2017 RANKING & REVIEWS
TOP RANKING BEST AFFORDABLE HOMEOWNERS INSURANCE
Introduction: How to Find Cheap Home Insurance and Cheap Homeowners Insurance Quotes
Making the decision to buying a home is most likely the biggest economic decision you will make during your life.
Taking out a 30-year mortgage and paying upward of half a million dollars with interest on your loan is an economic burden on anyone.
At the same time, owning your home will leave you with long-term equity and savings that will help stabilize you financially. Finding cheap homeowners insurance is an important and necessary step to protecting your investment.
Life brings all sorts of unexpected events. From an unanticipated tornado to a fire and from a 100 year flood to neighborhood vandals, the integrity of your home is always at risk.
Finding low-cost home insurance can help you rest assured that your investment is protected while not killing you financially. But how do you go about finding the best low-cost homeowners insurance?
Award Emblem: Top 5 Best Sites to Get Cheap Home Insurance Quotes
In this brief article, AdvisoryHQ will tell you all you need to know about finding and choosing the best inexpensive homeowners insurance. We begin by explaining what affordable home insurance is before offering a comparative table of the top five websites to help you find cheap homeowners insurance quotes.
In our FAQ section, we explain why cheap home insurance companies are able to offer low-cost home insurance. We also offer advice on what features to look for when choosing the best low-cost homeowners insurance.
Finally, we give you a complete review of the top five websites to help you find the best cheap homeowners insurance quotes to protect your home for the long run.
What Is Affordable Home Insurance?
Finding affordable homeowners insurance is obviously important for everyone, but what exactly is homeowners insurance and what does it cover?
Low-cost homeowners insurance is a way to protect your home from unexpected damage or destruction that is caused by factors outside of your control. It also is a form of liability insurance in that it protects you and your family members from any sort of lawsuit that other people could bring against you in the case of harm they suffered while on your property.
According to iii.org, “homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets.”
Image Source: Low-cost Home Insurance
While you are not required to buy low-cost home insurance (like you are with a car, for example), it certainly is a good way to protect your investment. Furthermore, if you take out a sizeable mortgage, chances are that the lending institution or bank you received the mortgage from will require you to purchase some form of affordable homeowners insurance.
Furthermore, while each and every cheap home insurance policy covers different things, almost all affordable home insurance plans cover the structure of your home. This means that the cheap home insurance plan that you decide on will pay to repair or rebuild your home in the event of damage caused by fire, hurricane, hail, lightning, or other disasters.
AdvisoryHQ’s List of the Top 6 Cheap Homeowners Insurance Quotes
List is sorted alphabetically (click any of the inexpensive homeowners insurance names below to go directly to the detailed review section for that low-cost home insurance):
Top 5 Best Affordable Homeowners Insurance | Brief Comparison & Ranking
Top Affordable Homeowners Insurance
Free or Paid Quote?
|Confused.com||Free||United Kingdom||Takes an estimated 8 minutes to get a quote|
|GEICO||Free||U.S.A.||Can get a variety of discounts through improving the safety features in your home|
|Home Insurance Web||Free||U.S.A.||Can also search for renter’s insurance|
|Moneysupermarket.com||Free||United Kingdom||Average savings of 75 pounds|
|QuoteWizard||Free||U.S.A.||Only one simple form to fill out|
Why Do Some Cheap Home Insurance Companies Offer More Affordable Home Insurance?
Why is it that some insurance companies are so much more expensive than others, you might ask? The market for affordable home insurance is highly competitive and costs are being driven down all the time.
To find cheap home insurance, the most important step is to take the time to compare your options. Many times, the bank that is offering you a mortgage will require you to have a basic form of cheap home insurance that covers your home for hazard insurance.
These banks may very well suggest certain insurance carriers for that coverage. However, you almost always can find cheaper coverage by not taking the bank’s advice or suggestions and searching on your own.
Lastly, finding cheap homeowners insurance quotes will require you to look closely at what each company is offering. Some cheap home insurance companies may offer very inexpensive insurance that offers very limited protections while other companies will cover you for pretty much everything.
It’s important to find a balance that will give you affordable homeowners insurance with decent coverage for real risks that exist in your area.
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What to Look for in Cheap Homeowners Insurance
Obviously, not all cheap home insurance policies will offer the same sort of coverage. It is often the case that the less you pay, the less coverage you will receive. Knowing what to look for in cheap homeowners insurance quotes is a great way to find the most affordable home insurance for you and your family.
For example, if you live on a mountain ridge, the chances of your home being damaged by flooding are slim to none. Furthermore, if you live in the upper peninsula of Michigan where the last tornado occurred several decades ago, you probably don’t need cheap home insurance that offers tornado protection.
Below, we offer three suggestions for what to look for in cheap home insurance to get quality coverage at a decent price.
All perils versus named perils:
The more expensive homeowners insurance policies are usually called “all perils,” meaning that your home is protected against every and any type of cause of loss. To find more affordable homeowners insurance, you can choose a named perils policy where you get to determine what types of perils your insurance will protect against.
While a fire can occur anywhere, if you live in a safe neighborhood, you might want to decide against being protected against theft. Similarly, if you live in Kansas, inexpensive homeowners insurance might mean that you choose against hurricane protection.
Most banks and lenders will require you to get at least hazard insurance, which just protects your home against fires. If you are looking for the most affordable homeowners insurance policy, then hazard insurance might be the way to go. However, you won’t be protected against water damage, windstorms, burglary, and other risks.
Find out if other structures are covered:
Some affordable home insurance policies will also offer coverage for other structures on your land such as a detached garage, a tool shed, a swimming pool, etc. If you are looking for the most low-cost homeowners insurance, then you should search for policies that don’t cover other structures on your property.
AdvisoryHQ’s Selection Methodology
What methodology does AdvisoryHQ use in selecting and finalizing the credit cards, financial products, firms, services, and products that are ranked on its various top rated lists?
Please click here “AdvisoryHQ’s Ranking Methodologies” for a detailed review of AdvisoryHQ’s selection methodologies for ranking top rated credit cards, financial accounts, firms, products, and services.
Detailed Review – Top Ranking Cheap Home Insurance
Below, please find the detailed review of each low-cost homeowners insurance. We have highlighted some of the factors that allowed these cheap home insurance companies to score so highly in our selection ranking.
One of the best websites for people living in the United Kingdom is Confused.com. This website will offer multiple cheap homeowners insurance quotes while also getting you information on steps you can take to lower the cost that you pay.
Image Source: Confused.com
The GEICO website won’t offer you cheap homeowners insurance quotes from different providers. However, as one of the leaders in the insurance industry, the quotes that they provide will give you a good idea of what the going rates are for your region.
Image Source: GEICO
Home Insurance Web Review
Home Insurance Web is another website offering quality cheap homeowners insurance quotes. To get your quote from multiple providers, you simply need to provide your zip code and choose between renters insurance or home insurance. You will also have to fill out an online form with information on your type of home.
Image Source: Home Insurance Web
One of the unique features of this home insurance comparison website is that it gives you the option to include or deny certain types of coverage so that you can get a custom quote for your personal home situation.
For people who live in the United Kingdom, Moneysupermarket.com will help you find the best cheap homeowners insurance quotes on the market.
According to their website, over half of people using their website saved upwards of 75 pounds. You will have to provide detailed information about your property, who lives there, the number of large trees near you home and other such information.
Image Source: Money Super Market
QuoteWizard is a quality website to help you find the most affordable home insurance on the market.
Image Source: QuoteWizard
With this website, all you need to do is fill out one simple form with details on your property and the area where you live. They will give you several cheap homeowners insurance quotes from different insurance providers for you to choose from.
Conclusion – How to Find Cheap Homeowners Insurance Quotes to Save You Money
If you have had the privilege to have bought a home, you owe it to yourself and to your family to find cheap homeowners insurance to protect the home that will hold so many family memories. In fact, finding, choosing, and purchasing inexpensive homeowners insurance should be one of the first things you do after getting in to your new home.
Even if you feel like you don’t have a lot of extra income, there are a number of cheap home insurance companies offering low-cost homeowners insurance. You don’t have to break the bank in order to find quality affordable home insurance.
The five websites that we have reviewed above will help you get the best cheap homeowners insurance quotes to find cheap home insurance that fits your budget while still protecting your investment.
Whether you choose Confused.com, GEICO, Home Insurance Web, Moneysupermarket.com, QuoteWizard, or any other company offering quality and affordable home insurance, you can rest assured that your home investment is well protected while also saving thousands of dollars over the long run.
AdvisoryHQ (AHQ) Disclaimer:
Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.
Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. Click to view AdvisoryHQ's advertiser disclosures.