Homeowners Insurance -- Seven Proven Tips

You can enjoy high value coverage without breaking the bank. You just need the right recommendations and the discipline to practice what you'll be taught to get a better rate. We'll now take a look at several sure-fire ways to get better rates...

1. Make sure you don't forget to deduct the land's value from the home's cost as you apply for a home insurance policy. Those who ignorantly do this pay for more insurance than would do them any good. You've made the same mistake if you insured your house for the price you purchased it without finding out the cost of the land it is standing on and deducting it.

If you did this quickly meet with your agent and review your coverage. Lower your coverage to the worth of your house and its contents minus the land's cost.

This implies that you'll pay a lot less on home insurance. No matter what you do and who you meet, remember that the only things you insure are things that can be stolen or destroyed and your land is not one of such.

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2. What you pay as premium is affected by your credit rating. Folks who have excellent ratings pay far less than those who have poor ratings. If your credit rating is bad then you've NOT been faithful in paying up your bills. An insurer interprets this to mean that you're financially irresponsible and will likely default in paying your rates. If you are considered a likely defaulter, it makes you a bigger risk and draws more expensive premiums than otherwise.

It will, therefore, be a smart step to do something about improving your credit rating. It will help you get cheaper rates among other things.

3. Yearly premium payments will save you a lot when compared to monthly payments. Your insurer is compelled to send you 12 notices for monthly payments as against one for annual payments. This increases their overhead.

If you add to the fact that each check you cut is considered a transaction by their bankers, you will see that they still pay extra on transaction fees for each check you pay in. 12 checks mean Twelve transactions and will draw Twelve separate fees.. And, if you really come to think of it, these extra overheads are eventually built into your rates.

You will make reasonable savings if you begin to pay yearly. You could save up to a month's premium in just a single year.

4. Make the exterior of your home fire-safe and you will lower your home insurance rate. Do you have things that could likely aid combustion near your structure? They'll make you get higher rates. As easy as it seems, cutting back bushes and keeping them up to 10 feet from your structures will help reduce your rates. 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 as well get a discount if you have motion-sensitive lighting on your property. Your home becomes less attractive to thieves because they'll be spotted easily. The risk of burglary is a strong factor in calculating a home's risk to an insurer and, consequently, your premium.

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6. Having dead-bolt locks on every exterior door will bring down your home insurance premium. This makes it difficult for intruders or burglars to have their way. And as you know, the less the risk of burglary in a house, the lower premiums it will get.

7. Having window locks on each of your windows will help reduce your home's risk of burglary. You'll save even much more if you go one step more to get burglary-proof bars fitted on every window. If you're not one of those folks who have a deep hatred for such, they'll help you get huge discounts. If you have nothing against this have them fitted in your home and get lower rates.
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