Introduction to Homesite Insurance
When it comes to a competitive insurance carrier, Homesite Insurance will definitely come up in your research. The company was founded in 1997. They initially became popular for being one of the first insurance companies to let you do your purchasing online. Since then, they have established themselves as an insurance company of note. They have a dedicated following, They are particularly popular with those who like to do their insurance shopping online, and for those who like to use computers and apps to handle virtually all of their needs. Homesite is fairly straightforward, and they have a number of possibilities to offer. They can be a particularly compelling company for anyone looking for a good deal of home insurance.
At the same time, there are some unfortunate elements to this provider that are worth keeping in mind. There are many people for whom Homesite can prove to be an excellent fit. That might be the case for you. Nonetheless, a good deal should be considered with a company such as this. In many ways, they are highly problematic.
The Basics Of Homesite Insurance
Some would consider the offerings of Homesite Insurance to basically hit the bare minimums. This is a fairly straightforward, no-frills insurance company. They also offer some discounts, and there are a few additions one can make to a basic package. Again, this is not an ideal company for someone who wants a ton of customization options, as they define their insurance needs.
Freeway is basically a good choice for someone who wants simplicity and affordability. If you know for a fact that you don’t need a lot from your insurance company, including customer service, then you may want to give them a call. While low rates are unquestionably important, it is always a good idea to keep in mind that there is more to an insurance company than just cheap rates. Homesite definitely meets your needs on that front. They have also been around for more than twenty years, which is not a bad lifespan for an insurance company by any means.
Still, it is best to dig deeper into the pros and cons of this insurance company. For example, while they are affordable, their customer service rating is absolutely dismal. Furthermore, Homesite Insurance offerings on the discounts side of things is a little lackluster, as well. These things can be deal breakers for many people who are trying to find the best possible insurance.
Pros And Cons Of Homesite Insurance
If you want good prices, and pretty much nothing else after that, Homesite might be a good call. However, if your insurance needs are even remotely complicated, or involve more than a couple of people, Homesite may not be a good idea. Depending on where you live, it is entirely possible that you will need certain forms of coverage that are simply not available through this provider. This is why it is always important to do as much research as possible on your potential carriers. So many people are so concerned with getting the most competitive rates possible, they sometimes fail to look beyond those quotes. We would certainly suggest looking further with a company like Homesite Insurance.
When we get to coverage options, as well as discounts, things get a little shakier. Affordability is fine, until something happens to go wrong. The costs associated with not having certain types of coverage can instantly offset your savings in certain situations. While they might be cheaper than companies like State Farm and Allstate, those are companies with better reputations in key areas. For example, they offer more options and discounts. They also have better customer service scores.
On the customer service side of things, there is a lot you want to keep in mind with Homesite.
How Does Homesite Insurance Fare With Customer Service?
Customer service is generally important to us under any given circumstances. Homesite Insurance is what is known as a direct insurance company. This means that you are not going to be able to speak to an actual Homesite agent at any given time. For many homeowners and others, the need to have a human agent in your corner is an invaluable one. There is a considerable peace of mind that can come with knowing you have an agent who can help in the event of a crisis.
Should you have to file a claim with Homesite, you may find the experience to be a frustrating one. Many people have derided Homesite for an unnecessarily prolonged claims-filing process. Compared to some of the other companies out there, Homesite has a rather spotty record with paying claims quickly. Again, we understand the appeal of great rates. However, when you’re dealing with a slow, unresponsive claims process, the benefit of those rates suddenly begins to pale.
If you know of J.D. Power, then keep in mind that their own report on Homesite Insurance isn’t very positive. While they make note of those low rates, they also cite the fact that Homesite has a poor customer service reputation on a number of levels.
What Else Can You Expect From Homesite Insurance?
Upon closer examination of everything Homesite has to offer, you will find a pretty standard set of coverage. There are some optional coverages that you will want to understand, as well. Identify theft protection is available through Homesite, in addition to stuff like personal injury protection, or coverage for certain special items/valuables. There are also some extended coverage options.
The coverage for special items/valuables includes things like jewelry, paintings, and other items along those lines. One nice thing about Homesite is that they offer a type of coverage known as open perils. This means beyond anything explicitly mentioned in the policy, your valuables will be protected from anything you can imagine. This is one of the better examples of what you can find with Homesite Insurance. Their personal injury coverage is also solid, covering such possibilities as slander claims, instances of libel, or any instance of an invasion of your privacy. Extended coverage can also be added to your policy. This can range anywhere between 25% or 50% of the existing coverage for your dwelling.
We should also reiterate that while the discounts from Homesite are comparatively skimpy, they do nonetheless exist. In terms of Homesite Insurance discounts, there are a few things to keep in mind.
Homesite Insurance Discounts And More
The discount aspect to Homesite is quite frankly a little confusing. Yes, Homesite offers a number of discounts. You could even go so far as to say that some of those discounts are pretty impressive. However, actually getting these discounts is where things can go awry.
Several factors are going to determine whether or not you qualify for one discount or another. The availability will be dependent upon where you live in the United States. It will also be dependent upon the specifics of your policy. Finally, it will even depend on which underwriting company Homesite chooses to write your policy. All of these elements will determine if you can apply for Homesite Insurance discounts at all. You should also understand that none of these discounts are actually unique to the provider. In other words, you can just as easily get those discounts with a different provider who better meets your assorted needs.
The discounts, if you can get them, are not bad by any means. You can get discounts for bundling auto and home insurance. You can get discounts for purchasing coverage at a certain age. If you have alarms for fires or burglaries, you can get additional discounts. There are also discounts available for those who have a roof that is ten years old or less. New construction on a home in general can lead to some compelling discounts, as well.
Again, while these discounts are solid, they are not spectacular by any means. Furthermore, you may not even be able to apply for them in the first place. If any of their discounts interest you, it is definitely a good idea to look into that before signing anything.
In terms of financial strength, Homesite Insurance rates quite highly with respected publications like J.D. Powers. This translates as knowing that if you do have to file a claim, Homesite will have the financial resources necessary to ensure that claim is paid. That is certainly a comfort, but you could argue that it’s a small one when compared to some of the more problematic elements associated with this company.
At the end of the day, Homesite is great for simple needs. It works best with people who are looking for little more than the cheapest home or auto insurance available. While that is important, there are issues with Homesite that should be ignored. The customer service reputation is worth mentioning again. Homesite is going to need to do a great deal, if they want to get better reviews in that department. Homesite can work for some. Nonetheless, most people should consider going somewhere else to meet their various insurance needs.