When you first purchased your home, you probably had a real estate agent that helped you through the process. The first year of your homeowners insurance was most likely paid up front, with the second year being rolled into an escrow account to be paid out accordingly. With interest rates continuing to fall, you may be considering refinancing this home. As you know, homeowners insurance is required to obtain a mortgage, but is there anything else you should know when it comes to your homeowners insurance and refinancing?
A good thing to know is that while you may be cautious to shop around for insurance, it won’t hurt to get some figures. This will help you determine whether it makes sense to stay with the company you are currently insured through, or if you need to make a switch. Many homeowners fall victim to staying with their insurance company even when their premiums continue to increase. If you have been noticing this pattern, it is a good time to get more quotes.
What is the best way to go about getting new homeowners insurance quotes? First, you can check with the company that already holds your policy. Ask your agent to review your policy and see if there are any changes that need to be made.
Next, you could reach out to captive insurance companies. For example, reaching out to State Farm insurance will get you a quote only from State Farm. If you wanted several different quotes to compare then you would need to reach out and fill out your information many times over.
Perhaps the best and most effect way to obtain several homeowners quotes is to ask an independent agent that has the ability to write policies for a diverse group of insurers. For example, iSCHURING allows you to enter in your information once and receive multiple quotes. Then, we can not only sell you the policy you choose, but you will also be a member of the iSCHURING family with your own representative to handle any questions that arise.
Refinancing your home can be exciting and overwhelming, but it pays to do due diligence and be sure that your homeowners insurance is up to par. With one quick step at iSCHURING, you can get multiple quotes to compare to your current policy and see if switching is right for you. As always, our agents are ready and happy to help with any questions along the way! Ready to start? Click here!
iSCHURING’s Resource Center is meant to provide an overview of the topic, rather than an in-depth review. When deciding how this information applies to your specific situation, we recommend discussing with an iSCHURING licensed insurance agent. Any information provided at iSCHURING may also need to be reviewed by an attorney or tax consultant to determine the best course of action for your unique situation. No information may be copied, reprinted or otherwise reproduced without the expressed written consent of iSCHURING.com.