Who Most Clients Use
Most clients use the same company they use for auto insurance and/or renters insurance (although some auto insurance companies don’t offer homeowner’s insurance). This is often "the path of least resistance", but that doesn't mean it is a bad choice.
Why Cheapest May Not Be the Best
Those who choose to shop other companies may find that they can save a few dollars per month. Some clients who have chosen to use one of these “other” companies have reported that they don’t get a “bundle” discount and often after the first year the rate is raised to higher than what they would have paid with one of the insurance companies that does both home and auto insurance and offers a discount.
Some insurance companies might quote a lower rate knowing that many people won’t bother to change companies if the premium goes up in subsequent years.
Do You Want to Shop Every Year?
Some clients don't mind shopping for homeowner's insurance every year and changing companies every year in order to get the best deal year after year. It's always your decision.
Look at All Options Before Making a Decision
Check with various companies (just like when you shop for a mortgage). And make sure you include a few companies that provide multiple types of coverage that you can bundle for an additional discount. If you have special circumstances, your best option may not be with a company that "bundles", so you need to look at all options and consider what is best for you and what you feel most comfortable with.
Apples and Oranges
Just like mortgage quotes, insurance quotes have many facets that can affect the monthly cost of the product. Deductibles, amounts covered, additional property covered and liability coverages all affect the premium. Make sure that your coverage amounts and deductibles are the same or very similar as you compare companies or you will not be able to make a true comparison.
And remember: paying the least for inferior coverage isn't always the wisest decision.
Buying a home in Salt Lake City or the Surrounding Area? Make sure you get an Agent on YOUR side of the transaction!
If you have excellent credit and will be buying a $250,000-$750,000 home in the next 30-60 days and would like an agent who will work exclusively for you, call us at (801) 969-8989 or contact us via the link on this page.
©2008 Homebuyer Representation, Inc. "The Real Estate Agents on the Buyer's Side" ™ Exclusive Buyers Agents (EBA) - All Rights Reserved
Exclusive Buyer Brokerages do not list homes and never represent Sellers. Their agents represent Buyers ONLY on the Buyer's side of the transaction. They work to get BUYERS the Best Price and Terms when they Buy...
©2008 Homebuyer Representation, Inc. - Salt Lake City, UT
Exclusive Buyers Agents (EBA) - All Rights Reserved