Generally, purchasing homeowners insurance is not a requirement. Because of this, many people opt not to purchase homeowners insurance. Why spend money on something that you are not required to have and may not ever need?

Because the time might come that you need it. Luckily, there are ways to find affordable homeowners insurance. 

Compare the coverage and rates of several insurance companies before deciding on one that’s right for you. You don’t want to be sucked in by a company that promises but doesn’t deliver, only to find that you’ve wasted time and money. You should also consider buying from the same company that you already purchase another kind of insurance from. Some insurance companies offer both home and auto insurance and you can usually save money by purchasing both from the same company. Also, if you remain a loyal customer for several years, some insurance companies will offer you special discounts. Ask about these and other discounts. 

Many insurance companies will base the price of homeowners insurance on the homeowner’s credit history. Your credit history isn’t something you can change, but you can make efforts to improve it. Many people find they are able to get affordable homeowners insurance if they make some changes to their homes. For example, if you live in a high risk area for floods, storms, or crime, you may consider investing in a new roof, stronger windows, and a reliable security system. 

You shouldn’t include the land your home sits on in your policy, as it’s very rarely damaged to the degree that a house is, and since the value of certain properties included in your policy tends to change over time, and by reviewing your policy you could prevent paying more than you need to. 

Unfortunately, nothing is free, including any type of insurance; however, you can take steps to increase your odds of finding affordable homeowners insurance.