If yourhome has a mortgage on it then your lender will insist that you purchase homeowner's insurance.
However, a substantial majority of people who do not have a mortgage on their home still choose to purchase insurance since their home represents their biggest asset and they wish - quite naturally - to do everything they can to protect that asset.
The primary thing homeowner's do to protect their homes is to purchase home insurance.
That's not to imply that all home insurance is equal - it is quite possible for you to find cheap high risk home insurance online.
In fact, just by typing the words "Homeowner's Insurance [followed by the name of your state]" into any search engine you will find literally dozens of websites that encourage you to compare the prices of homeowner's insurance from among a variety of different insurance companies.
However, if you really want to find the absolutely lowest price for your home insurance then you need to know how to fill out the forms that you will be confronted with in such a way as to create the lowest price possible.
For example, paying your premiums yearly will save you money.
Even if you can't afford to pay your premiums all at once you can still save money if you make your monthly payments automatically every month from your bank account.
Keeping your credit history pristine will also save you money on your home insurance.
Believe it or not, the higher your credit score the lower your monthly home insurance payment will be.
In each area of the country there are special perils which are not covered by a typical homeowner's insurance policy.
Earthquakes in California...
tornados in the Midwest...
high wind (hurricane) damage along the East coast, for example.
If you wish to cover these perils you will need special riders added to your policy at a higher cost.
Not paying extra for these special perils means that you are taking that risk upon yourself.
Flooding is another special risk.
No standard homeowner's policy covers flood damage.
For that you need to purchase a separate policy that is backed by the federal government.
There are things you can do around your home that will lower the cost of your homeowner's insurance.
One thing is to make your property less prone to potentially causing injuries that could lead to lawsuits.
Fix any broken or uneven concrete, fill in potholes, fix lose or damage floorboards on porches and decks and strengthen railings on decks and porches.
Add motion-sensitive floodlighting to your property to discourage burglaries.
Trim bushes away from windows, add deadbolts to all exterior doors and put locks on all windows to further discourage burglaries.
If you have a home security system added to your home, the kind that is monitored 24/7, you can save 20% or even more on your home insurance.
Be sure to talk to your agent ahead of time, however, as not all systems qualify for the full 20% discount on your monthly premium.
The higher your deductible the lower your monthly insurance premium.
Consider the amount of your deductible carefully, however, as you will be expected to come up with this amount in cash should you ever need to file a claim.
The last thing is to take the information you have learned from this article and apply it to the forms you will need to fill out on 3 different home insurance price comparison websites.
Be sure to take the time to fill out the forms on at least 3 different sites and be sure you fill out the form the same way each time so you are comparing the same policy each time.
That's it.
Now simply decide which insurance companies you are comfortable dealing with and then choose the lowest price from among those - and you've done it!You have found the cheapest high risk home insurance online and you know that you will be saving money month after month for years to come.