How to Get Inexpensive Homeowners Insurance in Oklahoma

Contrary to what you may think, inexpensive homeowners insurance in Oklahoma is not a thing of the past. You can still get inexpensive insurance if you know how. Here's a brief rundown on how to do it.

What Homeowners Insurance Covers

Homeowners insurance does more than just protect your home, it also protects your personal possessions, and protects you from liability lawsuits. Here's what it covers:

Your home - Homeowners insurance will pay to repair or rebuild your home after it's been damaged by fire, smoke, vandalism, or acts of nature. It does not pay for damages caused by flooding or earthquakes, so if you live in an earthquake or flood zone you should consider purchasing additional coverage for these perils.

Your possessions - Homeowners insurance will pay to replace personal possessions like furniture, appliances, clothing, TVs, stereos, tools and sporting goods. There are payout limits on expensive items for jewelry and computers, but you can purchase additional coverage for these items if you need to.

Your assets - Homeowners insurance will pay your legal fees, your court costs, and any damages awarded to anyone who sues you for bodily injury or property damage. Standard policies provide a minimum of $100,000 worth of liability coverage, but if you have a lot of assets you need to protect you can purchase more.

Off premises living expenses - In the event your home needs repairs from damages caused by fire, smoke, vandalism, or storms, homeowners insurance will pay for your hotel, motel, and restaurant bill plus any other additional living expenses you incur.

Where to Get Inexpensive Homeowners Insurance

Getting inexpensive homeowners insurance in Oklahoma is a matter of getting rate quotes from a number of companies, comparing those quotes, and choosing the cheapest one.

Thanks to the Internet, what used to take half a day or more can now be done in a matter of minutes at an insurance comparison website. All you do is fill out a simple onine questionnaire with your insurance information and the amount of coverage you want, submit the questionnaire, and wait for your quotes.

The best insurance comparison sites even offer a chat service that allows you to get answers to you all your questions from an insurance expert. (See link below.)

How to Lower Your Rate Even Further

The first step in lowering your homeowners insurance rate is to raise your deductible, the amount you pay toward a claim before your insurance company will pay. For example, raising it from $500 to $1,000 will save you 15% to 25% on your premium. Just make sure you can afford to pay the higher deductible should you need to.

The next step is to get all the discounts you're eligible for. Insurance companies offer whole host of discounts to their policy holders, so you need to contact your insurer to find out about all the discounts that are available to you and include them in your policy.

by Brian Stevens