<1>...Shop around ... It pays to shop around for cheap insurance. Home insurance rates vary from company to company. Obtain a minimum of three quotes by phoning companies or finding their rates online. Also, you might be able to obtain rate comparison information from your state insurance department.

You should also review info from magazines and independent rating agencies to get a feel for the financial condition of the companies you are considering.

Some companies sell cheap insurance for your home using their own agents, some use independent agents who represent several companies, and some utilize only the Internet or phone quotes. Obtain premium estimates from a variety of these companies.

The premiums you will pay are not the only criteria. Find a company that answers questions to your satisfaction and appears to be fair in resolving claims. Get recommendations from relatives and friends. And again, use your state department of insurance as a resource to evaluate companies.

In case you have an accident or other issues, you will need to feel comfortable with your agent or rep. Remember that while you're shopping around.

<2>...Your Deductible ... You agree to pay this amount toward a loss before your insurance company pays anything. Your premium is lower when you choose a higher deductible. You should stipulate a deductible of at least $500, and you might save as much as 25 percent with a $1,000 deductible.

Depending on the area in which you live, you may have separate deductibles for damage from major disasters such as windstorms, hail storms, and earthquakes.

<3>...Multiple Policies From The Same Company ... Another great tip when looking for cheap insurance. Home insurance can most often be purchased from companies that also sell auto insurance. Many times, your rates will be reduced by 5 percent to 15 percent if you purchase multiple policies from the same insurance company. Ask for this multiple policy discount then compare it to purchasing single policy coverage from other companies.

<4>...Make Disaster-Resistant Improvements ... You can probably reduce your premiums by making your home more resistant to natural disasters. For example, you might be able to reduce your risk for fire and water damage by updating your electrical system, heating, and plumbing, and adding storm shutters and/or shatterproof glass.

<5>...Know Your Costs To Rebuild ... In your quest for cheap insurance for your home, do not include the value of your land ... you will not have to rebuild your land. You'll pay a lower premium by eliminating the value of your land from the estimated value of your property.

<6>...Home Security Devices ... Discounts of at least 5 percent are common for smoke detectors, burglar alarms, and dead-bolt locks. It's possible to reduce premiums by 15 to 20 percent with expensive sprinkler systems and fire and/or burglar alarms. You'll want to compare costs of these items versus savings on premiums.

<7>...Other Discounts ... Available discounts vary among insurance companies and among states. You might earn a discount of 10 percent if you are at least 55 and retired. Or you might get cheap insurance (home) if you have modernized utilities. Make sure you INQUIRE about all potential discounts.

In addition, check to see if a reduced-rate coverage plan for groups is available through your employer, understand that some insurance companies will offer cheap insurance (home discounts up to 10%) to long-term customers, review your policy limits as well as the value of your possessions annually, and finally, make an effort to consider the cost of insurance when you are buying a home.

Don't hesitate to contact your agent or company representative if you have any questions about insurance for your home or possessions. You need to have an excellent understanding of coverages as well as limitations and exclusions before purchasing cheap insurance for your home.