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Save Money on Home Owner Insurance

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Save Money on Home Owner Insurance          Home owner insurance is insurance that protects against many things relating to your home. Home owner insurance may cover damage due to home fires, tornadoes, floods, and other natural disasters. It may also cover damage to attached structures of your home such as garages and sheds in the yard. This type of insurance is becoming more and more common place in each state and some states require home owner insurance for certain natural disasters like earthquakes or hurricanes.






Step 1

Determine whether or not you have excessive home owner insurance. This includes insurance for disasters that your geographic location is not prone too. For example if you live near the desert in the southwest, you may be able to eliminate the part of your homeowners insurance that deals with floods as your climate is always in drought conditions. Removing portions of your insurance coverage that you do not need is the easiest way to reduce your home owner insurance cost.

Step 2

Obtain free home owner insurance quotes. Many online insurance companies now offer free quotes for both car insurance and home owner insurance. Shop online for home owner insurance quotes and compare the results from different companies. You may be surprised at how much you can save for the same amount of coverage by shopping around.

Step 3

Consider combining your home owner insurance with the same company that does your auto insurance. Most insurance companies will offer significant discounts if you move your home owners insurance policy over to the company that operates your auto insurance policy. By having the same company handle both policies you will definitely get a big discount. Ask your current insurance company about this possibility.


Step 4

Ask your current home owner insurance company if they will raise your deductibles. Deductibles are the amount of money you have to pay out of pocket if you make a specific claim before you get any reimbursement. Raising your deductibles will lower your monthly home owner insurance cost.



Step 5

Call your current home owner insurance company and ask for a loyal customer premium discount. If you have been a faithful customer for over ten years, you may be able to get a small discount due to your loyalty to the company.


 

Additional Advice

                   Do not try to eliminate coverage that you need as a home owner just to save money on insurance. In the event of an accident, damage to your house can cost a lot of money to repair and you do not want to be liable for the bill yourself.

                   Try switching to an online home owner insurance company. Sometimes these companies offer cheaper rates than their brick and mortar local city insurance company counterparts.



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