This topic must be approached with great caution!!! Those shopping for home insurance most usually get involved in a self inflicted scam of shopping unlike products and end up making a final decision on something other than their goal!
It is very difficult to compare like coverage between insurance carriers; thus allowing a true similar comparison. Carriers sometimes offer different deductibles, different coverage limits and different endorsement options. Depending on the customer's needs, it is often that an important item goes unchecked in haste to complete the transaction.
We recommend shopping for insurance not more frequently than once every three years and taking at least an hour to go over the coverage in detail before making a change of carrier. In today's economy, there are clients that spend 10 - 15 minutes each and every year and simply contact someone after receiving an advertisement of a lower rate; the topic of coverage goes untouched and the client saves $20 over the prior carrier's premium. The truth will come out when there is a claim and the client questions why he/she didn't have the necessary coverage; please do not fall into this trap - it defies the purpose of purchasing the insurance coverage in the first place.
In some of these 'rush' cases, it is also possible that following an inspection of the property, the carrier legally makes necessary changes and the client ends up with a higher premium than what they originally had with the prior carrier. It is prudent to purchase insurance at least one month ahead of the desired effective date to give the new carrier time to order an inspection and send notice of any changes which the homeowner may decide against. This would also allow you time to pay your renewal and continue with the prior carrier.
The best recommendation in most parts of the United States is to try and find an insurance brokerage that represents a number of carriers; you should call and speak to a broker explaining exactly what you're looking for and supply a copy of your current policy for the broker to properly compare the coverage and endorsements and ask the broker to contact you if they can come up with a better offer without discounting any coverage.
In addition, you may wish to contact a couple of the National Captive carriers such as Allstate and State Farm and obtaining a comparison quote. This way, you can compare the work of a broker against the Captive agents of Allstate or State Farm making sure you have completed a concise and informed cycle of review.
For further information, you may contact http://www.HDAinsurance.com and one of our agents will be happy to answer your more specific questions!
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
The objective of purchasing a homeowner’s policy should be to protect you against an unsustainable loss. The most expensive homeowner’s policy is the one that is inadequate when a loss occurs. The cheapest homeowner’s policy is the one that pays what you expect it to pay. Many think that by shopping they will save money, where the real issue is level of protection and that is very difficult to shop for. Get an agent and trust the agent to do what is right for you.
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It is very difficult to compare like coverage between insurance carriers; thus allowing a true similar comparison. Carriers sometimes offer different deductibles, different coverage limits and different endorsement options. Depending on the customer's needs, it is often that an important item goes unchecked in haste to complete the transaction.
We recommend shopping for insurance not more frequently than once every three years and taking at least an hour to go over the coverage in detail before making a change of carrier. In today's economy, there are clients that spend 10 - 15 minutes each and every year and simply contact someone after receiving an advertisement of a lower rate; the topic of coverage goes untouched and the client saves $20 over the prior carrier's premium. The truth will come out when there is a claim and the client questions why he/she didn't have the necessary coverage; please do not fall into this trap - it defies the purpose of purchasing the insurance coverage in the first place.
In some of these 'rush' cases, it is also possible that following an inspection of the property, the carrier legally makes necessary changes and the client ends up with a higher premium than what they originally had with the prior carrier. It is prudent to purchase insurance at least one month ahead of the desired effective date to give the new carrier time to order an inspection and send notice of any changes which the homeowner may decide against. This would also allow you time to pay your renewal and continue with the prior carrier.
The best recommendation in most parts of the United States is to try and find an insurance brokerage that represents a number of carriers; you should call and speak to a broker explaining exactly what you're looking for and supply a copy of your current policy for the broker to properly compare the coverage and endorsements and ask the broker to contact you if they can come up with a better offer without discounting any coverage.
In addition, you may wish to contact a couple of the National Captive carriers such as Allstate and State Farm and obtaining a comparison quote. This way, you can compare the work of a broker against the Captive agents of Allstate or State Farm making sure you have completed a concise and informed cycle of review.
For further information, you may contact http://www.HDAinsurance.com and one of our agents will be happy to answer your more specific questions!