Homeowner Insurance -- 7 Tested Tips

Contrary to what you might have thought, it is a lot easy to attract a lower rate. All you have to do to achieve this end are little bits of information (Put into good use). Let us get into the ideas you need to attract more affordable rates...

1. It's more expensive but very unnecessary to insure the land on which your home is built. A good number of people pay much more than they should on home insurance because they made this mistake. You've made the same mistake if you insured your home for the cost you bought it without checking the cost of the land it's standing on and subtracting it.

If you did this quickly meet with your agent and check through your home insurance policy. Subtract the land's value and you'll realize that you'll need far less coverage.

With such a review you will reduce your rates considerably and still leave with adequate home insurance coverage. Don't ever forget that insuring the land your home is standing on is plain waste of money since it does you no good whatsoever.

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2. You will spend more or less depending on your credit rating. The lower your credit rating, the higher the rates you attract. A poor credit rating implies that you've not been paying your bills in a timely fashion. An insurer interprets this to mean that you're not financially very responsible and will likely default in paying your premiums. This marks you out as a bigger risk and therefore attracts a higher rate.

Therefore, it is a wise decision to clear all your bills once they are due. Apart from the other benefits in doing so, it will ensure you get lower home insurance premiums.

3. You'll get lower rates if you elect to pay your premiums yearly and not monthly. This is because sending you twelve payment notices by mail each month costs your insurance company much.

As if that was NOT enough expense, each check you send attracts a transaction fees too. 12 checks mean 12 transactions and will draw 12 separate charges.. And as with every other thing, it's you the end user or policy holder who will be responsible for that cost.

So, you will attract lower premiums if you decide to pay your rates yearly. What you'll save could be as high as 8.5% of your total monthly premiums over the course of just a year.

4. A fire-safe home exterior will help reduce your rates. You'll be doing the right thing if you don't have anything that's inflammable around your home. As simple as it seems, cutting back bushes and maintaining them up to ten feet from your structures will help reduce your rates. The risk of fire in a home is a very strong issue that influences your home insurance premium.

5. You will get cheaper rates if you've got motion-sensitive lighting on your property. Burglars will avoid any place where their activities will be easily observed. And motion-sensitive lighting does this precisely. The risk of burglary is a strong factor in checking a home's risk to an insurance company and, by extension, your rate.

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6. Fixing dead-bolt locks on every exterior door will reduce your home insurance rate. They will make it more difficult for burglars to get into your house. And since a home's risk of burglary is a major factor in calculating your home insurance rates, you'll spend far less.

7. Do you have locks on all your windows? If you do NOT you will be paying more because of that. You can take this to another level by fixing burglary-proof bars on all your windows. Therefore, if you are okay with having burglary-proof bars in your house, have them fixed and you will be charged a lot less in your home insurance premium.
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