People who have discovered the right steps to take don't have any problems getting the lowest rates without compromise to the quality of coverage they enjoy. This article will show you steps you can take to pay less without compromising the level of coverage you get...

1. A home without fire escapes is NOT really safe as it could be. Does yours have them? Don't fail to tell your agent about this or you might lose the discount you are entitled to. Even if all you have are simple rope ladders for the upper rooms, you still could get some discounts. If, on the contrary, you do not have any fire escape or the right number and type, you are possibly losing discounts you should get. Ask your agent to know what makes you eligible for such a discount.

2. Even though you have the option of insuring against all imaginable peril, you really do NOT need to. The likelihood of certain perils in your state is too low to make purchasing coverage for them a real need. Different states have perils that are likely and those that can rarely ever happen.

It pays to ensure you insure your home against every peril that has a reasonable possibility of occurring. Buying insurance for a peril that has never occurred in a state can be rightly seen as financial waste. Choosing the right perils will make you buy only coverage that is necessary. This will help you pay NOT a dime more than you should.

3. You will reduce your home insurance premium by up to 15% if you update your heating, electrical and plumbing systems. Although you may enjoy the old-fashioned fire place, you do know that it is really not as fire-safe as a current heating system. Building technology has advanced in many ways to make your home safer. Taking these steps will reduce your rates and will, in most cases, as well bring up the value of your home.

4. Get a group homeowners' insurance policy if within your reach because you'll attract a cheaper rate with it. You should be aware if your employer offers such. You can confirm from associations you are part of since they might have obtained group discounts for home insurance.

I will, however, recommend that you still get and compare quotes from other insurance companies that your association may have no affiliations with. This is because you might end up getting an insurer that is willing to take less than you will even receive with your association's discount. So it really does pay to do extensive comparison shopping if you intend to have the most affordable premiums.

5. Do you know everything your home insurance policy excludes? Bear in mind that you won't get compensated for things that are excluded from your policy.

While paying lower premiums is interesting, it's only when the cheaper premiums do not leave you compromised. However inexpensive a policy is, it loses its meaning if it doesn't provide adequate coverage. Do NOT wait until you file a claim to find out that you really didn't have the coverage you needed.

6. You will save a lot if you will shop around and do detailed comparison. The range of quotes presented for a query could be as wide as $1,000 for a given profile. While this is a good thing, it's important that you don't get carried away. It's not normally that easy if you're after the best price/value. The lowest quote may not offer you the best price/value. Although each of the quotes presented will certainly give you the same basic coverage, there could be a lot of differences in the details of coverage. This makes it imperative that you find out if there aren't any exclusions that won't serve your best interest. Remember to treat these no-obligation quotes as their name implies. Don't feel you have to pay unless you've had all your questions answered to your satisfaction. You will saved from rude surprises later if you do this.