How to Get the Most Affordable Home Insurance

Posted : June 01, 2017

affordable home insurance

How to Get the Most Affordable Home Insurance

Are you looking for the most affordable home insurance for you and your family? Look no further than this post. We're sharing how to know it's the best.

Keyword(s): affordable home insurance

Financial decisions like choosing the most affordable home insurance require some comparisons between companies.

Let's take a look at some things to look for when selecting your provider.

Finding Affordable Home Insurance

The first thing you'll want to do before making a comparison between providers is to know what you already have. You might be able to make some adjustments within your current policy to make it more affordable.

Talk to your agent about ways you can do this, including:

  • Making updates/repairs to your home
  • Add your auto and/or life insurance to the same carrier as your home insurance provider
  • Raise your credit score by paying off debt and making timely payments on your accounts
  • Raising your deductible amount

But don't just go full steam ahead with a home renovation or having your deductible increased. Talk to your agent and get their advice about the best ways to incorporate some of these money-saving techniques.

If you have been a loyal customer for several years, your company might be willing to give additional discounts for it. Don't be afraid to ask for them!

Making comparisons

Once you've gotten your current premium as low as it can go without sacrificing too much coverage, you're ready to shop.

Knowing exactly what you already have will help you make a well-researched decision about whether to switch to a new provider. But don't just go with the cheapest premium - sometimes you get what you pay for!

Do your research about their claims process. The whole reason you have insurance is so you will be covered in a crisis. Make sure that any company you are considering has a good reputation for quickly and efficiently processing claims.

Read the policy

This might sound like a no-brainer, but actually reading the policy could save you some money if you go through it and eliminate what you don't need.

For example, many times land will be covered along with your actual home. Some parts of the policy could be changed to only cover the home. Talk to your agent to learn more.

Also, there may be replacement or repair coverage for minor things that could be handled on your own without filing a claim. Removing some of these from the policy can make a difference when trying to find affordable home insurance.

Secure your home

One of the simplest ways to lower your existing premium or get a good rate on a new policy is to install a security system in your home. Just make sure the investment will pay off. You don't want to be spending more on monthly home security than you're saving on your home insurance policy.

The Bottom Line

Now that you know some basics, let's review:

  1. You may already have affordable home insurance in your existing coverage if you just ask the right questions.
  2. Know what competitors are like when it comes to the actual claims process.
  3. Know what you can eliminate to get exactly the coverage you need.
  4. Consider adding a security system to your home to increase your saving potential.

For more ways to make sure you're getting the most for your insurance dollar, contact us today.