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Homeowners Insurance

We offer flexible payment plans to fit any budget needs.

We offer flexible payment plans to fit any budget needs.

We've helped over 60,000 customers buy more affordable insurance coverage.

We've helped over 60,000 customers buy more affordable insurance coverage.

We shop your coverage with up to 35 national carriers.

We shop your coverage with up to 35 national carriers.

We shop your personal insurance to save you time and money.

What is Homeowners Insurance?

Your home should be a safe and private place. Unfortunately, that is not always the case, threats like severe weather, fire and theft are risks to us all. It is the goal of homeowners insurance to help you recover after a loss; to feel secure and whole again. Your home is also an investment, and like any investment, you need to care for it and protect it from all types of loss risks.

Homeowners insurance is comprised of four types of coverages, and can be customized to include more specific coverages applying to your home.

Dwelling coverage generally covers the physical structure of your home, paying for rebuilding or repair if damaged is caused by a covered peril. All homeowners policies will differ, considering geographic region and state regulations, but will generally offer coverage for the following events:

  • Fire/smoke.
  • Lightning strikes.
  • Windstorms.
  • Hail.
  • Explosion.
  • Vandalism.
  • Theft.
  • Damage caused by the weight of snow, sleet or ice.
  • Falling objects.
  • Damage from an aircraft.
  • Damage from a motor vehicle.

A dwelling is defined as the structure in which you live, as well as other structures that are attached to it, such as a garage or deck. Some exclusions to dwelling coverage include coverage for flood, earthquake and sewer back-ups (damaged caused from poor or no maintenance). Other structure coverage will cover unattached structures, such as tool sheds and detached garages.

Personal property coverage is included to insure all your belongings inside your dwelling and other structures. There are two types of personal property coverage: those that reimburse you for the replacement cost for an item, and those that pay for its actual cash value. A replacement cost policy typically pays the dollar amount it will take to buy a new item at the time of a claim. An actual cash value policy provides coverage based on the current value of an item. It’s also important to know that personal property coverage usually has certain limits on what it will pay to replace an item or category of items.

Liability coverage is the fourth included coverage in most homeowners policies. It protects homeowners when liable for third-party bodily injury or property damage. It generally will pay for legal expenses, injured party’s medical bills and lost wages as well as costs of repairing accidental damage to a third-party’s property.

In addition to the above coverages, many carriers also offer optional and extended coverages to further cover your home and property. It is also common for homeowners to purchase a personal umbrella policy to raise coverage on your liability claims.

Homeowners insurance can be bought for any type of home such as a condominium or mobile home.

Find your lowest personal insurance rates.

Find your lowest
homeowners rates

We take the time to access your home and personal property coverage needs before getting to work finding the lowest rates available.

  • National homeowners specialists.
  • Licensed throughout the United States.
  • We insure mobile homes, condominiums, houses and more.
Compare quotes from over 35 carriers.

Compare quotes
from over 35 carriers

Once we've got your best quotes back from our carriers, we take the time to help you understand your options and take the next steps to get you covered quickly.

  • Easy claim reporting and change requests.
  • Discounts available through many carriers.
  • We continue to follow up after binding; our service to you never ends.

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Homeowners Insurance
We shop your personal insurance to save you time and money.

Why do I need Homeowners Insurance?

Unlike driving a car, you can legally own a home without homeowners insurance. However, if you finance your home with a mortgage, your lender most likely will require you to have home insurance coverage to protect your home in case of damage cause by unforeseen circumstances, such as fires or natural disasters. If you choose not to insure your home you are risking losing all personal assets should an event occur. The average claim is approximately $10,000, but lawsuits and liability costs could add up to hundreds of thousands of dollars.

What does Homeowners Insurance Cost?

Homeowners insurance premiums are calculated by a number of variables such as age of home and geographic location. Like auto insurance, homeowners can be purchased for a low rate, but with very little coverage. Essentially, your premium will be based on how much it takes to cover you home and property. For example, a homeowner in rural South Carolina will likely pay less for his policy than someone in New York City, as there are more risks associated with city dwellings than with rural.

The following factors can affect your homeowners insurance premium:

  • Claim history. If you have a history of claims on a homeowners policy the insurance carrier will rate you as higher risk for additional claims.
  • Home features and characteristics. Factors like your home’s age, building materials, roof condition, foundation type (slab or basement) and more such as swimming pools and dog breeds can affect your premium.
  • Location. Where your home is located will determine some favorable and some not favorable evaluations. How close you are to emergency services could lower your rate, but if your area is prone to severe weather, such as tornados, your rate will increase.
  • Protective devices. Alarm systems, smoke detectors, fire extinguishers and other types of protective and preventative methods will positively affect your rate.
  • Personal factors. Insurance carriers will also look at the homeowner for exposures. Smokers, for instance, may pay more as their risk for fire is higher than those who do not smoke. Your credit, limits and chose deductibles will also affect your rate.

That being said, in 2014 the national average homeowners insurance premium was $1,132, as reported by the Insurance Information Institute (III).

What are Common Homeowners Claims?

If you are looking for how to file a claim, please visit our Client Services.

According to the Insurance Information Institute (III), 5.3 percent of insured homes made claims in 2014. 97.3 percent of those were property damage claims, which include theft. These statistics will fluctuate by year, depending on naturally occurring events, like hurricanes in the southeast and fires in the west United States. However, frequency of claims is only half of the pertinent information, it’s the severity of these claims that demonstrate more clearly the need to insure your home.

How do I Reduce my Risk?

Reducing your homeowner risks can be as simple as cleaning your gutters and installing a security system. Incidentally, reducing your risks of loss around your home and property will also lower your homeowners insurance premium. The following are some starting tips for securing your home and getting better rates:

Before hitting the road:

  1. Reinforce your home.There are numerous ways to improve or modify your home to reduce the chances and damage of events such as fire or water damage. Storm shutters, reinforced roofs and drainage improvements are just a few ways of reinforcing your home and lowering rates. While some modifications can be pricey, they are investments which increase the value of your home and, more importantly, the safety of your home.
  2. Maintain your home. Liability lawsuits and large claims can be avoided by keeping up with routine maintenance such as cleaning air filters, removing dead tree limbs and removing ice and snow from your driveway and sidewalks.
  3. Improve home security. Taking preventative measures, such as installing burglar alarms and deadbolts, will help you sleep better, and may even lower premiums.
  4. Know your specific risks Working with a qualified expert to identify all the ways in which you could experience loss is extremely important. For example, if you own a dog that the insurance carrier types as “aggressive,” you will get a rate increase. Extras around your home, such as trampolines, pools and tree houses, are considered risky as well. According to the Consumer Product Safety Commission, there were over 100,000 emergency room visits related to a trampoline in 2014.

Frequently Asked Questions

  1. Is homeowners insurance required?
  2. Not typically by the state, however mortgage lenders typically DO. Check with an insurance specialist before determining if you need insurance or not.

  3. Why is homeowners insurance important?
  4. If you’re insured, any significant repairs or rebuilding after a disaster can potentially be covered by your insurance policy, up to your set limits.
    If you owe money on your mortgage and your home is completely destroyed, you will still be required to pay your home loan, unless you have adequate homeowners insurance. Homeowners insurance can help pay for the rebuilding cost. If you insure your house at full replacement cost value, you will have the means to fully rebuild, if needed.
    Liability coverage is arguably the most important aspect of homeowners insurance. If something happens to a visitor on your property, your liability coverage can cover that person’s medical costs, as well as your legal fees if you are sued. Lawsuits are expensive and hiring a lawyer can cost thousands of dollars. If you’re found responsible, you could be ordered to pay large sums of money in a personal injury suit, a cost that can be offset by your liability coverage.

  5. When should I get homeowners insurance?
  6. You should purchase your coverage before going to a mortgage company for a loan. The timing can be tricky, but with the right insurance agent, you’ll be prepared and fully covered.

  7. What if I rent? Or own a mobile home or condominium?
  8. Renters can purchase renters insurance, which protects personal property. If you own a condo or mobile home, any type of home really, you can, and should, purchase homeowners insurance.

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Whether you are looking for the best coverage or to save more money over your current policy, our fast and friendly service staff is always here to help. As we work with numerous carriers across the United States we can offer more products at the best competitive rates. We at The Insurance Shop don't stop there, we also have a highly trained and experienced customer service team who guide and support you both before and after you've obtained your coverage.

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