Estimate the home’s value. Property insurance is typically based on the value of a home. Find an estimated property value through a real estate valuation website. For a new home purchase, the real estate agent can provide a market analysis on the home.
Calculate the estimated value of property insurance. Generally, the cost of insurance can be estimated by dividing the home's value by 1,000, then multiplying the result by $3.50. For example, on a house value of $200,000 the cost is $700 annually.
Locate reputable insurance agents in your area. Professional associations, such as the National Association of Professional Insurance Agents, can help.
Request quotes from a few agents to find the most affordable policy. Remember to ask about multi-policy discounts. Some insurance agents provide a discount for buying property insurance, auto insurance and life insurance at the same agency. This will drive down the cost to insure your property.
Purchase extras, such as earthquake insurance. There are some items, such as earthquakes, excluded from basic homeowner’s insurance policies. Depending on where you live, talk with your agent about adding coverage.