Double Check, Get To The Bottom of Discrepancies

Every so often, mistakes happen. If you notice a glaring discrepancy between two quotes you receive from different companies on the same type of coverage, get in touch with them and ask about it. There are any number of reasons for this happening.

You may have made a typing error when inputting information to get the quotes. Perhaps there was an error with the Web site or the information provided to them by the insurer. Or maybe there is no mistake and the rates charged by two companies are just drastically different.

Whatever the reason may be, it never hurts to double check and make sure there are no mistakes. You do not want there to be any doubt in your mind when it comes time to make that big decision on the best homeowners insurance. So just remember these keys:

• Double check the information you input into the Web site
• Contact the administrators of the site if the discrepancy still exists
• Contact the insurance providers if there is no error on the part of the Web site providing the quotes

Flood Insurance & Homeowner Insurance Quotes

When it comes to obtaining homeowner insurance quotes, few things are more confusing than flood insurance. Even if you have been told you do not "need" flood insurance, this may not mean you shouldn't consider purchasing it. Remember, depending upon the property location and other factors, some mortgage lenders require flood insurance. However, even if you are not required by the mortgage company to carry flood insurance, it may still be a good idea, especially if you live in an area prone to flooding, severe storm surge or earthquakes that may result in flood related damage due to broken pipes.

Use the following to help determine if you should purchase flood insurance when shopping for homeowner insurance quotes:

1. Does your mortgage company require it? If so, be sure to ask how to purchase a flood insurance policy. Most are sold separately from the regular policy.
2. Do you reside in an area prone to flooding from storm surge, rising tides, rising rivers, flash flooding or even breakage of pipes that may result in water damage?
3. Do you have partial coverage under a scheduled property floater to provide flood coverage for expensive guns, equipment, antiques or other items?

Quotes Come With No Obligation

When you request an insurance quote, don’t get nervous. There is no obligation to purchase that policy. Asking for a quote simply means that you will be made an offer of services at a specified rate. That is all it is: an offer. You do not have to take it.

Request as many home insurance quotes as you want. There is never any obligation. One thing to keep in mind, though, is that rates do change. In most cases an insurer will provide you with a quote that is good for a certain period of time, usually 10 to 14 days or so, but that may vary. After that time passes, the quote no longer applies and the rate could change.

So pay attention to the date you request quotes so you can adhere to the proper timeline. If you want to accept the policy and rate offered in a homeowners insurance quote, do so within the time period allotted by the company. If not, simply let it go and move on to the next.

Understanding the Anti-Concurrent Causation Clause

The term “Anti-Current Causation” sounds so complex many homeowners would simply ignore anything that followed. However, like most small print related to your insurance, it's actually important to understand, especially when obtaining a new home insurance quote or comparison shopping.

The Anti-Concurrent Causation clause is contained in many homeowner policies and may severely limit or restrict the amount of funds paid out in the event of a wind and water-related claim. Essentially the clause limits the amount of coverage to correspond to the flood damage when wind and flooding both act concurrently to cause damage to a property.

When shopping for a home insurance quote, be sure to ask the following questions so you can better understand the Anti-Concurrent Causation clause and how it could affect your finances in the event of a major storm.

1. Does the policy contain the Anti-Concurrent Causation clause?
2. Over what time period is the event considered "concurrent?"
3. What would be the limits of my personal liability if only the flood portion were covered while wind damage was excluded?

Comparing The Right Insurance Policies

When comparing two insurance quotes, you have to make sure that the playing field is level. You know what features you want to have in your policy and what you want to spend. Comparing insurance quotes from two different companies is good, but not if you are comparing the wrong two policies.

So make sure that both policy are geared toward the same type of coverage. Otherwise you are entering apples and oranges territory. That is not to say you cannot compare two policies and find that one offers something that you want and one does not. But the comparison must be based on both the financial aspect as well as the coverage provided. You cannot make a fair and beneficial comparison based on one and not the other.

Start by looking at plans that fall within your price range and provide the essential features you are looking for. From there you can compare to see if one has additional benefits that another does not and whether those features sway you in one direction or the other.

Credit Score and Homeowners Insurance Quotes

Among the many criteria used to derive an insurance quote, the personal credit score is one of the most confusing and frustrating for many homeowners. Learn how to compare homeowners insurance even if your credit isn't perfect with these simple tips:

1. Search for companies that do not use insurance credit score information. While many insurance underwriters use individual credit scores to partially determine rates, it is possible to find companies that do not. Don't automatically assume you will pay less though; it's still a good idea to comparison shop before making a final decision.
2. Examine individual scores. Sometimes one family member has better credit than the other person does, so it might be possible to obtain quotes that are more competitive by putting that person down as the primary policyholder. Ask your agent for more information when obtaining a home insurance quote.
3. Know your score. It's often possible to dramatically improve your credit score simply by making a few small changes or even using a different credit reporting agency. Obtain a free copy of your credit score to begin building a better score today; even if it doesn't help reduce homeowners insurance premiums right away, you could still start seeing savings within six to twelve months.

Request Home, Auto & Other Insurance Quotes At The Same Time

Remember that you are most likely eligible for a discount if you have multiple insurance accounts through one company. Now consider this when you compare home insurance quotes. When you are checking quotes for home insurance it might be a good time to get quotes for other things like auto and health insurance as well. If the rates and policies from one company catch your interest for home insurance, get quotes for the others from that company as well.

You may find that you can save a considerable amount of money by switching other accounts to a new company when you insure your home. This is a vital part of comparing quotes because it can save you a lot of money with just a little time and effort.

You can even do all this at once in the same place with insurance quote aggregators. You can get insurance quotes in each area and see how you can benefit from the different options, before rushing into the wrong choice.

Comparing The Right Quotes

Homeowners insurance comparisons do not have to be a complicated process, as long as you take a minute to pay attention to the details. For example, often times people don’t stop to think about exactly what they need and what they are looking for when comparing quotes.

It does you no good if you are buying a house and looking at quotes online when one is for a condo and the other for a single family house. You may think they are similar enough, but for insurance purposes, they are night and day.

You don’t want to pick a plan only to find out that it is for a completely different type of structure than the one you are trying to insure. So take a minute, figure out exactly what you need to insure, and compare the relevant quotes to one another. It will save you time and confusion later on.

Benefits of Online Comparisons

Comparing homeowners insurance quotes online has many benefits. Let’s start with the obvious, you don’t have to spend hours calling every prospective insurer or driving to their local offices to get the information it takes minutes to get online. So you save time, gas, and oh yeah … money.

You can sit in the comfort of your own home and have all the information you need side-by-side on your computer screen. Now you can weed out the companies and policies that are not right for you and focus on the ones that appeal to you the most.

So now what do you do? Compare the finalists. What looks both good and bad about each quote? What questions do you still have? Most sites you can get online quotes from will have service representatives that you can call and discuss the information they gave you, or you can call insurance companies directly. The key is that comparing insurance quotes weeds out the providers and coverage plans that simply won’t work for you and allows you to hit the ground running with the remaining ones.

Comparing Quotes Online

The quickest and by far easiest way to compare homeowners insurance quotes is to do it online. So how do you do that? If you are thinking that you have to go to a different site for every company you want to get a quote from, you can put that worry to bed right now. All you need is the help of one Web site.

Quote aggregators will provide you with insurance quotes from all the major companies licensed to provide insurance in your area. You can do side-by-side comparisons without having to click from one window to the next or print out dozens of pages and lay them out on your desk or coffee table.

Even if you’re a slow typer, it won’t take long to input the information needed to get you those quotes, and they’ll walk you through the process. Sites like these that are reputable will also have a section that goes over frequently asked questions and the “ins and outs” of the insurance industry, arming you with the tools you need to make the right decision on your home insurance.