Home insurance plans are a must if you are a homeowner. Your homeowner's insurance policy will protect your investment in a variety of situations including natural disasters, break-ins, and other unfortunate events. The key to a good insurance policy is balancing coverage with affordability. You want enough coverage to suit your needs without breaking your budget. The good news is that there are plenty of ways to get an affordable policy. Here are three tips for getting the best deal on home insurance.

Shop Around

One of the easiest ways to save on your homeowner's insurance policy is by shopping around. Taking a look at multiple policies, insurance companies, and plans is one of the best ways to find the coverage you need for a price you can afford. Just by shopping around many homeowners find that they save hundreds and even up to $1,000 a year in premiums. If you already have a policy in place, you may also find a better deal by simply looking around at other policies. Every few years it's a good idea to reassess your current coverage and to shop around for a better deal. 

Bundle Your Policies

Chances are that a home insurance policy is not the only insurance policy that you carry. Other policies, such as auto insurance, can be bundled in with your homeowner's insurance. Bundling can mean significant savings. If you currently have policies with different insurance companies, getting a quote for bundling is something that you may want to consider. How much you save will vary depending on what state you live in and also the type of policies you need. On average bundling your home and auto insurance policies can save you 15.97 percent.

Consider A Higher Deductible

If you live in an area with quiet weather, low crime rates, and that is otherwise tranquil, you may want to consider raising you deductible. Your deductible is the amount you are responsible for if you have to make a claim. If you can afford a higher deductible, it can mean significant savings over the course of the year. Raising your deductible to $1,000 can save you up to 25 percent a year on your premiums. However, if you are in a disaster prone area this may not be the best option for your needs.

Getting a deal on your home insurance is easier than you may think. There are a variety of ways to save. Shopping around for a policy can help you find the right amount of coverage within your budget. Bundling auto and home insurance can also mean significant savings. Going with a higher deductible can also mean lower premiums over the course of the year.