Did you know that if you own your home outright that you do not need to have any type of home owners insurance? While this may sound like a good way to save money it leaves your largest investment, your home, without any protection the case of a man-made or natural disaster. The question you have to ask your self is do you have enough money to rebuild a damaged portion of your home or a worst case scenario rebuild your totally destroyed home. The price of home owners insurance is cheap compared to the consequences of not having any. |
If you have a mortgage then you are required to have home owners insurance but either way there are ways to lower your costs by getting a cheap home owners insurance quote. The insurance company will base their quote on several sets of criteria including the value and location of your house and property, proximity to nearest fire station or emergency services, and the condition of your house.
With that in mind here are some strategies you can follow to help secure that cheap home owners insurance quote.
1. Competing insurance companies – To say that there are a lot of insurance companies out there competing for your business would be an understatement. Don’t get one quote and call it good, you could be leaving money on the table. Get a minimum of four quotes for the type of coverage you want and see which provider will save you the most money on your monthly premiums. The more quotes you get the better your chances of finding a deal that works for you.
2. Combination Policy – If your home owners insurance company also provides auto insurance find out if they offer a discount for getting a combination home and automobile policy. Many insurance providers will give up to a 10% discount if you purchase this type of policy.
3. Security System – Most insurance companies will give a good discount for homes that have a security system that is hard wired to a centralized call center. This includes burglar and fire alarms. You can also save some money depending on how close the nearest fire station is to your home and if there are fire hydrants in your neighborhood.
4. Higher deductibles – Simply raising your deductible to a level that you are comfortable with will reduce your monthly premium. This is probably the easiest way to get a cheap home owners insurance quote. Do not raise your deductible to high and make sure you would have the money necessary to cover it if something unforeseen should happen.
If you are in the market for a new home owners insurance policy and are looking for the best deal then remember these four tips when you fill out the insurance quote form. If you have done your homework correctly getting a cheap home owners insurance quote should be a snap.
To learn more about how to get a cheap home owners insurance quote visit the website Home Insurance Quotes by Clicking Here.
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