Cheapest Home Owners Insurance -- Sure-Fire Advice

Anybody who uses proven tips will easily attract cheaper rates without sacrificing sufficient coverage But on the other hand, if you are given the wrong tips, even though you may still save, it will be by compromising the level of coverage you'll enjoy. If you want tips that you can make use of to save much and still maintain adequate coverage, continue reading...

1. Installing special security and fire systems that are monitored round the clock is a good step. Apart from the peace of mind you'll have in knowing your house is watched regularly by competent personnel, you'll get more affordable home insurance rates. Depending on the insurer, this kind of systems can save you between 25% and 30%.

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2. You will save if you get all your policies from the same insurance company. This is referred to as a multi-policy discount and is given by all insurance companies. However, you might save more by getting your policies from different insurers.

Let me make this a little clearer...

Let's make believe that you have 4 policies: Life, health, auto and home. Keeping this many policies with any insurer is sure to get you a considerable discount. Remarkable as the discount may be, you may still not get as much as someone who elects to forgo this discount due to a little twist...

I've made up the following rates just to explain this point...


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 offered to you, your sum for the 4 policies would be $10,390 if you purchased all policies from insurer A. With a multi-policy discount of 10% your costs will drop to $9,351. This is really big considering that you'll 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 carrier that had the most affordable rate for each policy...

Here are the cheapest quotes from various 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 will bring your total insurance spend to $8,600.

Doing extensive shopping and picking the best quotes from different companies, you'd have paid $751 less than a person of the same profile who bought from the first insurer with a 10% multi-policy discount.

This might not always be the case for everyone depending on how well you shopped before purchasing. However, you'll do well to find out first. Take your time to get and compare as many homeowners insurance quotes from as many quotes sites as possible. The wider the range of quotes you get, the more you'll save because you will be able to spot the lowest quotes available for your profile.

3. You should obtain a good discount if you've remained with an insurer for 3 years or more. Most carriers will give discounts once you keep your policy with them for three years and above. 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, do NOT stay put just for that.

I can almost bet that you can enjoy rates that are a lot less than what you're paying now. The secret is doing thorough shopping. Look for companies that you've never received quotes from and get and compare quotes from them.

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4. You'll likely lower your premium if you spend time to check your home insurance policy at least once yearly or whenever there are changes in your house. The market price of a diamond ring might have changed by a huge margin and therefore require that you adjust your coverage.

If it's now worth less, you will then do the sensible thing: Lower your coverage accordingly and get lower premiums as a result. But understand that the reverse could also be the case where you'd have to buy additional coverage because it's increased in value. The interesting thing, though, is that whichever it turns out to be you'll be at an advantage.

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