How to Buy Homeowner's Insurance

Protect your home with the right insurance.

Protect your home with the right insurance.

Chances are your home is the biggest single purchase you will ever make. With so much money at stake, it makes sense to protect your purchase with the right insurance. Homeowner's insurance is designed to protect the value of the physical structures on your property in the event of a fire or other natural disaster. Homeowner's insurance also provides liability protection in the event someone is hurt while on your property, and theft protection in the event of a burglary. Getting the best homeowner's insurance requires lots of careful shopping and comparing the coverage provided by each plan.

Contact the insurance company that handles your automobile insurance. You might be able to get a significant discount if you buy your homeowners and automobile insurance from the same company.

Contact several other insurance companies so you can compare the quotes you receive. Provide information regarding discounts to which you might be entitled. Home features like deadbolt locks, hard-wired smoke alarms and fire retardant roofing materials can lower your premiums. You might also be entitled to a discount for an alarm system or home monitoring system.

Request a quote based on several different deductible levels. According to the Federal Information Center's guide to homeowner's insurance, raising your deductible just a few hundred dollars can save you a lot of money on your homeowner's insurance premium.

Check the latest assessment to determine how much your home is worth, and base your insurance coverage on the value of the structure, not the land underneath it. The Federal Information Center points out that if your house burns down the land is still there, and that if you base your insurance coverage on the value of the land as well, you will pay more than you need to.

Purchase enough insurance to replace the home. If you fail to buy replacement coverage, you could end up without enough money to replace the home if disaster strikes. Construction costs rise all the time, and replacement value insurance is designed to keep up with those rising costs.

Insure against flood and earthquake damage separately, since these disasters are not covered by standard homeowners insurance. Whether or not you need flood and earthquake insurance will depend on where you live and how likely your house is to suffer that type of damage.


  • Make a household inventory you can use in case of a fire or robbery. Go through each room and make a video inventory of its contents. Supplement that video record with a detailed list of each item in the home, including when it was purchased and its value.

About the Author

Based in Pennsylvania, Bonnie Conrad has been working as a professional freelance writer since 2003. Her work can be seen on Credit Factor, Constant Content and a number of other websites. Conrad also works full-time as a computer technician and loves to write about a number of technician topics. She studied computer technology and business administration at Harrisburg Area Community College.

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