This article may contain references to some of our advertising partners. Should you click on these links, we may be compensated. For more about our advertising policies, read our full disclosure statement here.
This post is sponsored by Progressive Insurance.
Hey Thriftaholics! Welcome back.
Today, we’re chatting about one of the most exciting and fascinating topics in all of personal finance: Homeowners insurance.
That’s right, buddy! Make sure your socks are bleached because I’m about to blow them right off. And I know you don’t want people finding your stained socks laying in the street, do you? DO YOU?!? Your mom would be so embarrassed.
I know, I know. Swapping insurance stories may not get your blood pumping… but I bet I know what might: Saving money. If you’re like me, the thought of saving even a few pennies sends your world into orbit! It’s like getting a piece of chocolate cake on your birthday… with a side of ice cream… and extra chocolate. *Droooooool*
Anyhoo, how’d you like to learn about possibly saving hundreds on your homeowners insurance? Now, I know I’ve got your attention.
Good news! We’ve teamed up with Progressive Insurance to tell you about a new tool that could help you do just that. Let’s take a look!
What Is Homeowners Insurance?
So, why do you even need homeowners insurance anyway? Well, that’s a good question.
If you own a home, homeowners insurance helps protect your assets from a variety of different issues. For instance, if your roof is damaged by hail or your house burns down in a fire, your homeowners policy may cover the cost of repairing or rebuilding your house. It may also cover structures that are not attached to your home, like a fence, garage, or deck.
Sounds good right? Even better, homeowners insurance doesn’t just cover the structures; it may also cover the belongings inside of your house or garage. Most importantly, homeowners insurance may help protect you and your family if you accidentally damage somebody else’s property, injure another person, or somebody gets hurt on your property. These can be extremely costly situations, and a good homeowners policy is essential for protecting everything you’ve worked so hard to build.
Homeowners Insurance Best Practices
While homeowners insurance is not required by law, most mortgage companies insist you carry homeowners insurance as part of their loan agreement. This doesn’t just protect you; it helps protect the mortgage company from taking a loss if something unforeseen happens. Even if you’ve already paid off your house (or you paid cash for it), carrying a homeowners policy is still a huge part of sound financial management. Remember, just one incident could wipe out your entire life’s savings.
Of course, it makes sense to shop around before you settle on a policy. Be sure to compare prices as well as policy terms and exclusions. As with other types of insurance products, I always recommend comparing rates between companies at least once a year. Taking this simple proactive step could save you hundreds of dollars a year on insurance costs alone.
Compare Multiple Homeowners Rates in One Place
In the age of the Internet, you’d think comparing homeowners insurance quotes would be easy, right? Wrong… well, until now at least.
Progressive’s HomeQuote Explorer makes shopping for homeowners insurance a piece of (chocolate) cake. Progressive is the only insurer that let’s you instantly compare multiple homeowners policies from multiple companies all in one place. Here’s how it works:
- Check out Progressive’s HomeQuote Explorer here and click “Get a Quote”
- Enter the address of your home
- Through a public records search, Progressive automatically completes as much info as possible
- Use the pictures provided to identify your roof type, countertops, and more
- Based on your answers, Progressive will search their large network of insurers for the best rates
- Instantly compare multiple homeowners quotes, side-by-side, all in one place
It’s super simple, took me just a few minutes, and it could save you some serious money on your homeowners insurance. Sounds pretty good, right?
You know me, and you know that I’m always down to check out some free money tools. It’s even better when those tools actively help me save.
Progressive’s HomeQuote Explorer makes it easier than ever to protect what you love. With a side-by-side comparison of homeowners quotes, you can easily find the homeowners coverage you need at a price you can afford…all in one convenient place. For more information on HomeQuote Explorer, check out this short video, and let me know what you think in the comments below!