How to Get the Cheapest Homeowners Insurance. Homeowners insurance protects your home from expenses that arise due to natural calamities, fire, theft, vandalism and so on. The insurance coverage depends on the value of your home and its contents, while the premium rate depends on the location, quality of construction and level of security. Follow these tips if you want to buy the cheapest homeowners insurance.
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Estimate the value of your home and belongings including the replacement value of your home, interior furnishings, jewelry, electronics and so forth.
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Go online and find out the variable cost of homeowners insurance. The annual premium can vary from $500 to $2,000, depending on the company and type of coverage. Those who are age 62 and over may benefit from reduced premium rates from some companies.
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Learn about the regulating authority responsible for insurance rates in the state where you live. The rates for homeowners insurance need approval from the insurance department of the state.
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Get quotes from different insurance companies. Most insurance companies have Web sites where you can request online quotes or talk to local agents and compare policies.
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Combine policies with the same provider if possible. For example, if you have an auto policy or plan to buy one, combining this with a homeowners policy will lower your premium rate.
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Inquire about business tie-ups and affiliations. Many insurance companies have tie-ups with home security system providers. If you buy and install a security system from a company's associate list, you may qualify for discounts on installations as well as lower premium quote.
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Check into buying multiple policies from the same company for other family members' homes if they are willing to do so. You could be eligible for even more discounts if offered.
