House Insurance Comparison: Overview of Factors That Affect Rates & How You Can Choose a Policy

As with any type of insurance, you are probably interested in getting the best possible deal on home insurance. Thankfully, there are tools that make it possible to not only search for policies, but to do house insurance comparison with multiple quotes to find the best one for you.

For some homeowners, price matters more than anything. This should not be the case, though, since overall value is more important than cheap rates. Consider both the premiums and deductibles. Think about the rebuilding costs of your home. How much will it cost to literally replace everything is your home and property is utterly destroyed? The current value of your home and the rebuilding price will not be the same. Try to estimate how much you will be able to afford to pay in deductibles in the worst case scenario and keep that in mind when doing house insurance comparison.

Here are some of the factors that affect the insurance quotes you will get:

• Home’s type of construction and age

• Location

• Credit score

• Deductible

• Certain risk factors (swimming pool, trampoline, aggressive dog breeds, etc… )

• Claims history

• Roofing material

• The yard / property / landscape

Older homes have a higher chance of something going wrong regarding the electric wiring, plumbing, HVAC systems, ceiling, and construction in general.

House Insurance Comparison of Coverage Types

There are certain things that general home insurance policies don’t cover. Make sure you know exactly what is covered and what isn’t before you make your choice. Sometimes it is the matter of gaps in the coverage, where the policy owner thought they were protected but either had incorrect or insufficient coverage. Such issues can be avoided by carefully reading over the terms of each quote you are provided with.

Flood insurance, for instance, isn’t always covered in basic policies. If you live in an older home and have concerns about plumbing, or live near a body of water, this is something you will definitely want to think about. All it takes is a few inches of water to utterly destroy your flooring and some of your furniture. Even a small stream can become a raging river if there is enough rain.

Discounts are sometimes available, especially if you install safety and security equipment.

Where can you get started with house insurance comparison? All you have to do is look into the unique insurance platform set up by Lemonade. It even has a neat AI bot that will help craft the perfect insurance for you. Get affordable, reasonable rates – especially if you use Lemonade House Insurance discounts.

Recession, Inflation & Housing – Home Prices Fluctuate, Real Estate Market Responds to the Economy

Amazingly, financial reporters still are reluctant to say the American economy is in recession (which it most obviously is). Hence when inflation fully shows its ugly face, expect housing prices to catch up with oil which already accounts for the dying dollar (a currency no longer carrying much weight with OPEC as a basket of currencies is being embraced and the Euro and yen are taking preeminence).

Undoubtedly inflation and the recession caused by it shall weigh heavily on the Fed and we the American people. Since it seems financial reporters are usually about a year or two behind the actual occurrences in the market (that is reporting them honestly to the general public), always choosing to use colorful and positive language, it may be another year or two until we see the true signs of inflation in the real estate market. A big spending, pro-inflation government however will always prove inflationary when it comes to U.S. currency (since this sneakily reduces their repayments).

The U.S. economic forecast remains bleak to say the least. Latest reports released show that consumer-level inflation remains steady, while the housing slump shows no signs of improvement.

The U.S. consumer price index (CPI) rose 0.3% in March while the core rate, which excludes food and energy prices, was up 0.2%, following flat readings in February.

Energy prices are rising at a 17.0% year-over-year pace. Gasoline prices rose 5.2% and are up 26.0% from a year earlier.

Recent inflation reports underscore and highlight the the Federal Reserve’s ongoing challenges. “Ongoing hefty gains in headline prices will continue to needle (policymakers) despite the Fed’s near-term focus on economic risk, as the Fed faces an inflation problem that may have greater shelf life than the problems in the financial industry,” says Action Economics.

U.S. housing starts plunged 11.9% to a 0.947 million annualized rate in March, though after an upwardly revised 1.075 million pace in February (1.065 million before). Markets expected a more modest fall to 1.003 million. Starts are down 36.5% over last year. Permits fell 5.8% to a 0.927 million pace, and are down 40.9% over last year.

Contracts for housing will remain dismal as the recession deepens and the media hype dies down to the tune of reality.