Home Insurance Quotes Tips

 1. If you’ve been with a particular homeowners’ company for several years, you should receive a discount for being a “long term” customer. Some companies give 5 to 10% discounts if you remain a customer for a certain length of time. Also, you have more credibility if you stay with a homeowners’ insurer and then have a loss. The insurer knows you and your record, and if you haven’t had many claims and have paid your premiums on time, your rates will likely not increase as substantially after the event. On the other hand, compare premiums for the same coverage with other companies. Even if you’re long term customer, you may be able to do substantially better with another company.

 2. Some insurance companies provide homeowners’ insurance specifically designed for older homes and antique homes. However, the coverage is generally more expensive as the replacement costs are harder to determine. For instance, if your 1700’s post-and-beam home is damaged in a storm, replacing it will be expensive because of the specialized labor and materials needed to put the home back into its original state. Finding insurance may also be difficult if your home is not officially listed in your town’s registry of historic homes – sometimes a prerequisite for getting this specialized policy.

What you can do. If your home is in a historic district, check with the town to see who insures other homes in your neighborhood. Also check with other homeowners in your area to see who they use for their coverage. A great resource is the National Trust for Historic Preservation who may be able to assist with insurance questions and policies. You will probably end up weighing the pros and cons of paying top dollar for true replacement costs on your policy and the importance you place on your home. If it’s an historic home, it may be worth the cost. However, If it’s merely an “older” home, but not “historic,” you may want to opt for a regular homeowners’ policy to save money.