Affordable Home Owners Insurance -- Proven Tips

You'll easily pay less for the right coverage if you get and use the right recommendations. However, if you get the wrong tips, in spite of the fact that you may still make huge savings, you will do so by downgrading the quality of coverage you'll enjoy. Here are some proven ways to get cheaper rates without putting yourself at risk...

1. There are security and fire systems that are monitored round the clock. Apart from the peace of mind you'll have in knowing your home is always been watched by committed professionals, you'll get lower home insurance rates. This can bring down your rate by more than 25% depending on your insurance carrier.

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2. Using the same insurance carrier for multiple policies will get you a discount. Insurance companies offer discounts to policyholders who buy more one policy from them. But you might make more savings with different insurers than you'll get from a multi-policy discount.

Let me make this easier to understand...

We'll operate in the assumption that you have life, auto, health and home insurance policies. You can expect a reasonable discount from any insurance provider with whom you maintain multiple policies. However, we'll look at it from a rather global view to see another possibility...

To explain this we will assume your profile receives the following rates 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


Assuming these premiums were given to you, your sum for the 4 policies would be $10,390 if you bought all policies from insurer A. With a multi-policy discount of 10% your costs will drop to $9,351. Saving such can be called big.

However, the wisdom or otherwise of this decision becomes clear when you compare it with what would have been saved if you bought from the carrier that had the cheapest rate per policy...

Here are the cheapest quotes from various insurance companies 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. In this case, your total is reduced to only $8,600.

In this case you'll save $751 more than if you went for a multi-policy discount with Insurer A.

Notwithstanding that this is true in many cases, it is not always so. This means that you can only know for sure by doing thorough comparison shopping. Take your time to obtain and compare as many homeowner insurance quotes from as many quotes sites as possible. You will almost always save much more if you obtain and compare quotes from at least 5 insurance quotes sites because you will be less likely to miss many cheaper rates.

3. You're eligible for a loyalty discount if you've stayed with an insurance provider for up to 3 years. Most companies will give discounts once you maintain your policy with them for 3 years and above. But despite the fact that you will qualify for a loyalty discount if you continue with one insurance company for three years and more, don't remain with an insurer that long just for that.

I can almost stick my neck out that you can get rates that are considerably less than what you're paying presently. Do extensive shopping and you'll be pleasantly surprised. Make a list of insurance carriers that you've never received quotes from and get and compare quotes from them.

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4. Since nothing stays constant, it's a smart step to go over your home insurance policy from time to time to be certain you neither have more than you should nor have insufficient coverage. That expensive artwork might no longer be worth as much as when you insured it.

Cut down your coverage accordingly if it has dropped in value and, consequently, you will save and still maintain adequate coverage. But know that the contrary could as well be the case where you'd have to purchase additional coverage because it has risen in value. The good thing, though, is that whichever it is you will be at an advantage.

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