Information You May Need for a Homeowners Insurance Quote | Travelers Insurance (2024)

FAQs

What does an insurance company need for a quote? ›

To get a homeowners insurance quote, you'll typically be asked to provide identifying information such as your birth date and Social Security number, as well as the address of the home you want to insure. The coverages and limits you request will help determine how much you'll pay for a policy.

You need enough homeowners insurance to cover the cost of rebuilding your home if it's destroyed. For your belongings, you'll generally want personal property coverage limits that are at least 50% of your dwelling coverage amount.

How many quotes should I get for homeowners insurance? We recommend getting quotes from at least three home insurance providers. This will give you a broader comparison of coverage options and rates.

Most homeowners insurance policies provide a minimum of $100,000 worth of liability insurance, but higher amounts are available and, increasingly, it is recommended that homeowners consider purchasing at least $300,000 to $500,000 worth of liability coverage.

The information that's needed to get insurance is personal details including your full name, address, driver's license number and Social Security number. Carriers also want to know about your driving record and the make, model, year, mileage and VIN of your vehicle.

Homeowners insurance policies generally cover destruction and damage to a residence's interior and exterior, the loss or theft of possessions, and personal liability for harm to others. Three basic levels of coverage exist: actual cash value, replacement cost, and extended replacement cost/value.

When it comes to insuring your home, the 80% rule is an important guideline to keep in mind. This rule suggests you should insure your home for at least 80% of its total replacement cost to avoid penalties for being underinsured.

Which home insurance company has the highest customer satisfaction? ›

Bottom line. To know if you have the right amount of homeowners insurance, start by getting an estimate on rebuilding your home. From there, look at the value of your possessions, how much it would cost to live somewhere else and what you might pay if someone was hurt in your home.

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Some factors that may affect your auto insurance premiums are your car, your driving habits, demographic factors and the coverages, limits and deductibles you choose. These factors may include things such as your age and your driving record.

When you request auto insurance quotes, some providers ask for your Social Security number. In states that allow it, providers use your Social Security number to review your credit report and determine your credit-based insurance score. It's one of the factors insurers in most states use to determine your premiums.

Do I Have To Pay The Insurance Agent A Fee? Insurance Agents get paid a commission (percentage of your premium) from your insurance carrier. You do not pay insurance agents directly. Instead, every time you make a premium payment, the insurance carrier pays the set commission rate to the agent or agency.