There are hundreds of insurance companies that will provide you with the type of policies you are looking for. The only way to be certain you get the lowest premium is to compare homeowners insurance rates by entering your zip code in the box provided above. It is the fastest way to narrow down the top home insurance companies for your needs.
Why You Should Carry Homeowners Insurance
Mortgage Company Requirements
All lending institutions require that you carry the insurance, so, you might as well find the most affordable homeowners insurance available. Whether it is a bank or a mortgage broker, the idea is to insure that the money they invest will not be lost due to fire, flooding or any other damage that may destroy the home.
You make a huge investment when you purchase a home. That investment can literally go up in smoke if it accidentally catches fire. You are protected from theft and vandalism as well. Unless you have thousands of dollars lying around the bank, you are wise to find a good insurance company to cover the loss of property you could suffer while you live there.
Peace of Mind
It is hard to sleep at night when you are not sure if your property is financially covered if damage were to occur. Peace of mind is easy to find and it does not have to cost your life savings. Cheap homeowners insurance can easily be found by comparing the rates of many different insurance companies. Rest easy in knowing that you will not lose everything you have worked hard to attain if a disaster strikes.
How to Lower Home Insurance Rates
Compare The Best Homeowners Insurance Companies
The best way to get the lowest homeowners insurance premiums is to get online homeowners insurance quotes. It only takes a few minutes to find out if the rates you are currently paying are higher than what you have to pay. Chances are that you will be able to find insurance rates below what you are already paying. That is especially true if you have never compared rates online.
Most insurance companies give a decent discount to people who carry multiple policies with them. Consider placing your auto insurance with the same company who carries your homeowners insurance to get a hefty discount that will help save money on your monthly budget.
Like it or not, part of your premium is based on your credit rating. Make certain that your credit is as high as possible to keep your homeowners insurance rates as low as possible. If you have poor credit, work diligently to repair the problem areas. This can drastically reduce insurance cost and save you hundreds of dollars every year.
Common And Not So Common Homeowners Insurance Discounts
Expanding Home Security
Many insurance companies will give you discount rates if you add more security to your home. Alarm systems will help protect you from theft and burglary and cameras are an added protection to catch the culprits if they should gain entrance into the home. The more secure your home is, the greater discount you may be eligible for. You can compare homeowners insurance rates online to find out exactly how much you might be able to save each month by adding a simple alarm.
Loyalty discounts are the easiest type of all. The only thing you have to do is stay with the same insurance company for a certain amount of time. Homeowners insurance companies that offer this discount can be found when you are comparing rates online. The discount can start as early as six months after you have been with the same insurance company. A new discount can be applied at yearly intervals.
Incident Free Discounts
Incidents such as fire or theft can cost the insurance company thousands of dollars. The longer you go without having to make a claim, the better chance you have at getting an extra discount. Homeowners insurance companies look at incident free clients as a much lower risk. Although some incidents are out of your control, there are things you can do to keep you home safer from problem areas.
Yearly Adjustments For Depreciation
Just as your car depreciates every year, so do the items in your home. Inventory your personal belongings every year to determine what the actual value is. Items like computers and televisions can lose value quite quickly. Insurance companies will only pay a fraction of what you originally paid for it. There is also a limit on how old those items can be before the insurance company will not cover the cost at all.
Factors That Affect Homeowners Insurance Quotes
Where You Live
If you live in an area where there are frequent natural disasters, it is likely your homeowner’s insurance will be adversely affected by it. Places that have tornadoes, heavy rainfall or earthquakes are a much higher risk for insurance companies than places that do not have them. There are not many options for people in these areas, but, that does not mean you cannot make good choices about the type of home you buy. The materials the home is made of can reverse some of that damage. For instance, homes made of brick and concrete in a likely disaster area are stronger than those made of wood.
Age Of Your Home
The age of your home will make a difference in your home insurance premiums. The older the home, the more likely the wiring and plumbing is to cause damage. If the electrical wiring or plumbing has not been updated in many years, it could cost a great deal more when it comes to your premiums.
The best homeowners insurance companies are waiting for you to contact them. Do not make that call until you are positive you are getting the best possible premium. The only way to do that is to compare the rates of several insurance companies online. This gives you a good starting point and will save you hours of time and keeps you from spending far more than you have to on homeowners insurance.