Getting the cheapest homeowners insurance rate is actually quite easy … if you know how. Here’s how to get cheap discount rates with top companies in 4 easy steps.

Step 1 – Decide How Much Coverage You Need

The first thing you need to do to get the cheapest insurance rate is to figure out how much insurance you really need. Here’s how …

To get the amount of building coverage you need, find out how much it would cost to rebuild your home. You can get this figure by asking the builder who built your home, or a local builder, how much building costs per square foot are in your area, then multiply that figure by your home’s square footage.

For contents coverage, inventory all your personal possessions – furniture, appliances, electronics, tools, kitchen utensils, sports gear, etc. The total value of your possessions is the amount of contents coverage you need.

Step 2 – Compare Quotes From an Insurance Comparison Site

In order to get the cheapest quote, you need to compare insurance rates from different companies. The easiest and quickest way to do that is to get quotes from an insurance comparison website.

All you have to do to get your quotes is fill out an easy online form with your name, address, the amount of coverage you want, the deductible you want, and any discounts you qualify for. You’ll then get quotes from top-rated companies. You can then compare them in the comfort of your home, and choose the cheapest one.

Step 3 – Get a High Deductible

The deductible is the money you pay toward a claim before your insurer pays. Getting a high deductible can save you a significant amount of money. For instance, raising your deductible from $500 to $1,000 you can save you 15% to 25%. Raising it to $2,500 can save you up to 35%.

Step 4 – Get all the Discounts You Can

Insurance companies offer numerous discounts. Some of these discounts include …

* Non-smoker discounts if no one in your home smokes

* Senior discounts if you’re 55 or older

* Security discounts if you have a burglar alarm and deadbolts on your doors

* Safety discounts if you have smoke detectors and fire extinguishers

* Multi policy discounts for buying your homeowners and car insurance through the same company

Your insurer may not tell you about all the discounts you qualify for, so be sure and ask your agent to tell you about them and include them in you policy.

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