In Brighton, Colorado, homeowners pay an average home insurance rate of $1,491 which is almost the same as the national average premium of $1,438. Below are some of the factors that Brighton homeowners should consider before choosing the home insurance company that best suits their coverage needs.
A.M. Best Rating
Financial strength is referred to as the capacity of an insurance company to grant current policyholders’ claims. Brighton homeowners are recommended to opt for home insurance companies with high financial strength ratings. A.M. Best rates home insurance companies based on their financial strength. Brighton homeowners can follow these ratings to identify home insurance companies with a high financial capacity.
J.D. Power Score
J.D. Power awards home insurance companies with a score based on the feedback collected from current policyholders. The customer satisfaction score of an insurance company is calculated using policy coverage, insurance rates, discounts, customer handling, and the speed at which a claim is processed. Brighton homeowners can use the J.D. Power Score to choose insurance companies that ensure the satisfaction of policyholders.
Home insurance companies use different parameters to calculate home insurance rates. Home insurance quotes can differ from one insurance company to another. Brighton homeowners should obtain quotes from multiple home insurance companies to choose the cheapest one. Homeowners should also consider the add-on policies offered by home insurance companies, in addition to the standard home insurance policy.
Deductibles Vs. Insurance Rates
Brighton homeowners can opt for high deductibles to lower their home insurance. The deductibles and the corresponding reduction in home insurance rates differ from one home insurance company to another. Brighton homeowners are advised to choose the home insurance company that offers the highest discount for their deductible.
Claims Processing Speed
Home insurance companies should be swift in processing the claims of homeowners. Homeowners are generally given a time period of 10 to 30 days to file a claim in case of damages. Once submitted, home insurance companies take a maximum of 40 days to review the claim and accept or deny it. Brighton homeowners are suggested to choose home insurance companies with a simple and swift claims processing system.