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Top Homeowners Insurance Company Ratings By Customers – 2011

admin — Mon, 19 Sep 2011 13:11:08 +0000

Which Homeowners Insurance Companies Do Customers Rate Well?

How Does Your Homeowners Insurance Company Rate?

Most of us shop for our home policies by price, or by the company that can offer us insurance discounts because of other business we can place with them. However, when push comes to shove, the insurer you want is the one that will really take extra steps when you do need to make a claim.

It is simple enough to find the best homeowners insurance rates, but a little tougher to predict which insurer will have our backs when we need to make a claim, ask about our bills, or even just ask a question.

We thought this would be a good time to give you a brief summary of the top rated homeowners insurance companies by customer satisfaction ratings.

Storm season is coming up now. People on the coast are keeping a watchful eye on tropical storms and hurricanes. Meanwhile, people further north are getting ready for winter storms. This may be a good time for you to evaluate your own home policy!

How Are Home Insurance Companies Rated?

For a good customer satisfaction survey, we turned to the JD Powers Homeowners Insurance Customer Service Ratings.

This company actually polls consumers for their ratings on a number of factors. Find out which companies make their customers happy for a number of different factors.

Overall Satisfaction – This represents an overall rating to let customers tell others how satisfied they were with their insurer as a whole.
Policies Offered – Different home owners need different types of coverage. This allowed the consumers to rate how well their company seemed to be able to meet their unique needs.
Pricing – We never said that price was not important. People want to feel like they have affordable premiums, but also good value for their money.
Billing And Payment – Does the company have suitable methods of collecting payments, flexible terms, and are the bills accurate and easy to understand?
Contacting the Insurance Company – This rating may cover the most ground. It covers any type of contact with the insurer, or an agent, over the phone, in person, through a website, by email, etc. It could also be for a number of reasons like asking a question, starting a claim, or checking on a claim in progress.

Also, keep in mind, that not every insurer is open to every US home owner. Some, like USAA, only serve the military and their families. Others may only do business in certain states. Also understand that a lot of insurers have different products and prices in different areas. When it comes down to it, you really need to do your own survey for your own needs. This is a place to start, but you can also find the best homeowners insurance rates and companies for yourself, with our free quote forms!

Top Rated Homeowners Insurance Companies In 2011

AMICA MUTUAL – This company ranked 1st, with 5 golden balls in each area polled. They have ranked first for the 10th year in a row, so this has to be a good sign that Amica Mutual is worth checking out.

USAA – USAA actually ranked just as high as Amica Mutual. However, since this company only markets to military families, it was not included in the top ranked homeowners insurance companies. If you qualify for USAA coverage, they might be high on your list.

Five golden balls indicate that the customers thought their company was better than the rest. A few companies also scored four golden balls in overall satisfaction. This means that the customers thought their company was better than most others. These highly rated companies are State Farm, Erie Insurance, Cincinnati Insurance, Auto-Owners Insurance, and American Family.

Note that these golden balls are informative, but probably not everything. The actual press release for the JD Powers customer satisfaction survey noted that certain types of customers tend to be happier with their insurance company than others, regardless of which insurer they used.

For example, people who could bundle auto and home insurance in order to get discounts and more policy choices, tended to be more pleased with their insurer. People who also needed to add flood insurance tended to be less satisfied with their coverage.

So take the survey results as one piece of information. But you will probably need to learn more before you make your own final decision.

Can Your Homeowners Insurance Policy Save You From Foreclosure

David — Mon, 18 Jul 2011 13:40:19 +0000

Little Known Home Policy Rider Protects Against Foreclosure

Homeowners Insurance Job Loss Coverage

These days, we have all been shocked by the number of US mortgage foreclosures against homes. For most of us, our home represents a lot more than just owning a building! It is the center of our lives, a source of pride, and possibly the biggest asset we have worked to call our own!

Job Loss Mortgage Insurance

There is actually a little known homeowners insurance rider that may help protect some people against the risk of foreclosure. This coverage does NOT come standard with a typical policy. It is an add-on option (rider) that some insurers offer.

Read The Fine Print!

The rider will pay some or all of the mortgage payments in the event of a job loss if certain conditions are met. These conditions will vary from policy to policy so be sure you fit the criteria before you decide to add it to your policy because there will be an extra charge for extra coverage!

For example, the coverage may require the home owner to be employed for a specific amount of time, or to qualify for state unemployment benefits. Since not everybody will fit this criteria, the extra benefit will not help everybody. However, if you do qualify, this extra protection can certainly add to your security in these tough economic times.

There are also probably waiting periods and maximum terms. For example, the coverage may kick in if you have been out of work for X amount of months, and then make payments for X more months after that.

Do You Need Job Loss Mortgage Protection Added To Your Homeowners Policy?

Be sure and ask your agent about adding this rider to your home policy. If your current company does not offer this extra protection, you can certainly take advantage of insurance quotes online to find a company that does.

What To Remember About Home Insurance Policies

FinanceGuy — Mon, 20 Jun 2011 00:31:24 +0000

Check Your Homeowners Policy

Did you just purchase a home policy from an agent, and then forget about it. Nobody really likes to talk about insurance, unless they are in the business! However, think about how important an asset your home is. How bad would it hurt you and your family if you did have damage without proper coverage in place?

Maybe it is time to step back and remember the basics of homeowners insurance so you make sure you are properly covered. This is important if you are a brand new home owner, of if you have already owned a home for quite a while.

Consider a few things about home policies. For one thing, an ordinary policy does not just contain one kind of coverage. It contains multiple sections. They are for your actual building, liability, and the contents inside your home. Each of them can be very important, and it is important to make sure you have the right type and amount of coverage.

Actual Buildings: The actual buildings are covered for damaged so they can be repaired or even rebuilt. Is your maximum rebuilding allotment correct? The cost to build a home, on your lot, may not be the same as the market value of the house. It could be more or it could be less. It is important to figure out how much it would actually cost to build a similar house from scratch.

Contents of The Home: This is covered by another section. Do you have enough coverage in order to buy new things if your old things get damaged? Remember that you probably bought your things over a period of time. If you had to replace it all right away, how much would that cost?

Liability Insurance: These days, you never know when somebody will sue you. If you do get sued by somebody who claims that your negligance damaged them, it will be helpful to be certain that a homeowners policy is there to protect you!

If you haven’t checked your policy for awhile, it may be time to check again. If you are purchasing a new policy, make sure you get good advice about the amount and type of coverage you are buying. A good agent or insurance company representative should be able to help you further.

Of course, if you are not satisfied with anything about your present company, you are free to shop around. This business has a lot of competition, and many people have saved money by switching companies! Just be wary of saving money by cutting coverage because that can cost you a lot in the long run.

Homeowners Insurance VS. Flood Insurance

myfreeforum — Sat, 21 May 2011 15:20:49 +0000

Does Homeowners Insurance Cover Floods?

Got A Flood Plan

The spring seems like a good time to start alerting homeowners to the potential risks they may still face from floods, even with the best homeowners insurance company. That, of course, is the risk of water damage from floods, which may not be covered by a typical home policy.

Of course, let me start off this article with usual disclaimers. It depends upon your policy! No article I write relieves you of reading the fine print, or asking your agent, to find out exactly what is covered by your own insurer and specific policy.

Accident Related Water Damage

Most of the time, water damage caused by some type of accident will be covered. If a pipe bursts in your home, the water damage is typically covered. There is some risk, though, that an insurer could determine that the damage was caused by your own negligance. Sometimes, like during a hard freeze, it is very difficult to anticipate this problem. But if you toilet pipe as been shaking or leaking for years, and you did not attend to it, it would not be hard to see how an insurer could throw the ball back in your court.

If grandma accidentally steers her 1985 Buick into your water main, and you make sure she is ok before you rush to shut off it off, you should be able to defend your actions.

What About Floods?

If you think your home insurance policy covers you against flood damage, you could have some unpleasant surprises after the next big storm. Acutally the national flood insurance program provides most natural water damage.

You may think that only homeowners in storm prone areas that are near big bodies of water, like the Gulf states, have to worry about this. But actually, melting water from snow in the northern states generates a lot of flood related claims.

How To Find Flood Insurance

The US federal government backs the national program. However, you can find out more from a good homeowners insurance agent. He or she will be able to explain what your policy covers, and then tell you if you should further protect your home with a flood policy.

Luxury Home Insurance – Needs Of The Rich

admin — Sat, 14 May 2011 16:11:11 +0000

Rich People’s (Homes) Are Different

Luxury Home Insurance Is Different

As they say, the rich are different, and so are their needs for homeowners insurance policies. There is even a different name for these policies, called luxury home insurance. This type of coverage requires a lot more work in the appraisal and underwriting policy.

Instead of a simple home appraisal which can rely upon home values of other houses in a neighborhood, these estimates of home worth may have to include very specialized items like million dollar kitchens or high value paintings. How is an appraiser to determine the replacement value of the priceless?

In addition, there will usually not be cookie-cutter houses next door. So the appraiser cannot just look at a long list of previously sold homes for comps.

Luxury Home Insurance May Require a Specialty Home Insurer

A normal 20 minute appraisal or a drive-by will probably not be enough for a luxury home insurance underwriters. In fact, some specialty insurers concentrate in this market. An example would be the Chubb Insurance Group, who is reported to cover almost 2/3 of the of the Forbe’s 400 richest people.

This is not an endorsement of that particular company, just an example. The top large insurance companies, who provide policies for the rest of us, can probably come up with the resources to help many people with more expensive houses too.

How Does Luxury Home Underwriting and Appraisal Work?

The underwriting process will be a lot more detailed if it is done right. This will include photos of home details both inside and out. Then the appraiser will prepare an extensive report. After that, insurance company representatives actually sit down with the homeowners to make sure everything has been prepared to their satisfaction. This is a different level of service than middle class homeowners ever get or expect.

Some valuable items in the home may have to be professionally appraised and insurerd apart from the main policy. Where most middle class people just select a certain level of home contents insurance, the rich have a much more complex process.

Lower Cost Mobile (Manufactured) Home Insurance

David — Wed, 06 Oct 2010 15:52:06 +0000

Mobile and Manufactured Home Insurance

Mobile and manufactured homes are not exactly the same, but they tend to get grouped together in an insurnce discussion. Keep in mind that we are not discussing a little camper that goes in the back of a truck, but probably a fabricated and factory made structure that is usually stationary. One tip we found to tell if a home is a manufactured or true “mobile” home is to check and see if it has license tags. But that tip is for another discussion.

We are looking for ways to find lower cost mobile home insurance, because in some areas, rates can get pretty high. People are attracted to fabricrated houses because of the lower cost. But because of a few things, insurers may see them as riskier to insure to regular “built” structures. One advantage to owners is that conforming to many of these ideas will also save them money in the long run too.

But, as with any house, there are ways to get the best homeowners insurance rates. Some of these things have to do with the manufacture of the building while some have to do with extra things that owners can do to qualify for mobile home insurance discounts that will help some. The key to this is understanding the risks of mobile or manufactured homes vs. “stick built” homes.

Hold Down Mobile Home Insurance Costs

Winterize your home. Because some of these factory built homes may not come with the same insulation as a traditional house, you may want to invest in extra insulation. These can demonstrate you are taking steps to keep pipes from freezing. It also should keep down your heating bill in the winter.

Tie it down. Because factory built homes are lighter than brick houses, they may suffer more wind damage in a severe storm, tornado, or hurricane. Many insurers will ask you to use tie-downs and ground anchors to help minimize this problem. This can also make you a lot safer. Some mobile home parks do have a storm shelter for residents, and this would be an amenity I would want to look for!

Newer can be better. Are you purchasing a new home? Consider the age. After 1976, factories had to produce these homes to higher standard, and that factors in to premiums. Even newer homes will conform to stricter rules about federal standards for design and construction, fire resistance, energy efficiency, and quality.

As with any home owner, you will want to shop around for the best deal on homeowners insurance rates. They can vary wildly by location and company, and that knowledge may affect your other decisions.

Condo Insurance Policies vs. Homeowners Insurance

FinanceGuy — Sun, 08 Aug 2010 18:13:46 +0000

Condo Owners Insurance vs. Traditional Homeowners Insurance

Look At Condo Owners Policies

Yes, you own your condominium

, but the nature of that unit is a bit different than a traditional free standing home. So your condo owners insurance will be a bit different than traditional homeowners insurance. And this will also be a bit different than a renters policy if that is what you were used to before.

You own your unit, but it is within a buidling that shares some common structures with the whole building. That building is probably managed by some type of conominium association. This association will have a policy that covers common areas.

So, your policy will not cover the common areas or building that are covered by the association policy. This answer may seem sort of evasive, but that is because this may differ in different states or, even, in different condominium buildings. A common roof or swimming pool may be covered by the building association policy, while your own internal fixtures or personal property would be covered by your owner’s policy.

There may also be other exclusions to your policy, but these will be determined by the particular insurer you use and how you structure your policy. For example, and ordinary policy may not cover floods or any activities associated with running a home business.

Condo Owner Insurance Costs

We cannot begin to give cost estimates either. An Arizona or California condo policy will be different than a Florida Condo Insurancce policy. And of course, the value of the unit, where it is located, and your own insurer will affect the premiums. Even if you use the same insurer and have an identical unit to your next door neighbor, your premiums could be different because of your credit rating, personal property, etc.

You, or your neighbor, may also be entitled to homeowners insurance discounts. For example, insuring a vehicle and a home with the same company is a common way to earn a discount.

If your condo is a second home, and you lease it out sometimes, be sure to let your insurer know this. You may also need landlord coverage, in addition to your condo owner’s policy.

That is why we urge you to take a few minutes to get fast insurance quotes with competitive, name brand companies. You can find information online, and you can also find qualified local agents to help you get comprehensive coverage at an affordable price.

Best Auto and Home Insurance Discounts

David — Sat, 31 Jul 2010 15:41:37 +0000

Maximize Your Insurance Discounts For The Best Auto and Home Insurance!

Sure, you probably knew that the larger insurers would give you a good auto and home insurance discount, but did you know this could be maximized for the largest savings from the top companies? And, did you know that you do not have to be a homeowner, in the traditional sense, to take advantage of these savings? Renters, condo owners, and landlords can also benefit! If you have another type of home, you may be more interested in reading about mobile home insurance discounts here.

How Much Are Auto and Home Discounts?

Look at some typical figures from major insurers. Keep in mind that insurers are different, and your rates and discounts will surely vary. That’s why it pays to shop around!

For a home owner (house), condo owner, or a renter who also places an auto insurance policy, savings should be about 15%.
Protective devices (burglar, fire alarms, etc.) can save an additional 15%.
Renovations or New Construction – You may save another 15% for renovations or construction that is fire resistant.
55+ Discounts – Some insurers will shave off 10 – 15 percent for customers who are over 55!

Does 15% sound like a lot? Well, actually if you consider your yearly premium amount it can start to add up! But if you start collecting one of more of these discounts, they really start to add up. How would you like to save 15%, 30%, or more?

Again, insurers offer different discounts. For example, some large car insurance discounters do not offer home policies at all, so you have no opportunity to take advantage of these discounts. It pays to shop around for a good quality company who give you the best deal on home insurnace and auto insurance!

We certainly provide quote forms with the opportunity to take advantage of this!

How to Find The Best Home Insurance

admin — Mon, 26 Apr 2010 18:13:29 +0000

Buy The Best Homeowners Insurance For You!

Most of us consider our homes as our biggest asset. They provide a center for our family life, a place to sleep at night, and are something that we may spend decades paying off. Because homes are so important, homeowners must be sure to protect them with the best insurance. Of course, while we all want top quality coverage, none of us want to pay to much for it!

So let’s look at things to consider while shopping for the best homeowners insurance rates from a top company.

What Is Good Homeowners Insurance?

I cannot tell you which one insurance company will be the best one for everybody. Companies, and even particular policies, are regional. Insurance is regulated at the state level, and sometimes your zip code can determine which options you will have. What I can do is to help you figure out what you want to look for when you are covering your home.

Customer Service is Important! Most of us pay premiums every month, hoping we never have to make a claim. But when we do need our insurer to help us, we want the claims process to be fast and simple. I think that researching other people’s experience with the claims process is one of the best things you can do. You can ask your neighbors to see what they think, and you can search the internet for feedback from other customers.
We Want Low Homeowners Insurance Premiums! I think the second thing to consider is the price. You need to find a premium you can afford. Of course, the actual price is affected by so many things that the cheapest policy for you may not be the cheapest one for your friend next door.
Discounts Can Help Lower Premiums. You may be entitled to insurance discounts with one company that help reduce your price. Common discounts are for insuring your auto and home with the same company, anti-theft alarms, or safety devices. Some of these discounts may be for things you should have anyway, so why not take advantage of them to find the lowest rates?
Understand Your Policy. Everybody does not have to go out and earn an insurance license, but I think people should take a few minutes to learn what is in their policy before they need to make a claim. Home policies are usually bundles of different types of coverage. You may not be taking advantage of your own insurance if you are not even sure what it covers.

How Can You Find the Best Home Policy?

In the old days, we used to have to pick up the phone. It took a lot of time to speak to multiple insurers for accurate quotes and policy information. Even an internet search can take a lot of time, because you know how many pages you may have to comb through.

A simple and convenient online form can help you. Find the best homeowners insurance companies in your own city or town with our fast and free insurance quotes. You will only have to enter your basic information one time. Then you can just wait for competitive quotes from well known insurers.

Real Costs of Home Ownership

admin — Tue, 13 Apr 2010 13:12:30 +0000

How Much Does it Really Cost to Own A Home?

Even now, we still see ads that you can own a home for the same amount of money you pay in rent. Well, since nobody who writes these ads knows exactly how much you pay for rent, or what you would pay for the home you want to purchase, it is important to examine this claim. Is owning a home really as cheap as renting?

They usually compare your mortgage to your rent payment. For instance, I have seen ads that claim your monthly payment will only be $750 a month, and now you might be paying $1,000 a month to rent a larger apartment or small home in an average area. But is that $750 monthly mortgage payment all you need?

Here are some of the basic costs of home ownership:

Homeowners Insurance – This will, of course, vary by many factors. Your area, size and value of your home, etc., will determine your actual rates. Of course, the actual insurer will set your premium based upon its underwriting and the type and amount of coverage you have. But let us just say your homeowners insurance will cost about $100 a month. This is probably a conservative estimate. You can compare homeowners insurance rates here. Note that many landlords do require renters contents insurance too, but it is usually pretty cheap. You can also compare homeowners and renters insurance.

Property Taxes – When you rent, your landlord pays property taxes, though that amount may be go into how he or she calculates your monthy payments. Now you must pay school taxes, county taxes, water district taxes, etc. This amount will vary, but let us just estimate your year end tax bill will mean you need to set aside another $200 a month.

Homeowners Association Dues – These dues help keep up neighborhood services, like landscaping common areas, parks, and swimming pools. These also vary by neighborhood, and some are quite low. Some are substantial though. Let us pull some average figure for a newer neighborhood and estimate these fees will be about $600 a year. This means you need to set aside another $50 a month.

Repairs and Upkeep – If you purchase a new home, you may have a warranty. You may also be able to buy a warranty on an older home. If you do not have a warranty, you will need to pay for repairs. If your sewer backs up, air conditioner goes out, or you need to fix the fence, these will come out of your budget now. I think any sensible homeowners would allocate, at least, $100 a month for repairs and upkeep.

Is Owning Really Cheaper? Well, you can see by our illustration that the homeowners would have higher costs than a renter. If you are purchasing a home because you think it will ease the load on your monthly budget, you may want to really sit down and examine that logic. You also really need to be sure your family is in a stable financial position. It is much easier to get out of a lease, if you have to move, than it is to get out of a mortgage!

Advantages of Home Ownership – Do not get the idea that we do not want anybody to buy their own house. You can enjoy a lot of advantages when you own, instead of rent. You should enjoy the pride and security of owing a family home. You may also be able to build a large asset that will help provide financial security. A home may also provide some tax advantages that renters cannot take. It doesn’t always work out that way, but it does for many families.