- 1). Locate an estimate of the home's value. Property insurance rates are based on the value of the property. Property values are located through tools, such as Yahoo Real Estate or Zillow. Another option for finding the home value is talking with a real estate agent. The agent can provide a market value for the property.
- 2). Calculate the cost of property insurance. Most insurance companies calculate insurance based on 0.5 percent of the total property value. For example, if the home's value is $300,000, the cost of property insurance is $1,500 annually.
- 3). Contact reputable insurance companies and request quotes. Companies can be found through the National Association of Professional Insurance Agents. Requesting several quotes will ensure you secure the lowest property insurance rate.
- 4). Inquire about discounts for having multiple policies with the same company. For example, if you have automobile, life insurance and property insurance policies with the same organization, the company will likely provide a discount.
- 5). Ask the agent about extra insurance policies, like insurance for earthquakes. Basic homeowner's insurance doesn't cover all hazards. There are some coverages that cost extra.
