What's Better, Cheap or Expensive Homeowner Insurance?

What's better, cheap or expensive homeowner insurance? You have probably heard the old adage "you get what you pay for," but does it really hold true when it comes to purchasing insurance? Surprisingly, the answer might not be as simple as you think. Cheap homeowner insurance doesn't necessarily mean lower quality or even less service. Sometimes the company is able to leverage technology to help reduce rates by allowing consumers to buy direct. Other times the company is able to reduce rates by only writing certain types of lower-risk policies or other safety-based measures designed to keep costs low. Finally, it's sometimes possible to find cheap homeowner insurance simply by searching for a new provider that hasn't been hit by expensive claims in the past several years. To make sure you find the lowest possible rates without comprising security, be sure to ask the following questions:

1. Why are your rates lower than other comparable home insurance quotes?
2. How often do you raise rates and when was the last rate increase?
3. Whom will I contact in the event of a claim or problem related to my policy?