Cheap Home Owners Insurance -- Sure-Fire Recommendations

Anyone who makes use of time-tested tips will easily get cheaper rates without sacrificing sufficient coverage But also note that you could make savings if you get the wrong tips. The only difference is that you'd put yourself at risk. I will, however, only make recommendations that will save you much while you still keep enjoying adequate coverage...

1. Fixing advanced security and fire systems that are monitored 24/7 is a smart step. Apart from the peace of mind you will have in knowing your home is under constant surveillance by competent personnel, you will get more affordable home insurance rates. This can bring down your rate by more than 25% depending on your insurer.

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2. You'll save if you buy all your policies from the same insurer. This is known as a multi-policy discount and is given by all insurers. Although you'll receive a discount for buying several policies from the same insurance company, you may save more by buying each particular policy from various insurers.

I will dwell a little on this...

Let us say that you have a total of 4 insurance policies: Life, health, auto and home. Maintaining this number of policies with any insurer is sure to attract a huge discount. But let's see when that won't be the best route...

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


Take for instance that these premiums were given to you, your total for the 4 policies would be $10,390 if you purchased all policies from insurer A. With a multi-policy discount of 10% what you will pay will drop to $9,351. Saving such can be deemed reasonable.

Nevertheless, how smart this option is becomes clear when you compare it with what would have been saved if you bought from the company that had the cheapest rate per policy...

The following are the best rates from different 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. This offers a sum of $8,600 even though you weren't given any multi-policy discount.

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

Although this is true in many cases, it's not always so. This means that you can only be sure by doing thorough shopping and comparison. Do your utmost to get and compare quotes from as many quotes sites as as you can if you really want to discover the best option in your case. You will almost always save a lot 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 should get a reasonable discount if you have stayed with your insurer for three years and above. But notwithstanding the fact that you will qualify for a loyalty discount if you stay put with one insurance company for 3 years and more, don't make this decision just because of that.

If it's about spending less, you will likely still be able to pay cheaper than you're paying at any point in time. That is, if you know how to shop right. Make a list of companies that you've never obtained quotes from and obtain and compare quotes from them.

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4. You will likely reduce your rate if you spend time to go through your home owner insurance policy at least once a year or whenever things change in your house. The market price of your diamond ring might have dropped considerably and therefore need that you adjust your coverage.

If it is now worth less, you will then do the sensible thing: Reduce your coverage accordingly and get more affordable premiums as a result. But be informed that the contrary could as well be the case where you'd have to buy additional coverage because it's increased in its worth.

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