48 Home Insurance Savings Tips -- Guaranteed Steps To Very Cheap Homeowners Insurance Rates

Tuesday, November 10, 2009

Homeowner Insurance -- Seven Tested Tips


Contrary to what you might have thought, it is a lot easy to get a lower rate. You just need the right information and the determination to implement what you'll be taught to start enjoying a cheaper rate. Following are a number of steps that will help you achieve this goal...

1. Make sure you do NOT fail to deduct the land's value from the home's cost as you apply for a home insurance policy. Some people pay much more than they should on home insurance on account of this mistake. You have made the same mistake if you insured your house for the cost you bought it without checking the cost of the land it is built on and deducting it.

For those who have ignorantly done this, call your agent and check your home insurance coverage again. Reduce your coverage to the worth of your home and its contents minus the land's cost.

Your rate will be more affordable and you'll still have adequate coverage if you do this right. No matter what you do and who you get in contact with, bear it in mind that the only things you insure are things that can be stolen or damaged and your land is not one of such.

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2. Your rate is influenced by your credit rating. Folks who have excellent ratings pay far less than those who have poor ratings. A poor credit rating suggests that you have not been paying your bills in a timely fashion. An insurance company takes this to mean that you are financially irresponsible and will possibly default in paying your rates. This makes you a bigger risk and therefore justifies a higher rate.

Therefore, it is a wise decision to clear all your bills once they are due. You will get cheaper premiums if you do.

3. You'll get lower rates if you elect to pay your rates annually and not monthly. An insurer sends 12 notices for monthly payments instead of one for annual payments. This increases their overhead.

Furthermore, each check they get attracts a transaction charge as well. They pay transaction charges 12 times instead of once annually for monthly payments. These and other costs so incurred by your insurance company are eventually borne by you, the policy holder..

So, you'll attract lower rates if you opt to pay your premiums yearly. What you'll save could be as high as 8.5% of your total monthly premiums over the course of just a year.

4. Make the exterior of your house fire-safe and you'll reduce your home insurance rate. Do you have things that could easily aid combustion near your structure? They will make you get higher rates. Bushes near your home should be cut and maintained at a distance of at least 10 feet from your building. This is because how fire-safe a house is goes a long way in shaping what it will cost to insure that home.

5. You'll also get a discount if you have motion-sensitive lighting for your home's exterior. Burglars will avoid any place where their movement will be easily observed. And motion-sensitive lighting does this precisely. Your rate will be reduced once you've lowered your home's risk of burglary with this type of lighting.

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6. Do ensure that each door to the exterior has dead-bolt locks. They will make it more difficult for burglars to get into your house. The more protected your home is against burglary, the lower the risk taken in insuring it.

7. Do you have locks on each of your windows? If you do NOT you will be spending more because of that. You can take this to another level by building in burglary-proof bars on them all. Even though some folks don't like this because it makes them feel like a prisoner in their own house, it really does reduce your rate by a good amount. So, if you are not bothered by having burglary-proof bars in your house, have them fixed and you will pay much less in your home insurance premium.
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