Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com.

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Mar 19, 2020

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Cheap Home Insurance RatesAre you asking yourself, “Where can I find cheap home insurance rates?” Indeed, finding cheap home insurance rates can be a hassle.

Despite the fact that there are thousands of agents ready to sell you an insurance policy, you never really know who to trust until you have signed a contract and filled out a claim successfully.

Minimizing your risk in the eyes of your insurer and getting the proper amount of coverage are both critical. Here is some advice that can help you find an affordable and reliable home insurance rate.

Also, be sure to enter your zip code into our free tool to find cheap homeowners insurance rates online from many top companies!

Understand Your Risk and Need

First, understand that a cheap insurance policy is not necessarily what you want. Cheap insurance policies usually cover the bare minimum. When your house, possessions and legal safety is on the line you want to buy a policy that is comprehensive and doesn’t leave anything up to speculation. Let’s start by considering how the price of an insurance policy is decided upon.

Insurers will first analyze all the risks of your home in an effort to determine how likely it is that you will file a claim. This analysis is based upon your profile as well as the general statistics of others who live in a similar situation.

The insurance company will consider the area in which you live, including the number of claims that seem to come from other residents in this neighborhood. Your proximity to a fire station is a major factor. The homeowner insurance company will also consider replacement costs for your possessions, heating, plumbing and electricity, stoves, and the age and condition of your roof.

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The Most Important Factors in Determining Price

When it comes to determining the final price of your policy, consider the two most important issues. The insurance company wants to know what you are actively doing to prevent the fires, thievery, accidents and other threats. This is why residents who install security systems, fire alarms or sprinklers and swimming pool guards will get a discount.

Ultimately, you want a policy that is discounted over a policy that is merely cheap. The other major issue that will influence the price is whether you want basic or full coverage. If you are really after cheap, then you may want to choose basic coverage. Basic coverage usually covers the structure of the house as well as amenities surrounding the property. The basic perils covered here are fire, hail, vandalism, theft, outside vehicle damage, civil commotion, glass breaking, smoke and personal liability. Coverage for home content (furnishings and appliances) is often not included in basic coverage.

You may not always have a choice in choosing cheap homeowners rates. Some mortgage lenders will only let you finance an expensive property if you buy comprehensive coverage. If you have a choice in the matter, then opt for the better policy and the best-rated insurance company.

Just because your budget is limited doesn’t mean you want dirt cheap home coverage. You may be very disappointed to discover that a cheap homeowners policy only covers the bare minimum and may not even provide you with the replacement costs you desperately need during a state of emergency.

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A Tool That Can Help You

Do not fret if you are overwhelmed by the high number of insurance companies out there. You can find an insurance company that is affordable but reliable online. To begin, choose a company that is regionally located. Insurance providers that are nearby the area are usually knowledgeable about the greatest risks. At the same time, do not be sold on regional location and cheap rate alone. An insurance provider should have a stable company history and established assets that speak to its success.

Once you establish these necessities, look up the reputation of the company online. See if there are any customer complaints or if there are a large number of honest and favorable reviews. Read the contract carefully and note any suspicious wording. Ask the agent to clarify any sentences that you are unsure about. You can also ask that clauses be added to the policy if you have any lingering doubts.

What if you don’t have time to scout each individual insurance website? Then consider using our free web comparison tool. This rate quote tool searches insurance polices for you from all the top providers in your local area. You can compare policies, premium estimates and term coverages in just a few seconds. Use this free web tool to compare quotes and find a policy that’s affordable—not cheap. Why not use it now?