Paul Sanchez
Getting a homeowner's insurance quote can take anywhere from a few minutes to a few days, depending on various factors. Online quotes are generally the fastest option, often taking between five and fifteen minutes, while phone quotes can take between fifteen and thirty minutes. Quotes obtained in person from a local agency or branch can take anywhere from one hour to a few days. Quotes for high-risk homes or those requiring additional inspections and underwriting reviews may also take longer. Having all the necessary information, such as property details, personal information, and coverage needs, can help expedite the process.
| Characteristics | Values |
|---|---|
| Online | 5-15 minutes |
| Over the phone | 15-30 minutes |
| At an agency | 1 hour to a few days |
| Finalizing the policy | A few minutes to a few hours |
| High-risk homes | Longer due to thorough underwriting reviews, additional inspections and the need for specialized coverage options |
| Home inspection | A few days |
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What You'll Learn
Online quotes
The length of time it takes to get a homeowners insurance quote online depends on several factors, including the type of property you're insuring, whether it is a high-risk home, and whether you have all the necessary information.
To get a home insurance quote, you will need some basic information about yourself and your home, such as your Social Security number, property history, insurance claims history, home's square footage, home specifications (e.g., foundation type, roof style and type, garage attachment), and how much coverage you need.
If you have a high-risk home, the process may take longer due to thorough underwriting reviews, additional inspections, and the need for specialized coverage options. You may need to provide more documentation, such as proof of repairs, home upgrades, or risk mitigation steps, as well as photos, permits, or compliance records.
After obtaining a quote, it should only take a few minutes to finalize and purchase your home insurance policy, provided that you have supplied all the necessary information. However, it may take a few days for the insurance company to process your application and conduct any necessary inspections.
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Quotes by phone
Getting a homeowner's insurance quote by phone typically takes between 15 and 30 minutes. This method can be more accurate than an online quote, and an agent can help you choose a more customized policy with the types of coverage that fit your needs. Before calling, make sure you have the following information on hand to expedite the process:
- Personal information: full name, date of birth, phone number, email address, Social Security number, property history, and previous insurance claims history.
- Home information: square footage, year built, number of bedrooms and bathrooms, roof type, foundation type, and any safety or protective features (e.g., deadbolt locks, fire alarms, sprinkler systems, security systems).
- Mortgage information: name and address of your mortgage company, also known as the mortgage clause.
- Additional coverage needs: Consider whether you need flood insurance, earthquake insurance, or any other specialized coverage based on your location and the specific risks associated with your home.
It's a good idea to shop around and compare quotes from several providers to find the best policy for your needs. The entire process, from gathering information to finalizing a policy, can take anywhere from a few hours to a few days, depending on the complexity of your situation and the insurer's process.
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Quotes at an agency
The time it takes to get a homeowner's insurance quote at an agency can vary from one hour to a few days. This is because independent insurance agents often quote policies for multiple customers and several insurance products.
If you value having a local agent as a guide, this could be a good option. However, you will likely want to get quotes from several providers to find the best homeowners insurance company for your needs.
Before buying your homeowners insurance policy, the insurance company will send you a quoted estimate of how much your homeowners insurance will cost. To ensure a fast application process, make sure you’re ready to provide the following information:
- Residence and property information: details about your house to ensure the recommended coverage amounts are accurate, including square footage, home specs, foundation type, the style and type of roof, and whether or not the garage is attached to the home or is a separate structure.
- Build characteristics: information about your home itself, including its square footage, the year it was built, the number of bedrooms and bathrooms, its roof type, and more.
- Protective features: information about safety features such as deadbolt locks, fire alarms, sprinkler systems, and security systems can lead to policy credits and discounts.
It is important to note that the length of time it takes to get a homeowners insurance quote depends on various factors, including the insurance company, the age of your home, whether it is a new home, and the risk level of your house.
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Quotes in person
The time it takes to get a homeowner's insurance quote in person depends on several factors. Quotes in person can be obtained from a local agency or branch of a home insurance carrier, or from an independent insurance agency that represents numerous companies. This option is ideal for those who prefer face-to-face customer service and want to familiarise themselves with a local branch.
The time required for getting a quote in person can vary from one hour to a few days. The process typically takes longer because independent insurance agents often quote policies for multiple customers and several insurance products. Having all the necessary information on hand can help expedite the process. This includes personal information such as your full legal name, date of birth, Social Security number, and contact information, as well as insurance claims history and property history. You should also be prepared to provide details about your home, such as square footage, foundation type, roof type, safety features, and whether the garage is attached.
After receiving the quote, it may take a few days to a few weeks to finalise and purchase your insurance policy, depending on whether the insurance company wants to conduct a house inspection. It is recommended to shop for a homeowner's insurance policy at least three weeks before closing on your home to ensure enough time for comparison and to avoid any delays or gaps in protection.
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Finalising the policy
Once you have received a quote, it should only take a few minutes to finalise and purchase your home insurance policy, assuming you have provided all the necessary information during the quoting process. It is recommended that you do a final check of the coverage and the policy effective date. The effective date of the coverage is called the policy inception date, which is when the insurance starts on your home. Your lender must stamp their consent before your policy goes into effect.
If you are paying through your mortgage escrow account, you won't need to make future homeowners insurance payments to your insurer, and your first premium payment is usually included in your closing costs. It is important to note that not all companies offer online quoting, and you may still want to talk to an insurance agent to get your policy started and choose the ideal type of coverage for your budget and individual needs.
If you are closing on a home, you must purchase homeowners insurance or set up an escrow account to pay the insurance when it is due. Most insurers allow you to choose a policy effective date, but coverage won’t begin until your closing date. It is recommended that you shop for a homeowners insurance policy at least three weeks before closing on your home.
High-risk homes may take longer to insure due to thorough underwriting reviews, additional inspections, and the need for specialised coverage options. You may need to provide more documentation, such as proof of repairs, home upgrades, or risk mitigation steps. Not all homes require inspections, but they are more common for older homes or higher-value policies.
It is crucial to understand the components of a homeowners insurance policy and to have all the documents and information that your insurance company requires. This includes personal information such as your social security number, insurance claims history, and property history, as well as residence and property information such as square footage, home specifications, and safety features.
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Frequently asked questions
It can take anywhere from 5 minutes to a few days to get a homeowner's insurance quote. Quotes are often available in minutes, but finalizing coverage can take longer.
The time taken depends on the method used to obtain the quote, the type of property being insured, and whether all the required information is available. Online quotes are the fastest, taking 5-15 minutes, while quotes over the phone or in person can take 15-30 minutes and 1 hour to a few days, respectively.
Finalizing a homeowner's insurance policy can take anywhere from a few minutes to a few days. It depends on whether underwriting, inspections, or additional documentation are required.
