Shopping your insurance every few years is one of the simplest ways to make sure you are adequately covered and getting the best available price. Use these steps as your guide.
Step 1: Gather information about your home
Have this ready before you contact an agent or request a quote:
- Year the home was built
- Square footage
- Roof shape and age
- Date of any upgrades, if known (HVAC, roof, wiring, plumbing)
- Construction type (wood frame, brick veneer, concrete block, etc.)
- FORTIFIED designation level and certificate number, if applicable
Step 2: Make sure you have enough coverage
Your policy should cover:
- The full cost to rebuild the structure of your home and any additional structures such as a detached garage, shed, or workshop. This is not the market value of your home but what it would cost to rebuild it today. Construction costs have risen sharply in recent years, so confirm your coverage limit reflects current prices, not what you paid when you last set up your policy.
- Coverage for other structures is typically set at 10% of your dwelling limit. If you have significant outbuildings, confirm that is enough.
- The cost to replace your personal belongings. Standard policies cap coverage for high-value items like jewelry, art, and firearms at $1,500. If you own valuables above that threshold, ask about a scheduled personal property endorsement.
- Additional living expenses if you cannot live in your home during repairs
- Liability to others
Step 3: Ask about these coverages
Replacement Cost Value (RCV) pays to replace your home or belongings at today's prices with no depreciation. The alternative, Actual Cash Value (ACV), subtracts depreciation from the payout. On older items, that can mean little to no payout after your deductible. RCV is worth the added cost.
Ordinance or Law requires you to bring your home up to current building codes if it is substantially damaged. Without it, code upgrade costs come out of pocket. This is especially important for older homes.
Water and Sewer Backup covers damage from water backing up into your home through the plumbing. It is separate from flood insurance and must be added as an endorsement.
Flood Insurance is not included in standard homeowners policies. If your property is near a flood zone, it is a smart investment. Nearly 30% of flood insurance claims come from homeowners outside high-risk flood areas. Learn more about flood insurance.
Wind Insurance is a separate policy in coastal areas of 19 states. If you live in a coastal state, confirm whether wind coverage is included in your homeowners policy or must be purchased separately. Ask your agent for your wind deductible in dollar terms, not just as a percentage, so you know your actual out-of-pocket exposure before a storm. Learn more about wind insurance.
FORTIFIED Roof Endorsement pays to install a FORTIFIED Roof if your home requires a roof replacement after a covered loss. Ask your agent whether this endorsement is available on your policy.
Step 4: Ask about discounts
If your home has a FORTIFIED designation, make sure your agent knows. In states with enacted legislation, it qualifies you for wind premium discounts of 20% to 55%. Many carriers offer discounts voluntarily in additional states. Use the Incentives and Resource Map to see what is available where you live.
Step 5: Use our comparison tools
Download the Homeowners Insurance Comparison Tools and the Top 10 Questions to compare quotes side by side and ensure you are asking the right questions.
Have questions about coverage, FORTIFIED discounts, or finding the right agent? Contact us.