Premiums for home insurance policies range in price from as little as two hundred dollars to thousands of dollars. Naturally, home insurance providers generally do not advertise methods to reduce premium costs. Comparison-shopping combined with a variety of other money saving methods can make home insurance affordable for every consumer.

Step 1: Shop Around

As with any major decision, the most important advice is to shop around for the best deal. With today’s internet access and technology, the easiest and quickest method to obtain multiple quotes is to take advantage of online insurance quote services. However, for those preferring brick-and-mortar interactions, most local insurance agencies will provide quotes over the phone and in person.

Step 2: Look at the Deductibles

For cheaper home insurance, the general rule of thumb is to purchase a policy with the highest deductible affordable. For example, with an emergency savings account of five hundred dollars, the highest deductible affordable would likely be five hundred dollars, the amount available for emergencies. Remember, the higher the deductible, the lower the cost of the plan.

Step 3: Combine Policies

Almost all insurance companies will offer cheaper home insurance for consumers with multiple policies. Generally, the more products purchased from a company, the lower the rates for each individual product. This is an excellent option for those needing multiple types of insurance that are also extremely satisfied with a particular company.

Step 4: Use Affiliations

Many professional organizations offer discounts to members to get cheaper home insurance. In addition, some insurance companies offer deals for homeowners with specific home security providers. For those over the age of fifty-five, or retired, there may be senior citizen discounts available. Additionally, more and more employers are offering employees options to sign up for group policies at a significant discount.

Step 5: Consider Security Upgrades

While consumers should contact their specific insurance company, many providers offer significant discounts for improvements in home security. From the simple addition of deadbolt locks to a state-of-the-art security system, there are many ways to upgrade security in the home. A sophisticated system that contacts the necessary authorities in the event of theft or fire has the potential to save up to twenty- percent, although these types of systems can be expensive.

Step 6: Ask About Home Improvement Discounts

Any home improvement that reduces the potential for damage can lead to cheaper home insurance. Retrofitting a home to withstand earthquakes for example, can result in a significant premium reduction. In addition, updating outdated electrical and heating systems not only reduces the risk of fire, but often results in cheaper home insurance.

Step 7: Maintain Good Credit

Some home insurance companies check credit before offering policies. To maintain good credit, always pay bills in a timely manner, try to keep credit card balances as low as possible and limit the amount of credit used at any given time. Alternatively, for those without an ideal credit history, look around, because there are home insurance companies that do not practice credit checks.

There are many ways to obtain cheaper home insurance. From simple comparison-shopping to spending thousands on a home security system, discounts are available for every age and budget.