Homeowners Insurance -- 7 Proven Tips

Contrary to what you might be made to believe, it's a lot easy to get a lower rate. The two things that are holding you from enjoying a better rate at the moment are the right information and a determination to make use of the tips you get -- Period. Following is a list of things that will help you get to this goal...

1. Make sure you do NOT forget to deduct the land's worth from your home's cost while applying for a home insurance policy. A good number of folks spend much more than they should on home insurance on account of this mistake. You've made the same mistake if you insured your house for the cost you bought it without checking the cost of the land it is standing on and deducting it.

If you did this quickly meet with your agent and re-evaluate your coverage. Subtract the cost of your land and buy coverage only for your home and its contents.

This implies that you will spend a lot less on home insurance. Bearing in mind that insurance is for valuables that can be lost or damaged, insuring the land which can neither be lost or damaged isn't a smart move.

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2. Your rate is affected by your credit rating. You'll attract higher home insurance premiums if you have a low credit rating. If your credit rating is bad then you've NOT been faithful in paying up your bills. No insurer likes this as it shows a pattern you're quite likely to repeat in the payment of premiums. This makes you a bigger risk and so justifies a higher rate.

So do your best possible to pay all your bills in a promptly. It makes it easier for you to get more affordable rates among other things.

3. Electing to pay your premiums monthly leads to more expensive rates than you would pay if you choose to pay yearly. This is because sending you 12 payment notices by mail each month costs your insurer a lot.

As if that was NOT enough expense, each check you send attracts its own transaction fees as well. twelve checks mean 12 transactions which attract 12 separate transaction charges. And as with every other thing, it is you the end user or policy holder who bears that cost.

You will make reasonable savings if you begin to pay annually. The real amount you could save may differ but expect to save up to a month's premium worth with some insurers if you choose this option.

4. Make the exterior of your house fire-safe and you will lower your home insurance rate. Do you have things that could likely help combustion close to your structure? They'll make you get higher rates. Even though cutting bushes around your house looks mundane, you'll get cheaper premiums if you do keep them at a distance of at least ten feet from your building. Fire-safety is a major factor that determines what you pay as premiums.

5. Motion-sensitive lighting reduces your home's risk of burglary and, therefore, makes it easier for you to get cheaper home insurance premiums. Burglars will avoid any place where their movement will be easily observed. And motion-sensitive lighting does just that. Because thieves avoid homes with such lighting, you lower your home's risk of burglary and, by extension, your rates.

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6. Dead-bolt locks on all your exterior doors will help you attract a more affordable rate. It's more difficult for thieves to operate in homes that have such locks. And because a home's risk of burglary is a key factor in calculating your home insurance rates, you'll pay far less.

7. Do you have locks on each of your windows? If you do NOT you'll be paying more because of that. You can take this to another level by fixing burglary-proof bars on all your windows. If you're not one of those folks who feel so uncomfortable with such, they'll get you huge discounts. If you are not one of those folks who claim that having such makes them feel imprisoned in their own house, have them fixed if you want to lower your home insurance rates considerably.
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