If you’re looking forward to getting home insurance, it’s easy to conclude that you know the value of what you seek. The next step is getting quotes and comparing them before discussing purchasing. However, finding home insurance quotes is quite sketchy, and you must get it right to enjoy your coverage in the long run.
Finding Home Insurance Quotes
When it comes to receiving a homeowners insurance quotation, you have many options:
- Get a quote for house insurance online or over the phone.
- Going through a “captive agent,” who represents a single company.
- Work with a broker or an independent insurance firm.
The advantages and disadvantages of each are listed below.
Online or over the phone
Many companies provide free homeowners insurance quotes via the internet. If the quote appeals to you, you may generally complete the purchase online. Some insurers may let you start a quote online and then transfer you to a live agent to finish it over the phone.
Captive agents
A captive agent works for only one insurance company, such as Allstate, Farmers, or State Farm. The agent’s purpose is to help you decide which insurance is best for you and provide you with a price.
When you buy a policy, the agent gets a commission depending on a percentage of your premium. Unlike regular agents, captive agents may be paid a salary by the insurance company.
Working with a captive agent has one major disadvantage: they can only give estimates from one company.
Insurance brokers and agents
Get a quote from an independent agent or broker if you don’t want to be bound to a single provider. Independent agents and brokers work with a range of insurers and may be able to offer homeowners various options.
However, independent agents get compensation on a commission basis. Hence, they may desire to offer you the best service or steer you towards more expensive insurance.
