase.

Through An Agent

Talking to an agent is also a great option to find insurance information and get covered.

If you think you want to get your hands on and let someone guide you through the process, then there is no better option for you.

Home insurance easy.

Agents not required.

Get quotes and sign up online without talking to an agent. But we're here if you need us.

Uncharted, expert advice.

Get impartial insurance training from licensed experts and also avoid dodgy sales calls.

Coverage in minutes.

You can get home insurance coverage within minutes of receiving your quotes and application.

Take Action

We need to pull ourselves out of the idea that homeowners insurance is something that comes with our mortgage and just take what we get.

As I said above according to Hippo, during their recent study, over 70% of people stated that they do not do any research or shop when it comes to homeowners insurance.

This is the worst number ever, and you should not be part of the 70+ percent of people.

You can click here to start your path to coverage now or check out our review of Hippo which we have found to be one of the best home insurance companies for 2018.

Thanks for Reading My Posts … Before You Go!

What did you ink from my post? Did I miss anything?

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