Looking for a fast way to save money on home insurance? Start by doing some comparison shopping. And the easiest way to do this is online.
Why comparison shop? The fact is home insurance rates can vary from company to company. This could make the difference of hundreds of dollars you pay in premiums. You should get at least three different quotes to compare. You can either pick up the phone book and start dialing numbers, or take advantage of the Internet.
One way to do this is to go directly to each insurance company's Web site and request a quote. As you request your quotes, make sure to enter the same desired coverages and deductibles for each company so you can have an accurate comparison. You'll need to have an idea of how much coverage you would need to replace your home at today's costs. To help get you started for quote shopping purposes find a typical cost-per-square-foot figure for similar homes in your neighborhood. A realtor can help you. Then multiply that by your home's square footage.
Many people visit an insurance comparison Web site because you only need to enter your information once, and then you can get several different quotes back from companies or agents.
Another way to save is to ask about discounts. If you already have car insurance, get at least one of your quotes from your auto insurance company. They may offer a multi-policy discount which could save you 5% or more. Also, you may save by having upgraded electrical and plumbing and a burglar and fire alarm system.
Other ways to save on your homeowner insurance include having a higher deductible, and making sure you don't include the value of the land your home is on in the total coverage (home insurance does not cover the land).
Author: Scott Lunt
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