Home Insurance -- 4 Proven Ways To Get Discounts

Contrary to what you might be made to believe, it is quite easy to attract an affordable home owners insurance rate. The two things that keep you from enjoying a cheaper rate at the moment are relevant information and a commitment to make use of the recommendations you get -- Period. We'll now take a look at a few time-tested ways to get more for a lot less...

1. Don't insure your home along with the land it is standing on as this is more expensive but is needless. People who ignorantly do this pay for more insurance than would do them any good. They just insure their home for its complete value without removing the land's cost.

For those who have ignorantly done this, call your agent and go through your homeowners insurance coverage again. Lower your coverage to the cost of your home and its contents minus the cost of the land.

This implies that you'll spend a lot less on home insurance. Do not ever forget that insuring the land your home is built on is plain waste of money since it does you no good whatsoever.

2. What you pay as premium is affected by your credit rating. You will pay higher homeowners' insurance rates if you have a low credit rating. What your credit rating reveals is how you treat your bills and it speaks negatively about you if it's a poor one. No insurer is happy with this as it suggests a behavior you are very likely to repeat in the payment of premiums. If you are seen as a potential defaulter, it makes you a higher risk and attracts more expensive premiums than otherwise.

So do all within your power to pay all your bills in a timely manner. It will help you attract more affordable rates among other things.

3. Yearly premium payments will save you much when compared to monthly payments. An insurance carrier sends 12 notices for monthly payments as against one for annual payments. This increases their overhead.

The cost shoots up if you include the fact that they pay transaction charges for processing each check you give them monthly as payment. 12 checks mean Twelve transactions and will draw 12 separate fees.. And as with every other thing, it is you the customer or insured who bears that cost.

Therefore opt for yearly payments instead if you intend to make savings through this means. You could save up to a month's premium in just a single year.

4. You can save a lot of dollars by visiting at least 5 home insurance quotes sites. That way, you'll be able to get the lowest quotes possible since five sites will give not less than 25 quotes altogether.

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