Enter your ZIP Code to get insurance quotes in your area
Wrong zip code

More Than 15 Ways To Get The Cheapest Home Insurance Rates

​ The finding of the most reasonable home insurance rates involves a vast number of variables and factors. Prices vary from one place to the next, and one company to the next as well. For the most part however, saving money on your policy is a something that can happen regardless of where you live. This is one of those many situations or knowledge equals power, and we are here to impart some of our home insurance wisdom to you.

Most of the ways that you can save on your home insurance policy are fairly straightforward and simple. Because they are easy, and because of saving money is fantastic, we recommend trying a number of these, if not all of them. The more you know, the more reasonable home insurance rates you will get. 

1. Get The Right Policy For Your Needs  

Each company that insures homes will provide different coverage, particularly from one company to the next. It is vital to carefully go through what your policy covers, including the terms and exclusions in the policy. Sometimes, there is coverage that you do not need and removing it will help you save. Other times, there may be coverage that is not included that should be added in order to save you a substantial amount of money if you ever need to make a claim.

2. Get The Appropriate Coverage Amounts For Your Needs

Of many people believe that the amount of money they spent on their home is the same amount of coverage they should get. In reality, what you paid for your home is not the same as what it would cost to rebuild it from the ground up. If a catastrophe occurs, you will want an insurance policy that covers the complete rebuild cost of your dwelling. Another thing to be aware of is that the land your home is on, which is included in an appraisal cost, does not have any risk of being burned down or completely damaged by covered situations. In order to save money, only include the actual rebuild value of your home.

3. Compare Insurance Companies To Save

The amounts of money people are charged for home insurance vary a lot from one company to another. Companies weigh the details and risks of your situation differently, they also provide different policies than one another. This is why it is so important to come over the policies you are considering. Extremely inexpensive premiums that are the results of lowered coverage can leave you in a financial situation that is very undesirable If a disaster occurs. Instead, determine the amount of coverage that you want and need, and use that to verify that each policy you are considering will cover what you need it to. In addition, you should read reviews about each company that you are considering and look at their financial ratings. Having an insurance company that has the assets to pay for your damages, as agreed, is extremely important.

4. Review Your Policy Regularly

Not only should you review your policy regularly, but you should also take the time to review your policy whenever a major life event occurs.  The value of your home can change over time, as can the value of your possessions. Major life events can include things like renovations and remodeling of your home, but can also include other things like getting married or the death of a pet. If you have been working on improving your credit, you should also let your insurance company know of the progress you are making. Having better credit could help you save more on your home insurance plan.

5. Make Your Home Ready For Disasters

Every state has different risks, many of which are more prone to natural disasters, some more than others. Natural disasters such as hurricanes, earthquakes, and storms can cause large amounts of damage to your home resulting in the need to file a large insurance claim. Whether your home is at risk from damage from hail, winter storms, wildfires, or flooding, adding improvements that can prevent damage can help you save on your insurance costs. This can include things such as reinforcing your roof, adding storm shutters, and many other location specific improvements.

6. Some Home Add-Ons Increase Risk And Premiums

There are many things that are extremely fun but add to your insurance costs. Pets, particularly dogs, can increase the cost of your insurance premium. Some other fun things that increase risks, and therefore your premiums, include a hot tubs, pools, trampolines, and other home additions. While some of these things can add to your home’s value, others are simply a potential safety hazard. If you are looking into adding something fun to your new home, contact your insurance agent to see how it will affect your rates.

7. Smokers Pay More

Not only is smoking dangerous for your body, it is also dangerous for your home. Smoking greatly increases the likelihood that a house fire occurs, which means an increase in the cost of your policy. Not all home insurance companies factor in whether or not customers smoke, but for companies that do, quitting can save you money on your policy.

8. Multi-Policy Discounts Are A Big Deal

It is very rare for multiple types of insurance claims being filed at the very same time. The more policies you have with the same company, the less risk you are for filing claims on each of them. If you can find good policies from the same company, you can get discounts across the board. Other types of insurance that like General Insurance offer our life insurance, business insurance, auto insurance, and many others. By bundling these policies together you can end up paying a lot less for your insurance policies.

9. Look For Other Discounts You Can Qualify For

Simply put, there are many discounts that are available for people that make improvements to their home, or over a certain age, are parts of specific organizations, or are in the military. With many discounts available, it is likely that you already qualify for some of them. You can also choose to make improvements to your home, such as increasing the security and safety systems, in order to get more discounts and save. Installing an alarm system, deadbolts, or other security features impacts your policy. The same goes for smoke detectors, sprinkler systems, and other systems that can help protect your home if a natural disaster occurs. 

10.  Limit The Number Of Claims You Make

Homeowners insurance is there when you need it, but it is likely that submitting claims increases your risk in the mind of your insurance company. Sometimes, making a claim raises your premiums. When you are deciding whether you want to make a claim or not, you should consider the long-term costs as well as the immediate benefits.

11. Think About Your Deductible 

The amount of money you pay out of your own pocket before your insurance policy kicks in to cover the rest is called a deductible. People that have higher deductibles pay less, because people that have higher deductibles are less likely to submit a claim. Making your deductible to high is risky though, make sure you can still afford to pay the cost of the deductible. Having deductibles that are as high as your budget allows can decrease the premiums you pay significantly. Sometimes, policies have more than one deductible. This can be the case if there are certain disasters that are specific to your region, or you purchase riders for your policy to cover specific disasters.

12. Customer Loyalty Can Pay Dividends 

Switching from one company to another can mean short-term savings, but staying with a company for a longer period can pay dividends. Some companies offer between 5% and 15% reductions in insurance costs for customers who stick around more than three years.  You can check with your insurance company, or insurance companies you are considering, and they will let you know how their customer loyalty discounts work.

13. Setting Up Automatic Payments Helps

There are a lot of companies that will charge you less if you make your monthly payments online through an automatic payment system. While this can save you money, you can often save even more by paying for your entire policy in advance. In addition, both of these things will prevent the possibility of late payment fees that can sometimes happen when life is hectic.

14. Remove Old Structures

Older structures that are on your property may be at risk of collapsing. Due to this, if there is an old structure on your property your liability insurance costs and other premiums could be higher.  Even on vacant lots, the cost of your home insurance could go up.

15. Don’t Count Your Land

Your land does not need insurance protection, only your home and personal belongings do. While some areas may have land risk, most do not. By taking the value of your land out of the picture, your home coverage costs will likely go down. Make sure to talk to an insurance agent about the risks of doing this for your area before making this decision.

16. Before Purchasing A New Home, Consider Costs

When you think about purchasing a new home, why not think about the costs of homeowner’s insurance while you make the decision. Older homes may have older features that cost more to insure. If you are looking into areas that have risks of earthquakes and flooding, different neighborhoods may have more risk.  Talking with an insurance agent can also provide information about homes you are looking to purchase.

Final Notes

Finding the cheapest home insurance to fit your needs means taking advantage of ways to logically reduce your cost while still having the coverage you should have. General Insurance provides a some of the top homeowner’s insurance at some of the best homeowner's rates. After you select the home you live in, there are still ways to save through improving credit, making modifications, and reviewing your policy regularly. The least expensive policy is not always the best, so take company reviews and what your policy includes into consideration. Finding reasonable home insurance rates involves balancing the price you pay, with the benefits you receive if you need to file a claim. Home insurance quotes from General Insurance are free, fast, and convenient. You can get a quote both online and on the web, and our agents are here to help answer questions and save you money. Regardless of whether you are a first-time homebuyer, or someone that has owned a home for years, contact us today to see how we can help you pay lower premiums.

1.0out of 50 user reviews

Add new comment

This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.

See also

​A standard homeowner's insurance policy usually provides coverage...
No matter if you are purchasing a car for the first time, or just...
​Start saving money on home insurance with General Insurance today....
Start now and save »
Wrong zip code