Home Owners Insurance -- Seven Tested Tips

Contrary to what you might be made to believe, it's quite easy to get an affordable rate. All you have to do to achieve this goal are pieces of information (that you'd have to implement, though). Below are a few things that will help you get to this goal...

1. It is more expensive but very unnecessary to insure the land on which your house is standing. Some folks pay much more than they should on home insurance because they made this mistake. 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's built on and subtracting it.

If you did such ignorantly, you need to review your home insurance coverage and check it again with your agent. Reduce your coverage to the worth of your home and its contents minus the land's value.

This implies that you'll spend a lot less on home insurance. Since 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. You will spend more or less depending on your credit history. People who have very good ratings spend far less than those who have poor ratings. If your credit rating is poor then you've NOT been faithful in paying up your bills. This is a behavior that most insurers believe will play out again in the way you pay up your premiums. This makes you a higher risk to them and you, therefore, are made to spend higher than some other person with similar profile that has a very good rating.

Therefore, it will do you much good to pay all your bills once they are due. You will attract cheaper premiums if you do.

3. Yearly premium payments will save you much when compared to monthly payments. A strong reason for this is the cost an insurance company incurs by sending you twelve payment notices instead of just one each year.

If you add to the fact that each check you make out is considered a transaction by their bankers, you'll see that they still pay some more on transaction charges for each check you pay in. 12 checks mean Twelve transactions and will attract 12 separate charges.. These and other costs so incurred by your insurer are ultimately passed over to you, the insured..

You will make reasonable savings if you begin to pay annually. 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'll reduce your home insurance rate. You'll be doing the right thing if you ensure there's nothing that is inflammable close to your home. Bushes near your house should be cut and maintained at a distance of at least 10 feet from your structure. Fire-safety is a strong factor that determines what you pay as premiums.

5. You'll as well get a discount if you have motion-sensitive lighting in your home. Burglars will keep off from places where their movement will be easily noticed. And motion-sensitive lighting does just that. The risk of burglary is a strong factor in determining a home's risk to an insurance company and, consequently, your premium.

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6. Make sure each door that leads outside has dead-bolt locks. They will make it more difficult for burglars to get into your home. And as you know, the less the risk of burglary in a house, the cheaper rates it will attract.

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 fixing burglary-proof bars on all your windows. Although some people don't like this because it makes them feel imprisoned in their own home, it really does reduce your premium by a good amount. Therefore, if you are okay with having burglary-proof bars in your home, have them fixed and you will pay a lot less in your home insurance rate.
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