Affordable Homeowners Insurance -- Proven Advice

With the right advice you'll get more affordable rates for adequate coverage. However, if you get the wrong tips, although you may still save, you will do so by compromising the level of coverage you get. Here are some time-tested ways to pay far less without putting yourself at risk...

1. Get special fire and security gadgets that alert fire stations, police stations or other monitoring centers. Not only will you get a considerable discount, you will also feel safer bearing in mind that your home is constantly monitored. Notwithstanding that the savings this will get you will differ from one insurer to another, you can expect to lower your home insurance premium by as much as 25%.

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2. You'll save if you get all your policies from the same insurer. This makes you eligible for a multi-policy discount. Although you'll get a discount for buying several policies from the same carrier, you may make more by purchasing each particular policy from various insurance companies.

Let me make this a little clearer...

We will operate in the assumption that you've got life, auto, health and home insurance policies. Maintaining this many policies with any insurer is sure to attract a considerable discount. Nevertheless, we'll look at it from a rather global view to see another possibility...

To explain this we'll assume your profile receives the following premiums with different carriers...


Insurer A

Life insurance: $2,590

Health insurance: $2,200

Auto insurance: $3,500

Home: $2,100


Insurer B

Life insurance: $3,100

Health insurance: $2,400

Auto insurance: $2,500

Home insurance: $2,400


Insure C

Life insurance: $2,900

Health insurance: $1,900

Auto insurance: $2,800

Home insurance: $2,700


Insurer D

Life insurance: $2,100

Health insurance: $2,300

Auto insurance: $2,750

Home insurance: $2,600


From the list above the cost of the four policies with Insurer A is $10,390. If they give a multi-policy discount of 10% you'll spend a total of $9351. This is really big considering that you will save over $1,000.

Nevertheless, the wisdom or otherwise of this decision becomes evident when you compare it with what would have been saved if you bought from the provider that had the best rate per policy...

Insurer A gives the best quote for home insurance at $2,100; Insurer B offers the best auto premium at $2,500; Insurer C offers the best in health at $1,900 and Insurer D gives the best rate for life at $2,100. This will bring your total insurance spend to $8,600.

This is $751 lower than what you will get if you settle for a multi-policy discount.

This may not really be the case for everyone depending on how well you shopped before buying. But, you'll do well to check first. Spend time to obtain and compare as many homeowners insurance quotes from as many quotes sites as possible. You're less likely to miss cheaper rates if you obtain and compare quotes from not less than 5 insurance quotes sites.

3. You are entitled to a loyalty discount if you've stayed with an insurance provider for up to three years. But in spite of the fact that you will qualify for a loyalty discount if you stay put with one insurer for 3 years and more, don't remain with an insurance company that long just for that.

Believe it or not, you can almost always get an insurer that gives a far lower rate than what you're presently paying. The secret is doing very extensive shopping. I suggest that you obtain quotes from insurers you have never obtained quotes from time to time.

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4. You will probably lower your premium if you spend time to review your home owner insurance policy not less than once a year or whenever there are changes in your home. The rare rug Mama gave you might not really be worth the $10,000 you insured it for presently.

You'll save and still have enough coverage by reducing your home insurance coverage by the right margin if it has dropped in its worth. But know that the contrary could as well be the case where you would have to buy more coverage because it's risen in value. Whichever way it goes, your best interest is being protected in either savings or maintaining adequate coverage.

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