Homeowners Insurance -- 7 Proven Tips

It is really very easy for you to find adequate coverage for a lot less. The two things that are holding you from getting a better rate at the moment are the right information and a determination to use the tips you get -- Nothing more. Following is a list of steps that will help you achieve this goal...

1. Do not insure your home along with the land it is standing on as this will cost you more but very unnecessary. Folks do this ignorantly. They just insure their home for its complete value without removing the cost of the land.

If you made such a mistake, you'll have to review your home insurance coverage and go through it again with your agent. Deduct the land's cost and you'll find out that you'll need far less coverage.

With such a review you will lower your premiums considerably and still have adequate home insurance coverage. Because insurance is for valuables 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'll pay more or less depending on your credit history. You will attract higher home insurance rates if you have a low credit rating. What your credit rating shows is how you treat your bills and it speaks badly about you if it is a poor one. This is a behavior that most insurers believe will be exhibited in the way you handle your premiums. This makes you a bigger risk and so justifies a higher rate.

It will, therefore, be a smart step to do something about making your credit rating better. You'll attract lower rates if you do.

3. Electing to pay your rates on a monthly basis results in higher premiums than you'd pay if you decide to pay yearly. This is because sending you 12 payment notices by mail monthly costs your insurer a lot.

If you include the fact that each check you give is seen as a transaction by their bankers, you'll see that they still pay extra on transaction fees for each check you pay in. They pay transaction fees twelve times instead of once annually for monthly payments. And as with everything else, it's you the end user or policy holder who bears that cost.

So, you'll attract cheaper rates if you choose to pay your premiums yearly. The actual amount you could save might differ but you may be able to save up to a month's premium worth with most insurers if you choose this option.

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 around your home. Although cutting bushes around your house looks mundane, you'll get lower premiums if you do keep them at a distance of at least ten feet from your structures. Fire-safety is a strong factor that determines what you pay in premiums.

5. You will get cheaper rates if you've got motion-sensitive lighting for your home's exterior. Your home becomes a no-go area for thieves as they'll be noticed easily. Your rate will be lower you have lowered your home's risk of burglary with this kind of lighting.

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6. Make sure each door that leads outside has dead-bolt locks. This makes it hard for intruders or burglars to break in. And since a home's risk of burglary is a major factor in calculating your home insurance premiums, you will spend far less.

7. Fitting window locks on all your windows will help reduce your home's risk of burglary. You'll save even a lot more if you go one step more to get burglary-proof bars fitted on all of them. If you're not one of those folks who say that having such makes them feel imprisoned in their own home, have them fixed if you intend to lower your home insurance premiums by a huge margin.
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