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Consumer Reports' new home insurance rankings and how to compare your coverage

by Consumer Reports

Buying homeowners insurance isn’t a particularly sexy task. It’s a decision that hinges on getting enough coverage, especially without overpaying.

Researchers at Consumer Reports have tips to help you make sure your home and its contents are well-protected at the best price.

The right homeowners insurance can help protect you. Once your home is assessed, you can determine how much insurance you need. Consumer Reports recommends insuring your home for the full replacement cost. You don’t want to be under insured in the event of a catastrophe because you may have to completely rebuild.

Also, explore ways to lower your premiums. Websites like Insure.com NetQuote and SelectQuote can make it easy to comparison shop in your pajamas.

When Consumer Reports asked members to rate their experiences with insurance companies, four stood out for overall satisfaction, including Erie and Auto-Owners (not available in Washington). The two at the very top of the ratings were USAA, which mainly deals with people in the military, veterans, and their families -- and Amica. They’re not available on homeowners insurance sites, so if you want to get rates for them, you’ll have to contact them directly.

Also, look into bundling home and auto insurance from the same company. It may save you as much as 30%. Also, consider raising your deductible. Higher deductibles equal lower premiums.

You can also shave your premiums by making certain home improvements. Replacing old plumbing, adding a security system, and installing water or gas-leak detection sensors can trim 2 to 6% or more from your bill.