Home Owners Insurance -- 7 Sure Tips

It's truly very easy for you to find the right coverage for a lot less. The two things that are holding you from attracting a cheaper rate now are the right information and a resolve to make use of the information you get -- That's all. Below is a list of steps that will help you get to this goal...

1. Ensure you do NOT forget to deduct the land's cost from your home's cost while applying for a home insurance policy. Folks do this without knowing. You've made the same mistake if you insured your house for the price you bought it without checking the cost of the land it's standing on and subtracting it.

If you made such a mistake, you need to review your home insurance coverage and go through it again with your agent. Reduce your coverage to the cost of your home and its contents minus the land's cost.

Your rate will be less and you'll still have sufficient coverage if you do this right. Bearing in mind that insurance is for things that can be lost or damaged, insuring the land which can neither get lost or damaged isn't a smart move.

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2. What you pay as premium is influenced by your credit history. You'll pay higher home insurance rates if you have a low credit rating. A poor credit rating suggests that you've not been paying your bills in a timely fashion. An insurer interprets this to mean that you're financially irresponsible and will possibly default in paying your premiums. If you're seen as a potential defaulter, it makes you a higher risk and attracts much higher premiums than otherwise.

It will, therefore, be a good step to do something about making your credit rating better. It makes it easier for you to get cheaper rates among other things.

3. Electing to pay your rates monthly leads to more expensive premiums than you'd pay if you decide to pay annually. A strong reason for this is the cost an insurer incurs by posting you twelve payment notices instead of just one each year.

The cost increases if you add the fact that they pay transaction fees for processing each check you send them monthly. They pay transaction fees 12 times instead of once a year for monthly payments. And, believe it or not, these additional overheads are eventually added to your rates.

So, you will attract cheaper premiums if you opt to pay your rates annually. What you will save could be as high as 8.5% of your total monthly payments over the course of just one year.

4. Make sure that the exterior of your home is fire-safe and your premium will be more affordable. You'll do well if you ensure there's nothing that is inflammable around your home. Even though cutting bushes around your home looks simple, you'll get cheaper premiums if you do maintain them at a distance of at least ten feet from your structures. The likelihood of fire in a house is a very strong issue that shapes your home insurance rate.

5. You will get cheaper rates if you have motion-sensitive lighting on your property. Your house becomes less attractive to thieves as they'll be noticed easily. Your rate will be lower you have lowered your home's risk of burglary through this kind of lighting.

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6. Do ensure that every door that leads outside has dead-bolt locks. They will make it harder for burglars to get into your home. And since a home's risk of burglary is a strong determinant of home insurance premiums, you'll spend 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 will save even a lot more if you go one step more to have burglary-proof bars fitted on every window. If you are not one of those people who claim that having such makes them feel imprisoned in their own home, have them fitted if you intend to lower your home insurance premiums by a huge margin.
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