Policygenius home insurance review | finder.com

Policygenius home insurance review

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Policygenius homeowners insurance
Policygenius homeowners insurance
  • Personalized approach
  • Partners with top-rated providers
  • Switch hassle-free
Find out more Go to site

Spend less time shopping around with this broker, which collects personalized quotes from 12 carriers.

  • Get a quote if you want to compare 12 home insurance providers in one place.
  • Pick something else if you need a quote right now or already have your top contender.

Pros

  • Personalized approach
  • Top-rated partners
  • Hassle-free paperwork

Cons

  • 2-day turnaround
  • Small pool of providers
New home discount discount Yes
New homeowner discount Yes
Home safety features discount Yes
New policy discount No
Bundling discount Yes
No claims discount No
Other discounts Automatic payment discount, Personal relationship status discount, Environmental discount, Non-smoking discount
Dwelling coverage Yes
Personal property coverage Yes
Valuable personal property Yes
Dwelling coverage Yes
Theft coverage Yes
Fire coverage Yes
Flood coverage Yes

What home insurance coverage does Policygenius offer?

Policygenius doesn’t sell home insurance directly. It partners with a range of top-rated carriers and compares quotes for the following types of coverage:

  • Homeowners 1 (HO-1). The most basic form of homeowners insurance, these policies provide coverage for “named perils” or disasters, such as fire, lightning, windstorms, hail, smoke, riots, explosions, vandalism and theft.
  • Homeowners 2 (HO-2). Like HO-1, these policies only cover specific perils. These include all of the above, plus falling objects, frozen plumbing systems and water damage from burst pipes.
  • Homeowners 3 (HO-3). The most protective option, “open perils” policies cover all disasters except common exclusions. No homeowners insurance company will pay for the damage caused by earthquakes or floods (though you can purchase separate policies for these), power failures, wars, nuclear explosions, neglect or intentional acts.
  • Other. Most insurers offer coverage for other types of houses including older homes, condos, co-ops, mobile homes and rentals.

What discounts can I get with Policygenius?

This comes down to your provider. Most homeowners insurance companies offer a range of discounts that can drive down your premium. You may qualify for these discounts, depending on the insurer you’re matched with:

  • First-time homeowners. Congratulations! Many insurers treat new homebuyers to discounted insurance.
  • Added security. Have you installed a sophisticated security alarm to your home? You may earn a discount.
  • Nonsmokers. Insurers reserve their best rates for nonsmokers.
  • Couples. With most insurers, coapplicants won’t be charged double.
  • Bundling. Purchase your home and auto insurance with the same carrier, and you’ll most likely be rewarded with a discount of up to 20%.
  • Affiliation. Some insurers partner with employers, trade associations and membership groups. Before signing the dotted line, ask your carrier for a list of group discounts.
  • Occupation. Some insurers provide discounts to people in certain jobs or industries.
  • Pay in full. Pay your premium upfront, rather than monthly, and you could save between 2% and 8%.

Pros and cons of Policygenius home insurance

Pros

  • Personalized approach. Submit some basic info about yourself and your home, and an insurance expert sets up a call within 24 hours.
  • Partners with top-rated providers. The company collaborates with big-name brands like Safeco, MetLife, Stillwater and AIG. It’s worth noting that Policygenius’ advisors are salaried, not commissioned.
  • Accurate quotes. You’ll get tailored quotes, rather than estimates.
  • Excellent customer service. You can chat to the team via phone, email and live chat.
  • Less paperwork. Once you’ve picked a provider, Policygenius will cancel your old policy and help with the switch to your new one.

Cons

  • Two-day turnaround. Since Policygenius takes the time to talk to each customer, you’ll receive quotes within 48 hours.
  • Small pool of providers. At the moment, the company represents 12 carriers — and it’s still growing.

How to apply for home insurance through Policygenius

To compare providers, you’ll need to fill out an online application form. It takes less than five minutes to complete. These are the steps:

  1. Go to the Policygenius website. Select Homeowners Insurance.
  2. Press Get Started.
  3. This launches the online form. Indicate whether you’re purchasing a new home or need coverage for the home you’re in now. Click Continue.
  4. Choose between Bundling Home & Auto Insurance or Home Insurance Only. Click Continue.
  5. Type in your Street Address and select your Home Type — for example, single family home or condo. Click Continue.
  6. Answer a few more questions about your home, its heating system, and features like a basement, trampoline or swimming pool. If you have dogs, check the box.
  7. Enter your full name, date of birth, email address, phone number and occupation.
  8. Policygenius offers to compare your current policy with the policies they find. If you’re interested, upload your Declarations Page or choose to email it over later. Press Request Quotes. To skip this step, scroll down and click Schedule a Call.
  9. You’ll receive an email from a licensed insurance expert within 24 hours. They’ll set up a call to talk about your coverage needs and budget, and send you a range of quotes within 48 hours.

What info do I need to apply?

To sail through the application, have this info handy:

  • Personal and contact information
  • Features of your home, such as the type of heating system — for example, oil, gas or electric
  • Coapplicant details, if you have one
  • Declarations Page for your current policy. This document lists your coverage, deductibles and costs.

How do I make a claim with Policygenius?

Once you’ve applied and been approved for a new home insurance policy, Policygenius’ job is done. You’ll need to contact your carrier directly to make a claim. Usually, you’re asked to fill out a claims form and submit supporting documents.

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Bottom line

Shopping around for coverage can take time. Policygenius does some of the legwork for you by offering quotes from 12 providers, but you may have to wait for up to 48 hours.

It still pays to do your own research. To compare even more providers, check out our guide to home insurance.

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