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Home Insurance Quotes with SelectQuote
In its simplest form, home insurance is financial protection in the case your home is damaged or destroyed, but comparing coverage and rates from multiple carriers can be overwhelming and time consuming. At SelectQuote, we’ll take the time to learn what you’re looking for and compare home insurance quotes from some of the most trusted insurance companies in just minutes. We can also answer any questions you have, match you with the best home insurance company for your needs, and find opportunities to try and save you money—our customers save an average of $397 per year on home insurance.*
Types of Home Insurance Coverage
There are four basic types of home insurance coverage:
| Type of Homeowners Insurance Coverage | What This Coverage Protects... |
|---|---|
| Dwelling | Dwelling coverage is a main component of a home insurance policy that can help pay to repair or rebuild the physical structure of your home in the event of a loss in which you have no control, including fire, wind, theft, and vandalism. It can also cover garages and other detached structures on your property. |
| Personal Property Coverage | Personal property insurance coverage can cover belongings such as furniture, clothing, sporting goods or electronics, in the event of a covered loss (whether they get damaged at your home, apartment or anywhere else). |
| Personal Liability | Personal liability insurance is financial protection for you and your family and provides coverage for bodily injury and property damage sustained by others for which you or covered residents of your household are legally responsible. |
| Loss of Use & Additional Living Expenses | This type of coverage will pay for your lodging, meals, animal boarding and other expenses (up to a limit) in the event that you are unable to stay in your home due to a natural disaster or other unpredictable events over which you have no control. |
Types of Homeowners Insurance Coverage
Dwelling
What This Coverage Protects…
Dwelling coverage is a main component of a home insurance policy that can help pay to repair or rebuild the physical structure of your home in the event of a loss in which you have no control, including fire, wind, theft, and vandalism. It can also cover garages and other detached structures on your property.
Personal Property Coverage
What This Coverage Protects…
Personal property insurance coverage can cover belongings such as furniture, clothing, sporting goods or electronics, in the event of a covered loss (whether they get damaged at your home, apartment or anywhere else).
Personal Liability
What This Coverage Protects…
Personal liability insurance is financial protection for you and your family and provides coverage for bodily injury and property damage sustained by others for which you or covered residents of your household are legally responsible.
Loss of Use & Additional Living Expenses
What This Coverage Protects…
This type of coverage will pay for your lodging, meals, animal boarding and other expenses (up to a limit) in the event that you are unable to stay in your home due to a natural disaster or other unpredictable events over which you have no control.
What Home Insurance Doesn’t Cover
While homeowners insurance varies from state-to-state and person-to-person, most standard homeowners insurance policies don’t cover damage from natural disasters such as:
Earthquakes
Tornadoes
Floods
Additional Coverage Options to Consider
There are a number of instances in which your home insurance might not cover the costs of replacements or repairs, and you may need to consider additional coverage to fill in the gaps from your policy.
- Umbrella Insurance
- Flood Insurance
- Insurance for condos
- Renters insurance
- Motorcycle Insurance
- ATV Insurance
- Boat Insurance
- Earthquake Insurance
Umbrella Insurance
Flood Insurance
Insurance for condos
Renters insurance
Motorcycle Insurance
ATV Insurance
Boat Insurance
Earthquake Insurance
How to Buy Homeowners Insurance
1. Decide your coverage.
Evaluate the replacement cost of your home, making sure all of your valuables and possessions are covered. Working with SelectQuote will help ensure that you are getting the coverage you need to protect what matters most.
2. Choose a deductible amount.
Your deductible is the amount you pay before any claim is covered. Choosing a lower or higher deductible amount depends on your situation, but SelectQuote can help decide whether a higher or lower deductible amount is best for your needs.
3. Let SelectQuote do the work.
Instead of shopping rates from dozens of carriers by yourself, SelectQuote can shop highly-rated insurance carriers on your behalf in just minutes.* This can often save you time, money, and stress when it comes to securing an affordable home insurance policy.
Compare Free Homeowners Insurance Quotes Today
Getting a free home insurance quote is as easy as getting connected with SelectQuote. We’ll ask you for more information on your home and get to know more about your needs, ensuring we’re looking for the kind of coverage that’s right for you.
How much does home insurance cost?
The average home insurance cost is almost $1,200 a year, according to the National Association of Insurance Commissioners. Average home insurance rates vary by state and the amount of insurance purchased. Rates are based on many factors such as the age of your home, where you live, updates to your house and many other factors.
The State You Live In May Impact Cost of Home Insurance
The city and state in which you live can often play a role in your home insurance rates. Rates can be determined by the likelihood of claims based on similar homes in your area or region. Home insurance policies also consider population, crime rates, weather patterns and your proximity to public services such as fire or police departments.
Home Insurance FAQs
How much home insurance do I need?
In every case, you want the limits on your policy to be high enough to cover the cost of rebuilding your home. Standard homeowners policies provide coverage for disasters such as damage due to fire, lightning, hail and explosions, but those who live in areas where there is risk of flooding or earthquake will need coverage for those disasters as well.
The price you paid for your home—or the current market price—may be more or less than the cost to rebuild. And if the limit of your insurance policy is based on your mortgage (as some banks require), it may not adequately cover the cost of rebuilding.
Is home insurance tax deductible?
While your homeowners insurance premiums may be included in your property payments, they are considered nondeductible expenses according to the Internal Revenue Service (IRS). That means you unfortunately cannot itemize any payments for home insurance—including fire, theft and comprehensive coverage; nor title insurance as deductions—on your tax return.
Is home insurance required?
Home insurance isn’t required by law, but if you have a mortgage on your house, most mortgage lenders will require proof of home insurance before you take out a home loan.
How does home insurance work?
Home insurance provides protection for your home and possessions, helping with restorations or repairs if damage or loss occurs. Many home insurance policies will protect you from unexpected events, from damage from basic weather to theft.
How to file a home insurance claim
There are five steps to filing a home insurance claim:
- Call the police if necessary: Certain types of claims, such as theft or vandalism, will require a police report.
- Document everything you can: Take photos and videos of the aftermath to provide documented proof to your home insurance company. If there was an injury or damage to your property, document as much as you can—the date, time, and details of the incident as it will make the claims process go smoother.
- Call your home insurance company:
You’ll want to ask the following items about your home insurance policy:
- Your level of insurance coverage
- The amount of time you have to file a claim
- Whether the claim exceeds the deductible
- Arrange a visit from an insurance adjuster: Your homeowners insurance company will likely provide an insurance adjuster to come and inspect your home. The adjuster will inspect the damage and help determine what the insurance company could pay for the loss.
- Consider making temporary home repairs: If you have damage that could make your home unlivable, consider making the repairs early to prevent further damage. Keep the receipts for every repair you make in the meantime so that you can submit them to your insurance company for reimbursement.
Learn More About Home Insurance with SelectQuote
Whether you’re looking for more information about different types of homeowners insurance coverage like umbrella insurance or you’re interested in determining your needs through our coverage quiz, we’ve got you covered. We have the experience and knowledge to help answer your questions. Check out our home insurance articles to learn more.
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Still have questions? SelectQuote can help.
We make shopping for home insurance easy, in just minutes we can provide you with home insurance quotes and help you determine what policy is right for your situation.
Call now at 855-226-2992.
