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Different Ways to Compare Home Insurance Companies

Buying a new house means a lot of planning, you compare among various properties to make the right decision. Similarly, it is the same process for finding the right home insurance policy within your budget. When comparing home insurance policies, you should also consider the best home insurance companies. Below in this article, there are a few pointers that you must consider to choose the best home insurance company for you.

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Why Is It Compulsory to Choose the Best Home Insurance Company?

Benefits under your plans are based upon your needs, budget, and coverage. That is why it is important to consider the best insurer that can custom fit your needs. Also, our home and its components are probably the most valuable belonging. And the risks associated with it can be secured with the right home insurance policy. Below we have discussed a few ways of comparing the best home insurance company for you.

12 Different Ways of Comparing Home Insurance Companies

To decide which company is the best for a home insurance policy can be a rambling decision for you. Also, with the several options available for the home insurance company, it becomes a more difficult task. To make it easy for you, we are here with different ways of comparing and choosing the best home insurance company.

1. Consider the History of the Company

Do well research on the internet and shortlist the prospective home insurance companies covering all your needs and are within your budget. After then know about those companies, by going through their history.

You must try to cover different aspects like- customer ratings and feedback, general feedback, after-sales services, successful serving years, social media pages, claim settlement process, etc.

Considering all these things will help you in knowing the real history &amp health of a home insurance company and will also give you a fair idea about the pros &amp cons of a particular policy.

2. Consider Type of Coverage

What type of coverage do you want will help you in deciding the premium rate. So, you must know the type of coverage you are looking for, and it should cover all the risks your house might be prone to. Let's imagine you reside in an area near to the sea, there are chances you might frequently get hit by cyclones or water-related calamities. So, you should ideally choose a policy that provides extensive coverage for such disasters.

3. Compare Premium Amount

The policy premium rate is another factor in making the right choice for the policy. After all, several home insurance companiesare offering different price quotes for various coverage. We recommend you fix your budget at the beginning and then choose accordingly.

If you are unable to make your regular premium payments, your policy will be cancelled in between. Moreover, compare multiple policies from your shortlisted home insurance companies as per your budget.

4. Check Claim Settlement Process

Always check the claim settlement process before finalizing the insurer for yourself. Fixing the damages is quite stressful, so you must opt for a hassle-free process. A quick settlement means turnaround time is less, and it helps determine a company's efficiency.

5. Know Your Coverage Needs

Every type of house has its structure, geographical location, type of material used, market value, etc. Also, each individual has their own demand, and not every policy coverage is suited for everyone.

Each policy has its own characteristics and covers different types of risks. Therefore, you must find a policy covering all the aspects of the risks to your house and offering you relevant coverage.

6. Choose Add-on Covers Wisely

There are several add-ons covers available under your home insurance policy. If you are a homeowner who wants to rent their property to the tenants, then loss of rent cover is suitable for you.

Similarly, there are other add-on covers like key and lock replacement cover, ATM withdrawal robbery cover, etc. So, you must buy an add-on cover as per your requirement with your comprehensive insurance policy.

7. Look for Online Quick Quotes

Instead of going offline mode for purchase, you can look for online-quick quotes. It will help you in gathering information about multiple policies from different home insurance companies. Also, you do not have to pay for agent commission when buying it online. Therefore, search, compare and choose online quotes when possible from different insurers.

8. Check the Cost of Deductible at the Time of Calculating Premium

While calculating your premium amount for the selected policy, you must also consider the cost of deductibles charged with that policy. As the higher deductible amount means lower will be your premium.

9. Ask for Quotes from Your Existing Home Insurance Company

If you are an individual who wants to change the insurer or are in the process of renewing a policy, then you must request a quote from your current insurance provider. Sometimes, your existing insurer also offers you the best rates at the maximum coverage because of the loyalty factor with the company. So, we recommend you do not forget to request an insurance quote from the existing insurer.

10. Consider After-sales Services

Similar to the claim settlement process, this is one of the factors you can consider while choosing the home insurer. Honestly, the after-sales services are what matters more than pre-sales services. So, it is suggested to pay attention to this factor and see how fast your insurer is responding when you needed them the most, especially at the time of query solving or eliminating issues.

11.Opt for Long Term Plans

Generally, the insurer offers annual plans. So, we suggest you look for those home insurance companies offering long-term plans for three or five years. These policies offer more discounts, complimentary services, and the most important thing is no hassle for renewal of policy annually.

12.Read the Policy Documents Carefully

While finalizing the policy, it is important to read policy documents carefully. There are terms &amp conditions, exclusion, benefits, etc. are associated with a policy. So, understand the benefits it offers from various home insurance companies.


Buying a home insurance policy is a vital decision for you. So, choose your insurer wisely and provide the correct information about your property, address, &amp location while filling out the proposal form. Also, never believe the information blindly provided by the insurers, instead research on your own for a wiser investment.

Written By: PolicyBazaar - Updated: 15 March 2022
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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Reviews & Ratings

4.4 / 5 (Based on 120 Reviews)
(Showing Newest 10 reviews)
Bokaro, July 26, 2022
Coverage for natural calamity
I was looking for an insurance policy that provides me coverage for natural calamity. Since my house is located near a river and it floods my area in the rainy season. So i went on the Policybazaar website and particularly look for this coverage found the exact plan that provides this coverage.
Bilaspur, July 26, 2022
Premium Calculation
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Bikaner, July 26, 2022
Natural Calamity cover
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Amritsar, July 26, 2022
Enough coverage
I was looking for a home insurance plan online. I was fed up as i have to visit different websites to look for a single suitable insurance plan. However, i stumbbled upon Policybazaar website where i was able to find the right insurance plan that could provide me enough coverage.
Bareilly, July 26, 2022
Nice customer service
I wanted to purchase a home insurance policy and a friend of mine suggested to purchase it from Policybazaar. I bought the policy and after that i had a confusion regarding exclusions so i called up Policybazaar customer care and they cleared out the confusion and i loved their customer service.
Ajmer, July 26, 2022
Qiuck claim
I purchased a home insurance policy recently. However, due to a natural calamity, my house was damaged as the pressure of the water because of flood broke the enterance door of my house. But the insurance plan that i bought got me covered and i as able to get the quickest claim possible.
Delhi, July 26, 2022
Natural calamities covered
I bought a home insurance policy recently. As i live near a river and in the rainy season, my area gets flooded so in order to protect my house and its contents, i purchased the insurance to get coverage for such natual calamities and i am tension free now.
Kolkata, July 26, 2022
Wide coverage
The home insurance plan that i purchased from policybazaar's website is a great plan that provides me coverage for not only the structure but also cover several expensive content of the home such as paintings, mobile phones, laptops, television, etc.
Ahmedabad, July 26, 2022
Suitable insurance plan
I purchased the group health insurance policy from Policybazaar website. First of all, i did not have to wander much online while lookig for a home insurance plan that fits my requirement and i found the suitbale home insurance plan by comparing different plans on the website.
Amritsar, June 09, 2022
Natural calamities covered
I bought a home insurance policy recently. As i live near a river and in the rainy season, my area gets flooded so in order to protect my house and its contents, i purchased the insurance to get coverage for such natual calamities and i am tension-free now.
  • Disclaimers+

    #Savings of 28% are based on the comparison between the highest and lowest premiums for a pucca building with sum insured of >₹ 1 crore at Delhi, for property age less than 5 years and policy term of 11 years.