How can I find a cheap home insurance quote?

The cheapness of the home insurance quotes you will receive depends on a number of factors. Depending on the location and worth of your home and your belongings, you can get home insurance for as little as $400 a year, but you may also not be able to find a quote cheaper than $1,400 per annum, no matter what cash-saving techniques you apply.

In states such as Wisconsin, Utah, Maine, Ohio and Idaho, where home insurance is cheaper than the national average (which is around $800), price is usually not such a delicate issue when looking for the best home insurance quote. There are states, however, where finding a cheap home insurance quote is a tough mission requiring months of research.

Home owners living in high-risk areas exposed to natural disasters pay some of the highest home insurance premiums nationwide, and some of them may not even be able to purchase any insurance protection for their homes because of the likelihood of natural disasters. A lot of home insurance companies, for example, withdrew from Louisiana after Hurricane Katrina battered New Orleans.

Similarly, because Florida suffers the devastating consequences of the hurricane season, which hits the south-eastern coast of America every summer, some home owners have to pay exorbitant premiums to have their property insured. The same applies to the states of Texas, California, Mississippi, to name just a few.

Tips for Finding the Cheapest Home Insurance Quote

As illustrated above, cheapness is relative when it comes to home insurance. What is considered cheap in one state may be considered expensive in another. This is why, knowing the average annual home insurance premium is very important: measuring all the quotes you obtain against the state’s average will give you a relative idea what a good-price policy is. From then you can go on to apply the following money-saving tips:

• Rule of thumb when looking for home insurance is to make sure all the perils your home is exposed to, are covered under the policy. Compare each home insurance quote according to coverage, exclusions, and riders available. You should get adequate coverage for a fair price.

• Use all the discounts that your insurance provider may offer. You can save a substantial amount of cash in home insurance premiums if you qualify for the insurance company’s discounts.

• Never file a minor claim, otherwise you risk losing your policy.

Read article on the InsuranceQnA Site

 

Your home is the center of your daily life, and likely your most valuable asset. When your home is damaged or destroyed, you need your claim settled by an insurance company that understands this simple fact.  Statewide Insurance Agency can help you find the homeowner’s insurance quotes that will best meet your needs and provide the most valuable combination of tailored coverage, quality service and fair pricing.

Insurance Quotes for All Kinds of Homes

Depending on where you live – a house, apartment, or condominium – the right home insurance policy can provide you peace of mind as well as the money you need to repair or replace your home and/or belongings. Contact us for more information today! 

Oklahoma– What you need to know about homeowners insurance

Whether you own or rent, insuring the place you call home can help protect you financially if you suffer a loss due to fire, theft, vandalism, or other covered events. It will also cover you in the event someone is injured while on your property and wins a legal judgment against you.

Homeowners policies differ by which losses are covered, which coverages you choose, and what type of residence you own. You choose which policy is best for you, whether it’s a comprehensive policy that cover losses such as fire, hail, smoke, falling objects, vandalism and theft of personal property, or whether it’s a policy that covers only specified losses.

Statewide Insurance Agency is here to help you find the right insurance for your home

Whether you’re a home or condo owner, a renter, or a landlord,  Statewide Insurance Agency will work with you to find a home insurance quote that fits your needs. We specialize in making it easy to choose the home insurance coverage that gives you the best value for the best price.

Your home insurance policy is most often made up of the specific options you choose, so how much you’ll pay for your policy depends on:

  • What you select. Oftentimes homeowners insurance options are priced individually, so how much you’ll pay for your policy depends on what coverages you buy.
  • How much you want to cover. Higher deductibles usually lower your premium price by shifting part of the loss payment to you. For example, if you had a $500 deductible, you would be responsible for paying the first $500 of the covered loss.
  • Where you set your limits. You may choose to set higher limits than the recommended amount if appropriate to your situation and needs.
    • Worried you aren’t completely covered? Consider an umbrella insurance policy that extends your coverage. 

The Right Coverage. The Right Price. The Right Value

The amount you pay for your homeowners insurance depends on many factors. Think of your personal housing situation, and the assets you want to protect.

Protection for Your Home

Property or Dwelling Coverage typically pays to repair or rebuild your home if it’s damaged or destroyed by an insured event like a kitchen fire or windstorm.

Protection for You and Other People

Personal Liability Coverage applies if someone is injured or their property is damaged and you are to blame. The coverage generally applies anywhere in the world.

  • When choosing your liability coverage limits, consider things like how much money you make and the assets you own. Your personal liability coverage should be high enough to protect your assets if you are sued.

Medical Coverage

This covers medical expenses for guests if they are injured on your property, and in certain cases covers people who are injured off of your property. It does not cover health care costs for you or other members of your household.

Additional Living Expenses

If you can’t live in your home because of a covered loss, your home insurance policy will pay additional living expenses—commonly for up to 24 months—while damage is assessed and your home is repaired or rebuilt.

Protection for Your Belongings

Your home is filled with furniture, clothes, electronics and other items that mean a lot to you. Personal Property Insurance helps replace these items if they are lost, stolen or destroyed as a result of a covered loss.

Scheduled Personal Property Coverage

If you have special possessions such as jewelry, art, antiques or collectibles you may want to talk to your agent about this additional coverage. It provides broader coverage for specific items.

If You Rent Out Your Home

Landlords may have the option to buy optional liability coverage for the risks posed by tenant-occupied dwellings. Visit our Landlord Protection Insurance page for more information.

Edmond, Guthrie, Oklahoma City, Yukon, Midwest City, Choctaw, Moore and Norman – Protect the Things that Matter to You

Make an inventory of your home and personal belongings. If possible, make a list as well as take photos or video – using two inventory methods can help expedite the claim resolution process. Keep this list somewhere other than your home. Keep in mind that your policy doesn’t cover damages caused by poor or deferred maintenance on your part.

Every home is unique – talk to us today to find out how to get the best price and value on homeowners insurance for you. 

 

 

Pursuing Home Insurance Solutions

Quality home insurance in Oklahoma doesn’t have to break your bank account. We offer top quality homeowner and car insurance products and, our ability to quote multiple companies, ensures you get a solid price. Moreover, we will monitor your policy at each renewal to take advantage of any company changes that impact your policy.

Statewide Insurance Agency continues to place a high value in our relationship with Safeco Insurance (a wholly owned subsidiary of Liberty Mutual Insurance) to provide our customers with long term value on their Oklahoma home insurance and their Oklahoma auto insurance.  

Cheap home insurance rates in Oklahoma aren’t enough!  Oklahoma home insurance companies also have to provide consumers with a long term value package that includes excellent coverages and great agency service to go with the low home insurance rates and low car insurance rates.  Today’s consumers are well-read and able to compare home insurance quotes from several companies in a short amount of time.  These high demands eliminate many home insurance companies in Oklahoma from being able to offer long term insurance value.  Safeco Insurance is a company that we trust and believe you can too.  Here a few facts about Safeco…. 

THEY MAKE HOME INSURANCE EASY FOR HOMEOWNERS IN OKLAHOMA
Safeco offers 24/7 claims service and online account management tools.

ALL THE PRODUCTS EDMOND HOMEOWNERS NEED IN ONE PLACE.
Auto, home, motorcycle, boat, RV…you name it, chances are Safeco covers it.

LOCAL AGENTS, EXPERT ADVICE.
You’ll work with a local home insurance agent, like me, to get the coverage and home insurance quote you need at the right price.

THEY’LL BE THERE.
Safeco has been in business since 1923 and is backed by the financial strength of Liberty Mutual.

Homeowners claims related to wind or hail are the most frequent; the costliest are related to fire and lightning.

About one in 15 insured homes has a claim each year.
About one in 35 insured homes has a property damage claim related to wind or hail each year.
About one in 50 insured homes has a property damage claim caused by water damage or freezing each year.
About one in 235 insured homes has a property damage claim due to theft each year.
About one in 290 insured homes has a property damage claim related to fire and lightning.
About one in 1,015 homeowners policies has a liability claim related to the cost of lawsuits for bodily injury or property damage that the policyholder or family members cause to others.

By Insurance Information Institute

Insuring A Vacation Home

A vacation home can be a wonderful luxury and sometimes even a good investment, but there are some important factors to consider before making the leap into second-home ownership—such as insurance costs. Just like your primary home, you’ll need to insure your vacation home against burglary, fire, weather damage, liability and other risks. Because insurance can add significantly to the price of buying and owning a vacation home, you may want to consider the likely insurance costs before deciding on a specific property.

Key Factors Impacting Vacation Home Insurance Costs

For a number of reasons, insurance for a vacation home can be more expensive than the coverage on your primary residence. Notably, your second home may often be unoccupied, putting it at greater risk for theft, vandalism and undetected damage, like burst water pipes. When you shop for a vacation home, it’s important to recognize that the following factors will impact your insurance costs:

Location—The location of any home is always a factor in pricing insurance policies, but it can be especially significant for vacation homes. The very location that makes a vacation home desirable may also make it more expensive to insure. For instance, a ski house or hunting lodge in a remote or mountainous area could be at greater risk for damage due to wildfire. A beach house may be more exposed to wind damage or storm surge from a hurricane. These location-based risks will impact the price of coverage, and in some cases may even incur higher deductibles.

In addition, if the home is located in a flood zone, you’ll be required to purchase a separate flood insurance policy. Flood damage is not covered by standard homeowners insurance policies, but coverage is available from the National Flood Insurance Program (NFIP) and from some private insurance companies. The cost of NFIP flood insurance for second homes has been increasing and there are also special surcharges that you will be required to pay. You can check the cost of flood insurance for a specific location by going to www.floodsmart.gov. You can also lower your insurance costs by choosing a location with less risk—for instance, further from the beach, down the mountain or in a gated community where there is security.

Type of Property—As is the case with any house, a vacation home’s age and types of building materials used will impact the cost of insurance. In addition, these costs will vary depending on whether your second home is a single-occupancy house, a condominium or a townhouse. A condominium, for instance, may have lower insurance costs because the homeowners association maintains and insures the exterior of the property and may provide security. Generally, the cost of insuring the structure of the unit will be included in the monthly maintenance fees. Your personal condo insurance will cover your belongings and specific areas of the unit listed in the policy.

Amenities—If your vacation home has a pool, hot tub or other special amenity that adds risk, you may pay a higher insurance premium. You may also want to purchase more liability protection as these items are considered “attractive nuisances” that lead to a higher probability of liability claims being filed.

Ways to Save on Second Home Insurance Costs

While the price of insurance will increase the total cost of ownership of a second home, there are steps that you can take to help make insurance more affordable:
Bundle Your Policies—If you insure your second home with the same insurer that provides coverage for your primary residence, you may be able to save 5 to 10 percent.
Install an Alarm System—A centrally monitored alarm system that detects both fire and break-ins can help lower the cost of insurance on your second home.
Shop Around—Get at least three quotes for coverage on your second home. It pays to shop around, both when you first purchase a policy and before you renew your policy each year.

Will You Rent Your Property?

If you plan to rent your vacation home to others, your homeowners insurance costs will likely increase, and you may need to purchase additional coverage. Your insurance needs will depend on how often you rent out the property and for how long. For a one-time short-term rental, you may be able to add a simple extension (an “endorsement”) to your existing homeowners policy. On the other hand, if you plan to regularly rent out your second home, you may need separate business coverage or a landlord policy. While some rental services, such as Airbnb and VRBO, offer coverage for homeowners, it’s important to read the fine print to determine limits and exclusions.

Because renting your second home entails additional, more complex risks, it’s a good idea to consult with your insurance professional. For more information, read the I.I.I.’s article, “What Type of Insurance Do I Need If I’m Renting out My Home?”

TIP

You’ll probably be furnishing your new vacation home as well as keeping clothing and equipment there to use when you visit. To help keep track of your possessions and file an insurance claim if necessary, create a home inventory with all of the items you’ll be keeping in the house. The I.I.I. provides a free Web- and app-based inventory tool, Know Your Stuff®, which makes it easy to store information and photos of your possessions, all in one place. The tool also allows you to set up various homes, each with their own inventory, and move items from one to the other.

By Insurance Information Institute

Home Insurance Satisfaction

 

U.S. Homeowners Give Record High Satisfaction Scores To Their Insurers

J.D. Power Study Surveyed Policyholders Who Filed a Claim

March 13, 2017

NEW YORK, March 13, 2017—About one of every 15 U.S. homeowners insurance policyholders files a claim each year and these claimants are now giving insurers their highest ever satisfaction ratings, according to the Insurance Information Institute [1] (I.I.I.). 

 

The J.D. Power 2017 U.S. Property Claims Satisfaction Study [2] gives U.S. home insurers a record score of 859 (on a 1,000-point scale). The industry’s cumulative score stood at 846 in 2016. Five factors are considered when assessing policyholder satisfaction: settlement; first notice of loss; estimation process; service interaction; and repair process.

 

“Insurers are the nation’s economic first responders and, as such, are continually working to improve how they help Americans recover their lives and businesses in the wake of tragedy and catastrophe,” said Sean Kevelighan [3], president and chief executive officer (CEO) of the Insurance Information Institute (I.I.I.). “This year’s J.D. Power and Associates survey results are a clear reflection that the industry’s hard work and dedication are delivering the intended results.”

 

These all-time high claims satisfaction scores are even more remarkable given that incurred losses and loss-adjustment expenses for U.S. property/casualty (P/C) insurers grew by 7.6 percent [4] year-over-year when comparing the first nine months of 2016 to the first nine months of 2015, according to an analysis developed by Dr. Steven Weisbart, the I.I.I.’s chief economist.

 

Incurred losses reflect the dollar amount of a home insurer’s claim payout whereas a loss adjustment expense is the sum an insurer pays for investigating and settling claims, including the cost of defending a lawsuit in court.

 

Moreover, Dr. Weisbart noted, catastrophe-related claims through the first nine months of 2016 were already at their highest level since 2012—the year of Superstorm Sandy—and the fourth quarter of 2016 pushed those numbers even higher after insured claim payouts from October 2016’s Hurricane Matthew.

 

The federal government agreed that 2016 was a volatile, and costly one, estimating 15 separate weather and climate events last year caused more than $1 billion in economic losses, not all of them insured, according to the National Oceanic and Atmospheric Administration [5] (NOAA). 

 

“Property and casualty insurers have redoubled their efforts to improve the settlement process and fine-tune their customer interactions, efforts that have been clearly recognized and appreciated by homeowners who experienced significant losses this past year,” J.D. Power said.

 

The study also noted opportunities for improvement, most notably in water-related and other complex claims that take a long time to settle and that cause significant lifestyle disruption. J.D. Power noted, “Insurers that manage to get the settlement process and customer interaction equation right in these types of disruptive and often catastrophic scenarios are those that raise the bar for the industry.”

 

The study is based on more than 6,600 responses from homeowner’s insurance customers, and was fielded between January and November 2016.

 

The I.I.I. has a full library of educational videos on its You Tube Channel [6]. Information about I.I.I. mobile apps can be found here [7].

 

THE I.I.I. IS A NONPROFIT, COMMUNICATIONS ORGANIZATION SUPPORTED BY THE INSURANCE INDUSTRY.

 

Insurance Information Institute, 110 William Street, New York, NY 10038; (212) 346-5500; www.iii.org [1]

Car Insurance Rates Outpacing Home Insurance Rates in 2017

Oklahoma consumers are finally getting relief from skyrocketing home insurance quotes.  However, now our attention is turning to car insurance rates in Oklahoma.  What can consumers do in 2017 to find car insurance rates that are affordable?  1) Work with an Independent Agent that can shop multiple companies and 2) Call your agent and ask him to go to work for you!

Check out this report from CNBC on why Oklahoma car insurance rates are now outpacing Oklahoma home insurance rates.  Click Here

 

 

Home Insurance Favorites in Oklahoma

“We love to offer Safeco ( a Liberty Mutual Company) home insurance quotes to our Oklahoma customers because we trust Safeco to provide long term value on your Oklahoma home insurance and your Oklahoma car insurance”

Flexible coverage options your customers will love.

 We offer homeowners the freedom to choose from multiple levels of insurance protection:

Safeco Optimum: Our highest level of coverage with increased protection for extensive assets and treasured belongings

Safeco New Quality-Plus:

A high quality policy with the perfect balance between coverage and value

Safeco Essential:

A homeowners coverage lets you sell a solid policy at the most affordable price

Safeco makes it easy.

We’ve enhanced our homeowners quote & Issue system on the Safeco Now® platform to allow you to customize Safeco’s homeowners policy based on the way you sell. You can adjust your preferences in one of two ways:

  1. Customize the coverage levels and features with your own defaults
  2. Use our company suggested features with a single click of a button

For even more convenience and savings, customers can combine a Safeco auto and homeowners policy into a Safeco Package.

Industry-leading suite of optional coverages.

 Safeco offers additional product features that further enhance the protection of your customers and their belongings.

Equipment breakdown:

  • For just $2 a month, this valuable coverage offers an extra layer of protection for the home systems and equipment your customers depend on most

Identity recovery coverage:

  • For $1 a month, we can help a customer restore their identity if it’s stolen

Personal offense coverage:

  • Protects customers from libel or slander liability exposures

Statewide Insurance Agency represents multiple insurance companies so that we can find the right home insurance and car insurance for you.

https://okstatewide.com

https://www.yext.com/s/150254/social/post

https://plus.google.com/u/0/

https://plus.google.com/u/0/b/116995763748235113572/?pageId=116995763748235113572

https://plus.google.com/u/0/b/117667196235133145414/?pageId=117667196235133145414

 

 
Insurance Information Institute
 

Which Disasters Are Covered by Homeowners Insurance?

Standard homeowners policies generally cover a wide range of potential disasters, from tornadoes and windstorms, to fire and lightning strikes, to winter storm damage caused by weight of ice and snow. Most homeowners policies cover all the disasters listed below. Some policies provide coverage only for the first 10 listed. It is important to check check your insurance policy for the specific perils covered.

WHAT TYPE OF DISASTERS ARE COVERED?

 
  Dwelling & personal property Dwelling Personal property  Dwelling & personal property
Perils Basic
HO-1*+
Broad
HO-2*
Special
HO-3*
Special
HO-3
Renters
HO-4
Condo/
Co-op HO-6
Modified
Coverage HO-8
1. Fire or lightning x x x x x x x
2. Windstorm or hail x x x x x x x
3. Explosion x x x x x x x
4. Riot or civil commotion x x x x x x x
5. Damage caused by aircraft x x x x x x x
6. Damage caused by vehicles x x x x x x x
7. Smoke x x x x x x x
8. Vandalism or malicious mischief x x x x x x x
9. Theft x x x x x x x
10. Volcanic eruption x x x x x x x
11. Falling object   x x x x x  
12. Weight of ice, snow or sleet   x x x x x  
13.  Accidental discharge or overflow of water or steam from within a plumbing, heating, air conditioning, or automatic fire-protective sprinkler system, or from a household appliance.   x x x x x  
14. Sudden and accidental tearing apart, cracking, burning, or bulging of a steam or hot water heating system, an air conditioning or automatic fire-protective system.   x x x x x  
15. Freezing of a plumbing, heating, air conditioning or automatic, fire-protective sprinkler system, or of a household appliance.   x x x x x  
16. Sudden and accidental damage from artificially generated electrical current (does not include loss  to a tube, transistor or similar electronic component)   x x x x x  
17. All perils except flood, earthquake, war, nuclear accident, landslide, mudslide, sinkhole and others specified in your policy. Check your policy for a complete list of perils excluded.     x        

* HO-1, HO-2 and HO-3 refer to standard Homeowners Policies.       
       
+HO-1 has been discontinued in most states.

Disasters That Are Not Covered

1. Floods

Flood damage is excluded under standard homeowners and renters insurance policies. Flood coverage, however, is available in the form of a separate policy both from the National Flood Insurance Program – NFIP ( 888-379-9531) and from a few private insurers.

You can get replacement cost coverage for the structure of your home, but only actual cash value coverage is available for your possessions. There may also be limits on coverage for furniture and other possessions stored in your basement.

Flood insurance is available for renters as well as homeowners. You will need flood insurance if you live in a designated flood zone. But also consider buying it if your house could be flooded by melting snow, an overflowing creek or water running down a steep hill. Don’t wait until the evening news announces a flood season warning to buy a policy. There is a 30-day waiting period before federal flood coverage takes effect.

2. Earthquakes

Earthquake coverage can be a separate policy or an endorsement to your homeowners or renters policy. It available from most insurance companies. In California, it is also available from the California Earthquake Authority. In earthquake prone states like California, the policy comes with a high deductible.

3. Maintenance damage

It is your responsibility to take reasonable precautions to protect your home from damage. Your insurance policy will not cover damage due to lack of maintenance, mold, termite infestation and infestation from other pests.

4. SEWER BACK-UP

Sewer backups or the inability of sump pumps to handle runoff water from major downpours are not covered under a typical homeowners insurance policy, nor are they covered by flood insurance. Those types of coverage must be purchased either as a separate product or as an endorsement to a homeowners policy.”
 
Sewer backup coverage is available from most insurers for a nominal cost—usually an additional annual premium of $40-$50.
 
Many homeowners may not realize that they are responsible for the maintenance and repair of their house or sewer lateral—the pipeline between the city sanitary sewer main, usually located in the street—and the building. The sewer lateral is owned and maintained by the property owner including any part that extends into the street or public right of way.

 
 

Renewal Review: Norman, OK Home Insurance Quotes

When you have a home insurance policy, it’s easy to get complacent. You have your coverage and you’re used to paying your premiums. But being complacent isn’t good when it comes to your home insurance coverage. Failure to review yearly could mean leaving a lot of money on the table for you and your family.

It’s best to take a yearly inventory of your insurance needs. Have your coverages changed? A lot can happen in a year — you can add members to your family, get married, acquire jewelry, move or change jobs. All of that can lead to needing different coverage. If you don’t take time to look at what type of coverage you need every year, you can find yourself in a tough spot when an loss happens and you aren’t properly covered.

Even if your coverage needs haven’t changed, prices might. It’s good to call your Independent Insurance Agent and ask him/her to make sure you are getting the best deal on your Norman home insurance and/or your Norman car insurance  — perhaps you’re paying too much for certain coverage.

It’s best to talk with your agent about your coverage needs and price once a year. Just because you see a lower price elsewhere doesn’t mean you have to jump on it — discuss it with your agent and figure out what’s best for your needs.

Statewide Insurance Agency serves the entire state of Oklahoma; however, we enjoy an extra special relationship with our home insurance and car insurance customers in the Norman, OK area!  Remember….we search multiple companies to find the right one for you!