Affordable Home Insurance -- Proven Advice

Anyone who implements time-tested advice will easily attract more affordable rates without sacrificing sufficient coverage However, if you get the wrong advice, even though you may still save, it will be by downgrading the level of coverage you get. I will, however, only make suggestions that will save you much while you still maintain the right coverage...

1. Have special fire and security gadgets that alert fire stations, police stations or other monitoring centers. You get a big discount apart from the fact that you will feel more secure that your house is being monitored by competent people. Depending on the insurance provider, this kind of systems can save you between 25% and 30%.

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2. Using the same insurance carrier for several policies will get you a discount. Insurance carriers give discounts to policyholders who buy several policies from them. Even though you'll receive a discount for purchasing several policies from the same provider, you may save more by buying each policy from different home insurance carriers.

I'll take this further...

Let's make believe that you have 4 policies: Life, health, auto and home. Maintaining this number of policies with any insurance carrier is sure to get you a remarkable discount. Remarkable as the discount may be, you might still not realize as much as someone who elects to ignore this discount due to a little twist...

To explain this we will assume your profile receives the following premiums with different companies...


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 four 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. Savings of this order can be deemed big.

Even though the savings made with a multi-policy discount is really big, let's see what would've been the case if you chose to buy from different companies who offered you the lowest rate per policy...

Here are the best quotes from different 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. This will bring your overall insurance payments to $8,600.

By proper shopping and settling for the best rates from various providers, you'd have paid $751 less than a person of the same profile who purchased from the first company with a 10% multi-policy discount.

Although this is true in many cases, it is not always so. This means that you can only be sure by doing extensive comparison shopping. Spend time to get and compare as many homeowner 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 see the lowest quotes available for your profile.

3. Have you being with your home insurance provider for up to three years? Then ask for a loyalty discount. Most carriers will give discounts once you keep your policy with them for three years and above. However, I do NOT expect that you stay with one insurer for that long just because you're waiting to qualify for a loyalty discount.

If it is about spending less, you will likely still be able to pay cheaper than you're paying at any point in time. Do extensive shopping and you'll be pleasantly surprised. I recommend that you get quotes from insurers you've never received quotes from time to time.

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4. Since nothing remains unchanged, it's a good idea to go over your home insurance policy from periodically to be certain you neither have too much nor have inadequate coverage. The Persian rug Aunt Molly gave you mightn't just be worth the $10,000 you insured it for presently.

Reduce your coverage accordingly if it has dropped in value and, as a result, you will save and still maintain adequate coverage. Nevertheless, bear in mind that doing this could as well show that it is now worth a lot more and so require that you increase your coverage.

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