How to Compare Homeowners Insurance Companies

Getting homeowners insurance quotes should be an annual ritual. Even if you aren’t moving into a new home, obtaining a quote and comparing policies is a good way to make sure your plan is competitive and you have adequate coverage. You can research homeowners insurance companies online, but you may be more comfortable calling insurance companies directly to ask questions. Once you have quotes, you can compare premiums, deductibles, amount of coverage and insurance ratings to select the best plan for you and your significant other.

Step 1

Create a grid to compare quotes. Label one column "homeowners insurance company" and other columns "premiums," "deductibles," "liability" and "multipolicy discount." Handwrite or create this table in Word or Excel. Each row will represent a different insurance company. Enter the information you receive in each row and column for final comparison.

Step 2

Decide how much homeowners coverage you will need for the major policy areas: dwelling, other structures, personal property, additional living expenses and liability. Review your current policy, use those numbers and adjust as necessary if this policy is for a new home.

Step 3

Visit websites that allow you to obtain free quotes from multiple insurance companies, such as InsWeb or NetQuote. These sites display information on plans that may be available to you after you input basic information and answer a few questions.

Step 4

Visit the websites of national homeowners insurance companies or call them to obtain quotes. By phone, representatives will walk you through a questionnaire, give you a quote and allow you to apply for insurance during the call.

Step 5

Input monthly premiums, deductibles, coverage levels and exclusions in your table to compare each plan side-by-side. Determine if you need earthquake or flood insurance, as these are typically excluded. Review your budget and narrow down the best plans.

Step 6

Review each insurance company’s rating on the A.M. Best website. Visit consumer forums to gauge customer feedback on the top plans you are considering. Factor this information in your final decision.

About the Author

Francine Richards is a licensed multi-state insurance agent with years of human resources and insurance industry experience. Her work has appeared on Blue Cross Blue Shield websites and newsletters, the Houston Chronicle and The Nest. Richards holds a Bachelor of Arts in communications from the University of Maryland.