Homeowner Insurance -- 7 Tested Tips

It's quite very easy for you to buy the right coverage at a low price. The two things that stand between you and enjoying a better rate at the moment are relevant information and a commitment to use the recommendations you get -- Nothing more. Let us get into the tips you need to attract cheaper rates...

1. Don't insure your house along with the land it is built on as this is more expensive but quite unnecessary. A good number of people pay much more than they should on home insurance on account of this mistake. Insuring your home for the full price you bought it without deducting the land's worth is an expensive error.

If you made this mistake quickly call your agent and check through your coverage. Subtract the land's cost and you will discover that you'll need far less coverage.

With such a review you will lower your rates by a huge margin and still have adequate home insurance coverage. No matter what you do and who you get in contact with, remember 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 credit history has a big impact on your rate. You will attract higher home insurance rates if you have a poor credit rating. What your credit rating shows is how you have handled your bills and it speaks badly about you if it is a poor one. No insurer is happy with this as it shows a behavior you're quite likely to repeat in the payment of rates. If you're seen as a likely defaulter, it makes you a higher risk and attracts more expensive rates than otherwise.

Therefore, it will do you much good to pay all your bills once they are due. Apart from the other benefits in doing so, it will ensure you get cheaper home insurance rates.

3. Making your premium payments once every year will save you a lot when compared to monthly payments. Your insurer sends 12 notices for monthly payments instead of one for annual payments. This costs them more.

The cost increases if you add the fact that they pay transaction fees for processing each check you send them monthly. 12 checks are 12 transactions which incur 12 different transaction charges. And as with every other thing, it's you the client or policy holder who bears that cost.

So, you will attract lower premiums if you opt to pay your rates yearly. What you will 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 home fire-safe and you'll reduce your home insurance rate. You'll do well if you ensure there's nothing that is inflammable around your home. Bushes near your home should be cut and maintained at not less than ten feet from your building. This is because how fire-safe a home is goes a long way in determining what it will cost to insure it.

5. You'll get cheaper rates if you've got motion-sensitive lighting for your home's exterior. Thieves naturally do NOT like to operate in any environment they could be easily noticed or caught. The risk of burglary is a strong factor in checking a home's risk to an insurance company and, consequently, your rate.

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6. Make sure every door that leads outside has dead-bolt locks. They will make it harder for burglars to break into your home. The more fortified your home is against burglary, the better the risk involved in insuring it.

7. Fitting window locks on all your windows will help reduce your home's risk of burglary. You can take this to another level by building in burglary-proof bars on them all. Even though some people do not like this because it makes them feel imprisoned in their own home, it really does lower your rate by a good amount. If you're not one of those folks who claim that having such amounts to being imprisoned in their own house, have them fitted if you intend to lower your home insurance premiums considerably.
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