If you live in a flood-prone area a basic homeowner's insurance policy will not protect your home in the event of a flood. You will need to pay extra for government-sponsored flood insurance.



Also, each section of the country has some peril unique to that area which is not covered by a standard homeowner's policy. Along the west coast, for example, earthquake insurance must now be purchased separately at an additional cost. Along the east coast wind-damage insurance must be purchased separately - again, at a higher cost.

Not purchasing these additional forms of homeowner's insurance can be risky.

There are several ways for you to save money on yours. For example, making your monthly payments automatically from your bank account saves the insurance company billing expenses and so saves you money as well.

If you make your home safer so there is less chance of an injury-related lawsuit you should save money. That means simply filling in all potholes on the property, repairing any broken concrete (especially walkways) and replacing any lose or broken floorboards on porches or decks.

Broken water pipes flooding a home are the main source of claims filed by the average homeowner, so upgrading your plumbing system could save you a considerable amount every single month. Talk to your agent before you begin such a large undertaking to see exactly how much you would save every month.

Fire is another major concern that insurance companies have. Cut bushes and brush back at least 20 feet away from any structure on your property. Make sure you have the right number of smoke, fire and carbon monoxide detectors installed in your home and that they each have a good battery. Install a kitchen-rated fire extinguisher in your kitchen.

If you install a round-the-clock home protection system you can save as much as 20% a month on your home insurance every single month. Your agent will be able to help you choose a system that will save you the most money possible. You may be able to get an even larger savings if you have a home-based business and if you qualify for a tax deduction as well.

If you can afford to increase your deductible you will realize an instant savings on your monthly cost of home insurance. Just be sure that you can afford to pay your deductible out of your own resources if you ever need to file a claim.

Also keep in mind that if you are claim-free for three or more years you may be entitled to an additional discount on your monthly premium.

Another way to save money on your affordable high risk homeowner's insurance is to buy your policy online. Just be sure that you make your price comparisons on at least 3 different price comparison sites rather than relying on just one. That way you'll be sure to see the prices from the largest number companies possible.

Once you've collected all of your price comparisons then simply make a decision which companies you feel comfortable dealing with over a long period of time and then pick the best possible price you can find. And that's how you find the most affordable high risk homeowner's insurance online.