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One of the best ways to create an Affordable Mortgage Insurance policy is to adjust your benefits down and your deductibles up. You see, when you have a combination of high deductibles and lower benefits, you're taking some of the risk off of the insurance company's shoulders. You're basically agreeing to carry some of the financial burden of an insurable event through your deductible and limiting the insurer's exposure to risk by keeping a small benefit.
Of course, an Affordable Mortgage Insurance policy still needs to provide you with some benefit in order to be worthwhile. That's why it's so important to compare rates among multiple companies—while one company might charge you an affordable premium for a ridiculously high deductible that would wipe out your life savings and a ridiculously low benefit that wouldn't even pay to get your home repaired, another might offer an affordable premium with deductibles and limits you can handle.
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