Affordable Home Owners Insurance -- Proven Advice

With the right recommendations you'll get more affordable rates for sufficient coverage. It's also important that I stress that there are recommendations that might put you at risk even if they save you for now. Here are some proven ways to get cheaper rates without opting for inadequate coverage...

1. Installing special security and fire systems that are monitored 24/7 is a good move. Apart from the peace of mind you will have in knowing your home is under constant surveillance by competent professionals, you will enjoy more affordable home insurance rates. Depending on the insurance provider, this type of systems can help you shave off between 25% and 30%.

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2. It pays to purchase more than a policy from the same insurance carrier as this will bring huge savings. This makes you eligible for a multi-policy discount. However, you might save more by obtaining your policies from different providers.

I'll take this further...

Let us assume that you have a total of four insurance policies: Life, health, auto and home. You can expect a considerable discount from any insurance provider with whom you maintain multiple policies. But let us see when that won't be very advisable...

I've made up the following quotes just for explanation...


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 total for the four policies with Insurer A is $10,390. If they give a multi-policy discount of 10% you'll pay a total of $9351. That's huge. Isn't it?.

Although the savings made with a multi-policy discount is really big, let's see what would've been the case if you decided to buy from different insurers who gave you the cheapest rate per policy...

Here are the best quotes from different insurers for the different policies: $2,1000 from Insurer A;$2,500 from insurer B;$1,900 from insurer C and $2,100 from insurer C. This gives a total of $8,600 even though you weren't given any multi-policy discount.

This is $751 less than what you'll receive if you opt for a multi-policy discount.

This might not always be the case for everybody depending on how properly you shopped before purchasing. However, you'll do well to check first. Take your time to get and compare as many home owners insurance quotes from as many quotes sites as you can. You'll almost always save much more if you obtain and compare quotes from not less than 5 insurance quotes sites because you will be less likely to miss many cheaper rates.

3. Have you stayed with your home insurer for up to 3 years? Then ask for a loyalty discount. Most carriers will give discounts once you keep your policy with them for three years and above. But despite the fact that you will qualify for a loyalty discount if you stay put with the same insurance provider for 3 years and more, don't make this decision just because of that.

If it is about paying less, you'll almost always be able to pay lower than you are paying at any time. The key is doing thorough shopping. Make a list of companies that you've never received quotes from and get and compare quotes from them.

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4. You'll probably lower your premium if you take time out to review your home insurance policy at least once yearly or whenever things change in your home. That expensive fur coat might no longer be worth as much as when you insured it.

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

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