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Folks who understand the right steps to take don't find it difficult getting the most affordable rates without compromise to the quality of coverage they get. I'll reveal several you have to do if you want huge discounts that won't leave you with insufficient coverage...

1. A higher Deductible will give you cheaper rates. For people who don't understand what a deductible is, it's the amount you have to pay whenever you make a claim before your insurance company pays according to your policy terms. $250 seems to be the lowest deductible offered in home insurance.

Raising your deductible to $500, for example, could save you about 12 percent. Increasing it to $1000 could result in 24% slash in rates. Ask your agent for how much discounts to expect as there is no fixed discount rate for all insurance companies.

2. Insuring your home against every peril is NOT quite a need. Depending on the area you live in, buying insurance against some perils is totally pointless. You can almost say with certainty that some perils aren't possible in certain states going by their history.

It is wise to ensure you insure your house against any peril that has a reasonable chance of happening. However, there's no reason for you to really buy coverage for a peril that hasn't happened in a state for five decades. Opting for the right perils will make you pay for only coverage you need. This will bring savings if you had excess coverage in the past.

3. Check an insurance company's rating and don't be deceived by just low premiums. Few things can be worse than realizing that made payments diligently to the wrong insurer only when you make a claim. It doesn't take much time to find out from your state's department of insurance's website. Find out if your chosen insurer is licensed to offer home insurance in your state.

BBB, A.M Best Company, Phelps, Inc., Standard & Poor's Insurance Rating Services, Moody's Investor Services, Inc. are resources that you will do well to visit before you purchase a policy from any company.

4. Do not insure your home along with the land it is built on as this will cost you more but needless. A good number of people spend much more than they should on home insurance on account of this mistake. They just insure their home for its entire value without subtracting the land's cost.

If you made such a mistake, you'll have to re-evaluate your home insurance coverage and go through it again with your agent. Deduct the cost of your land and use only the cost of your structures and its contents.

This implies that you will pay a lot less on home insurance. Always remember that insuring the land your house is built on is real waste of money because it does give you any added advantage.

5. Smoking adds to the risk of a fire in your house. Going by what reports show, about 23,000 residential fires result from smoking. You will spend less in home insurance if nobody in your household smokes. For people who smoke, bear in mind that you're eligible for a downward review in your rate once you've quit smoking for over 12 months. Unless your insurance provider is one of the few that do NOT use smoking as a factor in calculating your premium, change to another insurer if your premium is not reduced after this.

6. You might save some hundreds of dollars by simply receiving and evaluating quotes from about five insurance quotes sites. And, it will take you only about 25 minutes on the whole.

Here are recommended pages for home insurance quotes...

InsureMe Home Insurance Quotes

Home Insurance Quotes

Chimezirim Odimba writes on insurance.