Best Homeowners Insurance Agencies in St. Louis

Frequently Asked Questions

• Introduction

  Homeowners' insurance is a type of property insurance used by private property owners to protect their home and property from a range of risks and liabilities. It is also called home insurance.
  

  
  

  All homeowners' insurance policies cover the primary home on a property, meaning that most damage from weather, accidents, vandalism, and other events will be at least partially paid for by the insurance company. Many policies also include coverage for other structures, personal property, and some premises liability.

  
  

  It is not required by law that a homeowner purchases insurance for their property. However, if you have a mortgage, the lender will usually make purchasing a homeowners' policy a mandatory part of the loan process. Since the mortgage lender is essentially selling you the home, they require you to protect the investment.
  

• What can you do if your homeowners' insurance premiums in St. Louis increase?

  If you have the time, look for another insurer in St. Louis. However, insurance companies typically send out renewal notifications 30 days before the expiry date, which may not be enough time for you to find a suitable one. If the deadline is approaching, you can work with your insurer until you make a final decision. If your homeowners' insurance premiums have doubled over the last year, contact the Insurance Consumer Hotline at 800-726-7390.

• Do you need homeowner's insurance to apply for the Healthy Home Repair Program offered by the City of St. Louis?

  Yes, having homeowners insurance is one of the requirements for approval. Other requirements include having lived in the St. Louis home for at least two years and being current on the mortgage and taxes. The Healthy Home Repair Program assists low- and moderate-income households in the metro area. For more information on the program, call (314) 657-3700. Its headquarters are located at 1520 Market, Suite 2000, St. Louis, Missouri 63103.

• Can you be covered with homeowner's insurance in St. Louis if your basement was flooded due to heavy rain?

  Standard homeowner's insurance policies typically do not cover flood damage. You have to buy a separate policy or get an add-on to your homeowner's insurance in St. Louis. Flood insurance provides financial coverage for content and structure damage in the event of excess water brought about by spring thaw, heavy rains, storms, and backup sewer.

• How can additional living expense coverage in an insurance policy help a homeowner in St. Louis?

  Additional living expense coverage provides financial benefits to homeowners who are unable to live in their homes temporarily due to an event covered by the policy. Rental fees, hotel costs, restaurant bills, and pet boarding fees are all possible expenses that may be covered. Vandalism, theft, fire, and explosions are some of the events covered by standard homeowners' insurance policies in St. Louis.

• Do insurers consider a St. Louis homeowner's credit score when determining insurance rates?

  Depending on the insurer. Some insurance companies rely solely on credit scores to establish premiums. Others utilize the credit information alongside rating factors such as the claims history. Check with a number of St. Louis-based insurance providers to find the best rate. Note that a Missouri statute prohibits insurance companies from using credit scores as the sole criterion for accepting or rejecting a homeowner's insurance application.

• What determines the price of homeowners insurance premium?

  The premium, or monthly cost, of your homeowners' insurance policy depends on several factors, including the value of your home and amount of coverage you choose. Your credit history and whether the property is in a higher risk area also play a role.