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What is the best homeowners insurance to have?

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The best homeowner's insurance policy is not a particular type of policy, but rather a package of individual coverages tailored to one person and their family. Price is important, but having suitable coverage is vital, and balancing the two will take a little research and consideration.

One example might be if you own an older home. In order to repair or replace the home to its original condition, you are going to need a special type of homeowners insurance, an HO-8 policy. Compare prices on that type of policy using a website that provides free quote comparisons. These quotes can give you some insight into what your policy costs across the board, and they help you spot the companies which offer the best rate without skimping on the coverage you need.

You can get discounts on your home insurance if you purchase a policy with the same insurance company that provides you with other coverages, such as car insurance. There are quite a few discounts, based on things like where the home is located, your age and marital status. Larger homes will obviously cost more to insure, but you can still get discounts by having security equipment installed or putting up a fence.

Your CLUE report will influence your rates, similar to the effects of your credit score. Check both periodically and correct any errors you discover. You should also check with a ratings company such as the A. M. Best Company to find out how well the companies are doing financially, both now and their long term outlook.

The best insurance policy is going to differ from one person to the next, but you can compare policies designed around the information you provide. This is important unless you are certain that a "cookie cutter" homeowner's policy is going to cover your assets if tragedy strikes. Home insurance is much more than the value of the home, it is protecting your financial future.

answered Oct 29, 2012 by anonymous
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