Not only does Esurance offer a broad range of potential discounts on both home and auto insurance, the company also has a user-friendly app that makes it a breeze to submit a claim. If you prefer a digital experience that’s fast and pain-free, Esurance homeowners insurance could be an ideal option for you.
The Specs
| Price | Varies by location, home details and coverage level |
| Best for | Those who want a variety of add-on coverage options |
| Not for | Those who prefer a non-digital experience |
| States served | All but Montana, New Hampshire, Vermont and Wyoming |
| Discounts | DIY Inspection App Multi-policy Burglar Alarm Smoke Detector Water Safety System Storm Shutters Hail-Resistant Roof Non-Smokers |
| A.M. Best Rating | A+ |
| Standout features | 24/7 claims reporting Variety of discounts available |
The Claim
Esurance promises multiple types of discounts for homeowners insurance, including a $50 decrease if you perform a DIY inspection using their app. It also claims major savings if you bundle your Esurance home insurance with an auto package.
Is it True?
Sort of. You can get an automatic $50 discount using the DIY Home Inspection app, although the price reduction only applies to your first term. Esurance also breaks down the potential for savings into two categories: home safety features and policy-based discounts.
Working systems like burglar alarms and smoke alarms can potentially save money, as can storm shutters, a hail-resistant roof and going a year without making a claim.
You can also qualify for policy discounts if your home is new construction or if you opt into auto-pay on your plan. Some of Esurance’s advertised discounts use vague language implying that they’re not guaranteed and some even seem conflicting. For example, there’s a “Welcome Home” discount potentially applied to the first two years of your policy, but also a “Loyal Customer” discount that might be applied when you renew.
Just how much all of these potential discounts end up saving you in reality can only be seen when you compare Esurance to other offers.
Our Deep Dive
- Additional Living Expenses Coverage: This feature covers the cost of your accommodations in case your home is temporarily unlivable due to a covered incident.
- Other Structures Protection: Include anything that’s not attached to your home, like a free-standing garage or shed, in your standard policy.
- Water Back-up Coverage: This doesn’t include flood insurance, but it does cover your home for damage caused by burst pipes or overflowing drains.
- Medical Coverages: Esurance homeowners insurance comes with guest medical coverage up to $5,000 in case someone gets hurt on your property.
- Family Liability Protection: Also included is default personal liability protection up to $100,000 or you can add more. The money can help pay for your legal defense if someone sues you after getting hurt on your property or if you damage someone else’s property.
- Fire Department Charges Coverage: If you ever need help from your local fire department and are charged a fee, it’ll be covered by your policy.
- Esurance Mobile App: You can file a claim anytime of day or night through the convenience of the Esurance app.
- Home Insurance Calculator: Before you get a quote on your Esurance home insurance, figure out how much coverage you really need.
- Add-on Policies: Get additional coverage with a la carte options such as identity theft expense coverage, fair rental income protection and building codes coverage.
Cost Rundown
All insurance carriers create a customized policy package for each individual applicant. Your quote is based on a variety of factors, including the details of your home, your own credit history and where you live.
In addition to basic coverage, you may also opt to add on extra policies that increase the cost. Flood and earthquake coverage, for instance, can protect you if you live in an area prone to these issues. Alternatively, if you have a large amount of outbuildings on your property or rent some or all of your space, extra coverage is also ideal.
Cheaper (or Free!) Alternatives
If there’s one thing Esurance is known for, it’s the amount of available discounts. The only catch is that there is no guarantee that you’ll qualify for each one. According to customer reviews, however, Esurance quotes are among the lowest out there, so clearly the variety of ways to save can really work out to your advantage.
Here are some other ways you can save on your homeowners insurance:
- Compare offers closely. Different companies have different criteria and coverage. Shop around to find the one that’s not just cheap, but gives you the right amount of coverage for your home and circumstances.
- Maximize your discounts.Check out Esurance’s discounts carefully to make sure you’re benefiting from them as much as possible. Simple measures like installing smoke detectors or a burglar alarm can keep you safe and save you money.
The Competition
Farmers: Although Farmers is known for a strong customer experience, this carrier only earned average ratings across all categories in the J.D. Power 2019 U.S. Home Insurance Study. Esurance isn’t ranked in the survey, but its parent company, Allstate, also maintained average rankings. Thanks to the Esurance app, it would be interesting to see how this tech-friendly arm matched up against its competitors.
USAA: USAA ranks above average across all categories, including price and policy offerings. The company offers hyper-specific plans designed for a number of property types, including condos, mobile homes, valuable personal property and farms and ranches.
Nationwide: Despite having a large presence, Nationwide ranks among the lowest home insurance companies in the J.D. Power survey. Its lowest-ranking categories include price, billing process and interaction.
Erie Insurance: This is another stand-out insurance company, scoring among the highest in the J. D. Power survey. They also have a great online presence, from helpful blog posts to real-life stories of extraordinary circumstances faced by their customers.
What Others Are Saying
- Yahoo! Finance reported in September 2019 that in preparation for disaster season, Esurance is a leader in making the claims process as easy as possible for policy holders. “Esurance is making auto and home insurance surprisingly painless, and that includes ensuring consumers have the information and the coverage they need to be properly protected,” said Yahoo! Finance. Helpful tools include offering photo claims, a coverage counselor and an easy mobile app.
The Bottom Line
Despite some vague language surrounding how easily you’ll qualify for each available discount, most Esurance users report an easy application process and low rates. It’s definitely worth checking out to see how much you can save on your homeowners insurance.
The post Esurance Homeowners Insurance Review appeared first on The Simple Dollar.
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