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[C468]Cheap High Risk Insurance

by Alexis Jensen, Ale

Many insurance companies offer a cheap, no-frills home protection policy. The best place to find and to quickly compare the prices offered by these companies is online, but before looking online there are several things you may want to consider which could save you even more money.

A bare-bones homeowner's policy will not cover certain perils that are common to your region. Wind damage along the eastern seaboard, tornado damage in the Midwest, and earthquakes along the west coast will either not be covered at all or only in limited ways. Remember, too, that no basic homeowner's policy covers flood damage. If you are concerned about these types of specific perils then you will need to pay extra, and in many cases will need a separate policy.

However, if all you are after is a cheap policy that will protect you from the majority of problems, those policies are readily available.

Remember, if you pay your premiums yearly you will save money. If you pay your premiums every six months or even quarterly you will still save money. If you pay your premiums monthly but you pay them automatically from your bank account you will still save money. If anyone who is retired is living in your home make certain you tell your agent as that could save you money on a monthly basis.

If you install motion-sensitive lighting around your home and install deadbolt locks on every exterior door on your home and install window locks on every window in your home you can also reduce your monthly premium.

Upgrading your plumbing or electrical system could also save you quite a bit each month. Talk to your agent about your savings ahead of time and see if the cost vs. savings make this option viable for you.

A home protection system can provide your family with peace of mind and such a system can also save you as much as 20% a month on your homeowner's insurance. You'll want to talk to your agent before springing for a system like that, however, because only certain systems qualify for the highest discount. You might be able to increase your savings on a home security system if you have a home-based business. Talk to your tax advisor and see if you would qualify for a tax savings on a portion of the cost.

Increasing your deductible will also save you money. You'll need to consider carefully what the maximum deductible you can afford is, but if you double your deductible from the standard $500 to $1000, you could save up to 25% each and every month.

Knowing what you know now, find 3 different websites that permit you to compare prices for homeowner's insurance from different companies. Be sure you take the extra time to make your comparisons on at least 3 different sites so you can be sure of seeing every possible price that's available to you.

Then simply choose the lowest price from a company you feel comfortable with and you've done it! You've found the very best cheap high risk homeowner's insurance that's available in your state and you've saved a ton of money in the process!

For example, don't pay to insure the cost of the land under your home. In other words, don't confuse the cost of rebuilding your home with the cost of purchasing your home. If you include the cost of the land under your home in the amount of your insurance you are going to pay a much higher premium every month than you need to.

Keep your credit good. Did you know that when you apply for homeowner's insurance the insurance company runs your credit record? The higher your credit score the less you'll pay every month for your homeowner's insurance.

A home protection system that monitors your home 24/7 could save you quite a bit on your homeowner's insurance every month, but there are a couple of things to keep in mind. First, these systems aren't free. You'll have to balance the cost of the system against the savings you'll realize every month to see if it will be worth it to you. The other thing to remember is that not all systems earn you the same discount, so before you settle on one talk to your agent and see exactly how much your monthly savings will be.

By the way, if you have a home-based business you may be able to write off a portion of the cost of a home protection system against your taxes. When you add a tax savings to the savings you will realize on your premium each month, it could make such a system more attractive.

Along similar lines, if you spring for an upgrade of your plumbing or electrical systems you could create an on-going savings on your homeowner's insurance. Discuss this with your agent, runs the numbers and see how viable this is for you.

Adding deadbolts, window locks and smoke and fire detectors inside your home could add another 5% savings to your monthly bill. Over time this savings could really add up.

Paying your premiums yearly rather than monthly will also save you a few dollars. If you can't do that then see if you can set it up so your payments are made automatically each month. This will also save you some money.

Probably the fastest way to get cheap, high risk home insurance is to simply increase your deductible. Increasing your deductible from $500 to $1000 could save you as much as 25% on some policies - but keep in mind that if you ever have a claim you'll have to come up with your deductible out of your own purse or pocket.

O.K., now you should have a few ideas for the best way to fill out the form on a homeowner's insurance price comparison website so that you'll get the best price possible. The next thing you need to know is that if you really want to see the best prices from the largest number of insurance companies then you can't stop with just one website.

Each website only looks at a small handful of companies, so if you want to really know all of the prices out there you'll need to spend a little extra time and fill out the form on 3 different sites.

It's possible that you'll find price quotes from insurance companies you've never heard of. Many of them may be the lowest prices. Before you jump on those take a moment and try to find out a little information about an unknown company before you set up a relationship where you are counting on that company to be there for you for years and years.

But once you've found a company that you're comfortable with, and which has a good price for homeowner's insurance, then you're set. And you'll be able to feel good, knowing that you are saving money not just this month, but month after month for many years to come.

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Alexis Jensen has sinced written about articles on various topics from Auto Insurance, Health Insurance and Medical Insurance. My recommended sites here: