Home Security News

Shop Online for Good Home Insurance Prices

Homeowner's insurance is something you pretty much need to have.  Chances are you had to sign up for a policy just to get a mortgage from the bank (after all, they own your house until you have the loan paid off, and they don't want their asset burning down), but you might not have gotten the best rates then.  Or you might have remodeled (and improved the value of your home) or purchased a lot more items today that you want insured. 

It's important to keep your homeowners insurance up to date so you're covered in the event of an emergency.  At the same time, you don't want to pay more for your premium than you have to.  Fortunately, the Internet makes comparing quotes from different insurance companies a lot easier than it used to be.

There are lots of sites that can give you quotes.  One of them is InsureLog.com.

You can get quotes on just about every type of insurance there, and they are available for all states in the U.S.  They also have a specific page for home insurance quotes.  There you can get rate comparisons from several companies offering insurance in your area.  This allows you to get the coverage you need at the best rate possible.

The site also has numerous articles on homeowners insurance, so if you have questions it's a good place to browse.  For instance, did you know that having certain breeds of dog could affect your insurance rates?  Do you know if flooding is covered in your current policy?  Do you need homeowners' insurance if you live in a condo or townhouse?  All these questions are covered in articles on the Insure Log site, so check them out if you're shopping for better rates or just looking for information on the subject.

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Costly Home Insurance Mistake

When people buy a new home, they need to get homeowner's insurance, but many of them make a costly mistake. They insure their homes for the mortgage balance.

Why is this a mistake?  Because when you buy a house, you're buying the property underneath it. That property is still going to be yours if there is a hurricane, earthquake, or other natural disaster.  What you really need to cover is the cost of rebuilding your house and recovering your belonings.  Depending on where you live, you could be paying 100,000s just for the land.  That's not something you need to insure with homeowner's insurance. 

Remember, when you're shopping for home insurance, you just want to cover the home's market value, and don't worry about the indestructable land your house is perched upon.

Even if you already have an insurance policy where you paid for the land, it's not too late to change.  You can get quotes online from several insurers:

Get multiple Home Insurance quotes for free.

Home Insurance Quotes for Landlords

If you're a landlord of a house, numerous houses, or even an apartment complex, you know that you need insurance just as much as the renters do (well, probably more so... you have a lot more to lose if something happens to your rental properties).  But if you haven't taken a look at  your policy lately, you may be paying more than you have to. 

Today, the Internet makes it very easy to get quotes online, and they're specific to your zip code, too, so very pertinent to your needs.  One place you can go for quotes is Insure Me.  You just enter your zip code and that you are a landlord looking for quotes for your rental properties, and the site runs a search.  This is a pretty painless way to check and see if you're paying more than you need to be for insurance.

Insurance Quotes for Rental Properties

Make Sure to Shop Around for Lower Home Insurance Premiums

If you haven't thought about your homeowner's insurance policy in a while, chances are you need to take it out and give it a once over.  For one thing, you may need more insurance coverage if your property has gone up in value, as so many people's has over the real estate boom of the last few years.  Another reason to check it out is that you may be able to get lower rates today.

Thanks to the Internet, it's easier than every to shop around for the best rates on homeowner's insurance.  Sites like Insure Me allow you to comparison shop by zip code.  You can get rate quotes on insurance for your house, condo, or townhouse, and you can also get quotes on renter's insurance for apartments or houses.  It's an easy way to make sure you're not paying more than you should.

Home Insurance Quotes

Free Home Inventory Software

Part of learning about home security is learning that you need to prepare for the worst case scenario.  If you're robbed or something happens to your house (hurricane anyone?), you'll need to contact your insurance company, but the only way to make sure you get everything you're owed is to make sure your belongings are inventoried.  A home inventory is a must have.  How to take a Home Invetory recommends SAFE Plus Home Inventory Software, but now the Insurance Information Institute has a downloadable home inventory program available on their front page (free), so check it out if you haven't done an inventory of your belongings recently (or ever).

How to Reduce Home Insurance Costs

We all want to feel safe and protected in our homes, but none of us want to pay an arm and a leg for homeowners insurance.  A recent article from an online newspaper offers several tips for reducing your homeowners insurance rates.  Examples are raising your deductable, insuring just your home and not the land it's sitting on, adding a home security system, and bundling your home insurance policy with other insurance policies such as auto and life because you can typically get discounts this way.

Read Tips on Reducing Home Owner Insurance Costs for more information.

Renters Insurance--Why Renters Need Insurance, Too

A lot of renters either think they are covered by the building insurance of their apartment's owners, or just don't worry about renters insurance, thinking nothing will happen to them (yeah, that's smart).  Only 12% of renters have renters' insurance, says recent Yahoo! press release with monstrously long title "American Anxiety Is High -- But Few People Are Adequately Insured Against the Things They Fear Most."  Other recent news articles show why renters without insurance could lose everything they have.  Examples are Fire raises issue of renters’ insurance and Uninsured renters could get costly lesson.

These articles emphasize that renters, whether their belongings are stolen in a burglary or a fire breaks out in the building, are not covered by their landlord's insurance.  In some cases, you may owe tons if it was your accident that started the fire that wrecked the whole building... Renter's insurance can be as low as $10 a month, and can provide a lot of peace of mind.

You can get a free quote online from InsureMe.Com (just select the "home insurance quote" and you'll have the option to get renters insurance under there).

If you want to do a little more reading on renters insurance, check out Renter's Insurance: How to Get the Best Coverage for the Cheapest Price from Amazon.com (or the local library).

The Importance of Updating Your Home Insurance Policy

A recent article called appropriate "Updating Home Insurance Advised" takes a look at why updating your homeowners insurance from time to time is important.  Like a lot of things, we buy home insurance (often as much because we have to in order to get a loan as out of a real desire to spend that money every month) and then don't think about it until we need it.  It's important to realize that the insurance you bought a couple years ago might not be properly covering today's assets though.  Also, shopping around today may get you better rates than the ones that were available a few years back.  Take a look at this quote from the article and see if you're covering all bases:

According to the New York-based Insurance Information Institute, homeowners need enough insurance to cover the structure of their home; their personal possessions; the cost of additional living expenses if the home is damaged and they need to live somewhere else; and their liability to others.

If you're browsing online, you can visit insureme.com to shop and compare multiple home insurance quotes for free.

Barcode Scanner Makes Home Inventory Easy

You probably know you're supposed to keep a thorough record of all your assets in order to prove your losses in the event of a burglary or natural disaster--that's the only way you'll be properly recouped by your home insurance company. But... it can be a real pain to keep a record up to date, especially when you start adding up all the small but valuable things like CDs, DVDs, computer games, and books.

There are several software packages out there designed to help you with your home inventory, but only a few come with barcode scanners.  These handheld devices zap your belongings and automatically record them on your computer, showing both the name of the item and a short description. This makes it easy to keep track of what you own both for personal reasons and more importantly for home insurance reasons.

The Cordless Collector, put out by Intelli Innovatons, Inc., comes with home barcode scanner and software. You can get scanners that work with either USB or wireless Bluetooth technology. http://www.intellisw.com/intelliscanner/express/index.html

Home Insurance Not up to Date?

A recent CNN Money article starts off with "As many as three-quarters of U.S. homeowners are carrying insurance policies that don't cover replacement cost if a fire or storm levels their house, according to a study released in 2002 by Wisconsin construction-data firm Marshall & Swift/Boeckh." The article goes on to mention that 35% of homeowners insurance policies are undervalued, meaning you won't get what your house is worth if something happens. People think about insurance when they get their mortgages, but then never revisit their policies (until it's too late). Among other things, if you've done any remodeling, you need to take a look at your homeowners insurance policy because the home improvements probably increased the value of your house. Just the general appreciation of homes in your neighborhood, may mean you need more coverage.

If the idea of paying more for insurance rates daunts you, remember installing a home security system (or even doing something as simple as adding deadbolts and window locks) can help reduce your rates, not to mention protecting you from burglars.

Read more at Beef up your home insurance or get free homeowners insurance quotes online at InsureMe.com.

Homeowners Insurance Quotes Online

There are a number of places online where you can get homeowner's insurance quotes and compare rates. Both InsureMe.com and Netquote.com can give you quotes for homeowners insurance as well as auto, health, and others.

One thing you want to remember, if you have added a home security alarm system to your house (or even just replaced the builder's window and door locks with something sturdier), is that you may be able to bargain for a discount to your homeowners insurance policy. Because you have taken steps to make your home safer and less burglar-prone, you are less of a risk. This should be reflected in your rates. Just as adding a car alarm to your vehicle can drop your auto insurance a couple dollars a month, coming up with a security plan shows you are more responsible than the average homeowner.

Another way you can save money with homeowners insurance is to bundle your insurance policies. By getting auto and homeowners insurance from the same agent, you may be able to barter for a discount. Remember, you are the buyer, so the power is in your hands. Look for insurance companies who are willing to deal.

InsureMe.com
Netquote.com

Shopping Online for Homeowners Insurance

If it's been a while since you updated your home insurance policy, it may be time to shop around and see what's out there. The Internet gives you access to more insurers than simply haunting the local yellow pages, and that makes them highly competitive with each other (thus lowering the price on your end). If you think you're paying too much for homeowners' insurance, or you just want to see what's out there, now is the time to look around. Don't forget, renters need insurance, too. Your landlord may not cover you, or at least not to the extent you want.

Netquote.com offers quotes from various brick and online insurers for auto, home, life, business, and health insurance.

Home Insurance Forum

A homeowner's insurance forum where you can ask and receive answers about insurance,  who knew there was such a thing?

DoItYourself.com Community Forums > Homeowners Insurance 

Lowering Home Insurance Rates

MSN House and Home advises homeowners to get what they need in home insurance (without overpaying) by insuring the house instead of the land, shopping around and talking to at least 3 different insurers, and increasing the deductible (it's cheaper in the long run to pay for small damages out of pocket than calling on your home owner's insurance--this may cause rates to rise in response).

Related:

Cut Your Insurance Costs
Home Insurance Glossary

Guide to Homeowners Insurance

Homeowner's Insurance, everyone needs it, but how do you know if you've got enough? According to a survey by Marshall & Swift/Boeckh, 64% of homes in the United States are undersured by 27 %. Source The Armchair Millionaire's Guide to Homeowners Insurance suggests at the least you should "Get enough to cover your house...Get enough to cover your possessions...Get enough to cover your liability...[and]Get regular reviews." Their website goes into more depth on what each of those things entail, but in short, you should make sure your insurance fully covers you in the case of emergencies; you'll want not just enough to take care of partial damage for a roof for example (most damaged things need to be replaced in full, anyway) but the price of total replacement. Also, home insurance should be reviewed and updated from time time to ensure you still have adequate coverage.

Also check out Types of Homeowner's Insurance for information on what those pesky HO numbers mean.

Home Insurance Claims

Home insurance claims could end up costing you according to an article by the same name in the San Mateo County Times last week. Whether you've been burglarized or just had some water damage, you may want to consider the possible effects involved with filing a claim.  "Not only is it likely your rates will go up, your policy might not be renewed or might even be canceled, and it will be hard to find another carrier."  The article, however, suggests possible ways to avoid rate increases resulting from filing a claim or even reduce your current homeowner's insurance premium. It also advises what it's a good idea to file a claim over and what isn't worth it in the long run.

Read at Home insurance claims could end up costing you

Dogs vs. Home Insurance

Is your dog effecting your home insurance rates?

According to the American Kennel Club, some homeowner's insurance policies may refuse coverage or raise rates when they find out you have a dog. Applications can be denied based not only on whether or not you have a dog but what breed it is. The reason is because insurance policies have had to pay huge settlements in cases where dogs have bitten people.

Your options if you've been denied? Basically, keep shopping around. You'll find someone that will carry you, but unfortunately you may have to pay higher rates.

Further Resources:

Good dogs, bad dogs and homeowners insurance policies
Homeowners' Insurance and Dogs
Dogs & Homeowners Insurance

Is Your Home Business Covered?

Though you have homeowner's insurance, chances are your policy wasn't created with your home-based business in mind. Even if you're only working part time out of your home, in order to be protect against damage--and from lawsuits--you may need to look into additional coverage. Here are a few articles on the subject to help you decide if you need to talk to your insurance agent:

Is Your Home Business Properly Insured?
What your home insurance doesn't cover

Know What Your Homeowner's Insurance Usually Covers?

If you're wondering what the average homeowner's insurance policy covers, these articles can help:

What's Covered By A Typical Home Insurance Policy?
Types of Homeowner's Insurance (Do You Have What You Need?)

Take a look at your policy. It's important to know what is covered and what isn't. If your policy doesn't cover you for something that might happen in your area, you may be able to add on special coverage. For instance, most policies cover water damage, but they don't cover floods. Insurance is something you can't get after the threat is upon you, so make sure you're prepared.

Hurricanes & Homeowner's Insurance

A recent article at Kiplinger called "Shore up Your Home Insurance" discusses how the devestating hurricanes in the southeast could effect the home insurance business and what that means for rates for homeowners. Also covered are tips on how you can reduce your home insurance premiums.

Home Inventory, Have You Done Yours?

Hurricanes ravaging the Gulf remind us, among other things, the importance of homeowner's insurance, but insurance along may not be enough to recoup your material loses unless you've done a home inventory. Home inventories basically proove you have what you say you have.

In Home Inventory Software Helps With Home Insurance, we talked about using software to complete a home inventory. There are other ways of getting the job done. DV Memory is a company that does your home inventory for you. Home Insurance Necessity: How to Take a Home Inventory is an article that tells you how to do your own home inventory on the cheap. Wells Fargo provides a Home Inventory Checklist to let you know exactly what should be included.

Risk Assessment

Doing a risk assessment is one of the first steps to creating a home security plan and purchasing a home security system. Previously, I've mentioned how it may be possible to get a reduction of your home insurance rates by installing a home security system. However, your insurer may want to see not only that you have an alarm system and some reinforced locks, but a home security plan of some sort. After all, an alarm is no good if you don't remember to turn it on. Doing a plan, including a risk assessment of your home and neighborhood, shows you're responsible and serious about protecting your home and family.

Here are a few resources I found that explain what a home security risk assessment is and how to do one:

Home Security: Creating a Risk Assessment for Your Home
Home security starts with risk assessment

Homeowner's Insurance--Do You Have Enough?

Homeowner's insurance is a big part of home security, since your insurance will be what covers your expenses in the event of a theft or damage. A short article from Better Homes & Gardens briefly explains what to consider when purchasing insurance coverage for your home, such as whether or not "full coverage" really means full coverage.

Read: Do You Have Enough Insurance?

How Much Home Insurance Do You Need?

Yahoo! provides a calculator to help you estimate the amount of homeowner's insurance you need. State Farm has one for figuring Renter's Insurance.

Renter's Insurance Rate Quote
Homeowner's Insurance Rate Quote

Yahoo also has a number of articles and FAQs for renters and hone owners in their insurance section:

Home & Renters Insurance Center

Reducing Homeowner's Insurance Premiums

In an age where homeowner's insurance premiums seem to be increasing exponentially, you'll be happy to know there are some things you can do (yes, related to home security) that can actually reduce your rates without reducing the amount of coverage. By showing your insurance company that your house is more secure than average, you reduce your risk of being a victim of burglary, and therefore you reduce the insurance company's likelihood of having to cover your losses. You don't necessarily need to buy a big fancy home security system complete with fake barking dog in order to do this.

According to The Complete Idiot's Guide to Home Security, "Installing deadbolt locks, simple alarms, and smoke detectors" (p. 8) can save you 1-5% on your homeowner's insurance rates. If you combine car insurance and homeowner's insurance policies, you may also qualify for a 5-15% discount--sort of like buying in bulk.

Be sure to discuss these issues with your insurance agent and ask what you need to do to qualify for a discount due to improved home security in your house. If you get a blank look, let your agent know you'll be shopping around for insurance that is willing to reward you for your work at making your home less of a target for crime.

Related:
Types of Homeowner's Insurance (Do You Have What You Need?)
Getting good homeowners insurance--5 Tips: Shopping for homeowner's insurance.
Homeowner's Insurance Buying Tips

Home Inventory Software Helps With Home Insurance

A home inventory is a necessary inconvenience required by home insurance agencies (if you want any sort of compensation for stolen/damaged belongings that is). The best time to do a home inventory is right when you move into a new home; all your belongings are out and easy to document. There are several ways you can do an inventory: video, photo, written, or with software.

One of the advantages with software solutions is they offer easy fill-in-the-blank forms, and many of them can be integrated with your personal finance programs.

At the time of this writing, SAFE Home Inventory Software has solid 5-star reviews over at Amazon. If you're looking to go the software route, check it out:

Homeowner's Insurance Tips

An article from CNN acknowledges the rising prices of homeowner's insurance and the difficulties with getting a policy that covers all your needs. Writer Gerri Willis suggests shopping around, maintaining good credit, and other tips in this article:

Getting good homeowner's insurance

Saving on Homeowner's Insurance

According to Home Security: Your Guide to Protecting Your Family, installing a home security system can help lower your homeowner's insurance premiums. Fireproofing your house can also help: add smoke detectors (newer homes may qualify for discounts as they tend to be less of a fire hazard due to newer wires, etca).

The book also suggests grouping your policies (ie. car, homeowner's, expensive personal items--"riders", and additional liability) which may qualify you for up to a 15% discount.