Affordable Home Owners Insurance -- Sure-Fire Recommendations

You will easily pay less for the right coverage if you have and make use of the right tips. But also note that you could make savings if you get the wrong tips. The only thing is that you'd be compromised in the quality of coverage you get. I will, however, only make recommendations that will help you save much while you still keep enjoying the right coverage...

1. Get special fire and security systems that alert fire stations, police stations or other monitoring centers. Not only will you enjoy a big discount, you will as well feel safer bearing in mind that your house is constantly monitored. Notwithstanding that the savings this will attract will vary from one insurer to another, you can expect to reduce your home insurance premium by as high as 25%.

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2. Using the same insurance carrier for multiple policies will attract a discount. This makes you eligible for a multi-policy discount. Nevertheless, you might be better served by obtaining your policies from different insurers.

I'll dwell a little on this...

We'll work in the assumption that you have life, auto, health and home insurance policies. You will receive a multi-policy discount if you make purchase of all four policies, or a minimum of 2 of them, from the same insurer. But let us see when that won't be very advisable...

To explain this we will assume your profile gets 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 rates were offered to you, your total for the 4 policies would be $10,390 if you bought all policies from insurer A. Though, your total insurance spend will reduce to $9351 if you are offered a multi-policy discount of 10 percent. This is quite big considering that you'll save over $1,000.

Even though the savings made with a multi-policy discount is really big, let us see what would have been the case if you decided to purchase from different insurers who offered you the cheapest rate for each policy...

The following are the best rates 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. With this option, your total is reduced to only $8,600.

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

So spend time to find out which pays you better. And a good way to discover is to get and compare quotes from up to five insurance quotes sites. The wider the range of quotes you get, the more you'll save because you will be able to spot the cheapest quotes available for your profile.

3. You should get a reasonable discount if you have stayed with your insurance provider for 3 years or more. But despite the fact that you will qualify for a loyalty discount if you remain with the same insurance provider for 3 years and more, don't make this decision just for that.

If it's about spending less, you'll almost always be able to pay cheaper than you're paying at any point in time. Do extensive shopping and you'll be in for a pleasant surprise. I recommend that you obtain quotes from companies you have never got quotes from time to time.

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4. You will likely reduce your premium if you take time out to review your home insurance policy not less than once a year or whenever there are changes in your house. The value of a diamond ring might have changed by a huge margin and therefore require that you reduce your coverage.

If it is now worth less, you'll then do the sensible thing: Lower your coverage by the same margin and obtain more affordable premiums as a result. Nevertheless, remember that a review could also show that it is now worth much more and so demand that you increase your coverage.

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