Discount Home Insurance

Getting the best deal on home insurance does not mean you have to settle for second-best coverage. Discount home insurance means finding ways to reduce your premiums, including simply shopping around, or installing security devices. Here are some easy tips for getting discounts on home insurance that can be applied to almost any home.

Raise your Deductible

If you set your home insurance deductibles as high as you can afford to pay out-of-pocket, your will get lower premiums. Be careful not to set the deductibles too high, because you will have to pay that amount before the insurance company will settle the remainder of the claim.

Actual Value Vs Replacement Cost

Actual cost is how much the home or an item costs, minus the depreciation value. Actual cost does not take rising prices into account. Replacement cost insurance costs a little more, but it will repair or replace damages regardless of the increased costs.

One Insurer for Multiple Policies

If you have multiple insurance policies with the same insurance company, you will net discounts on all policies. Statistics show that it is very rare for one policyholder to file multiple claims at once, so the insurance companies regard multiple policies as reducing their potential risks. Similarly, staying with the same insurance provider will earn you loyalty discounts after a few years.

Home Security

Three simple things that you can do to keep your insurance costs down are to install a fence around the property, install deadbolt locks in your entry doors, and have a professionally monitored security system installed in the home. Together, these ideas can save you a tremendous amount because it greatly reduces the risk to the insurer.

Shop Around

Compare quotes between several leading insurance companies. When comparing quotes, make sure that you are comparing similar insurance packages, because the pricing is completely different from one home insurance package to another.