Compare Homeowners Insurance Quotes

Homeowners insurance rates can vary by hundreds of dollars from

company to company, therefore, homeowners should shop for insurance the

same way they would shop for any other product. Homeowners should

compare prices, policy coverage and conditions, and even consumer

complaint reports.

Look for Multi-Policy Insurance

Most insurance companies that sell insurance products other than

homeowners insurance will offer consumers discounts for buying more

than one product from them. For example, if your auto insurance company

also sells homeowners insurance, you might get a discount of up to 15%

off your premium for buying both products.

Only Buy the Homeowners Coverage You Need

Homeowners insurance policy limits should be revisited every year to

reevaluate any major purchases and additions. On the other hand, many

of the possessions that homeowners insure depreciate significantly over

the course of a year. Homeowners should update their home inventory,

and reevaluate policy limits for possible savings.

Further, homeowners shouldn't spend money for coverage they don't

need. For example, if you don't live in a flood-prone area, you may not

need costly flood insurance.

Consider Raising Your Deductible

Increasing your deductible by just a few hundred dollars can make a

significant difference to your premium. Most deductibles start at $250,

therefore, if you raise your deductible from that to $1,000, you ay to

save nearly 25% on your premium.

Look For Discounts That May Apply to You

There are a myriad of homeowners discounts that go unrecognized by

many consumers. For example, even though they seem ordinary, you may be

able get a lower premium if your home has safety features such as

dead-bolt locks, smoke detectors, an alarm system, storm shutters or

fire retardant roofing material.

Other common homeowners insurance discounts include:

A new home's electrical, heating and plumbing systems and overall

structure are likely to be in better shape than those of an older home,

therefore new homes are usually charged lower rates than older homes in

the same price range.

Seniors often enjoy discounts on their homeowners insurance if they

are over 55 and retired, or if they've been a long-term customer.

Strong home security in the form of security systems, alarms, gated

communities, double locks on both doors, etc. often afford you lower


Non-smokers usually get reduced rates on their homeowners insurance

policy. If you were a smoker when you bought your house, but have

subsequently quit, many insurers may lower your rates. Smoking accounts

for over 20,000 residential fires in the U.S. a year, so insurers often

charge lower premiums to smoke-free households.

Insure Your House, Not the Land Under It

Consumers often overpay for homeowners insurance by including the

value of the land that their home resides. Remember that you only need

to insure the home itself and your possessions, not the land. Should

something unfortunate occur, the land will most likely remain. If you

do not subtract the value of the land when deciding how much homeowners

insurance to buy, you will most likely pay more than you should.