Delaware Offers Prices from 53 Homeowners Insurers Online

May 29, 2007

Delaware Insurance Commissioner Matt Denn has unveiled an online homeowner insurance tool that compares rates from 50 insurers and complements an auto insurance rate comparison that has been available since November.

Denn said consumers will find that “prices among companies vary dramatically – sometimes thousands of dollars – for the same coverage. That’s why shopping around in general – and this website in particular – can be so important.”

To view rate comparisons for a simplified, sample profile, consumers select whether they are interested in homeowner, renter or condominium coverage; a level of coverage; a sample deductible; the type of construction of their home; the age of their home; and their zip code. Consumers will then see sample rates from 53 insurance companies for the hypothetical profile they have created.

Once consumers view rates for the simplified and sample profile, they can use the site to send a request to the companies they are interested for a personalized quote – a feature Denn says available from no other state insurance department site in the country.

“This is the most extensive and interactive insurance department rate comparison site in the country and I think is one of the most useful websites in Delaware state government. Everyone needs insurance and almost everyone could probably save some money if they compared rates,” Denn said.

The compare.delawareinsurance.gov website debuted in November with auto insurance rates and has received almost 6,000 rate requests so far, according to officials.

Other information available on the comparison website includes:

A list of auto and homeowner insurance discounts available from each company;

The rating of financial strength for each company, as determined by the independent rating agency A.M. Best; and

A link to the websites of many companies, with a link to find a local agent for others.

The address of the website is compare.delawareinsurance.gov , or it may be reached through delawareinsurance.gov.

Source: Delaware Insurance Commissioner

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