Homeowner Insurance -- 7 Sure Tips

Contrary to what you might have thought, it's quite easy to get a lower rate. You just need the right recommendations and the motivation to practice what you'll be taught to get a cheaper rate. Below are a number of things that will help you reach this goal...

1. It's more expensive but very unnecessary to insure the land on which your home is built. Some people pay much more than they should on home insurance because they made this mistake. Insuring your home for the full price you bought it without deducting the land's worth is a big mistake.

For folks who've ignorantly done this, meet with your agent and go through your home insurance coverage again. Reduce your coverage to the worth of your home and its contents minus the land's value.

Doing this will lower your rates by a huge margin and still leave with enough home insurance coverage. Since insurance is for valuables that can be lost or damaged, insuring the land which can neither get lost or damaged isn't right.

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2. Your credit history has a huge impact on what you pay. People who have very good ratings spend far less than those who have low ratings. A poor credit rating suggests that you've not been paying your bills in a timely fashion. This is a pattern that most insurers believe will play out again in the way you treat your premiums. This makes you less attractive to them and you, therefore, are made to spend higher than someone else with the same profile that has an excellent rating.

So do your utmost to pay all your bills in a timely manner. You will attract cheaper premiums if you do.

3. You'll get more affordable rates if you elect to pay your rates annually and not monthly. Your insurer is compelled to send you 12 notices for monthly payments as against one for annual payments. This costs them more.

As if that was NOT enough expense, each check they get attracts a transaction charge too. 12 checks mean 12 transactions which attract 12 separate transaction charges. And as with everything else, it's you the end user or policy holder who bears that cost.

As a result, you'll attract cheaper rates if you decide to pay your premiums annually. What you will save could be as much 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 lower. Having things that are quite inflammable or that help combustion close to your dwelling will make you pay higher rates. Even though cutting bushes around your home looks mundane, you will get cheaper premiums if you do maintain them at a distance of at least 10 feet from your building. The likelihood of fire in a house is a very strong issue that shapes your home insurance rate.

5. You'll get cheaper rates if you have motion-sensitive lighting on your property. Burglars will avoid any place where their movement will be easily noticed. And motion-sensitive lighting does this exactly. Your rate will be lower you have lowered your home's risk of burglary with this kind of lighting.

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6. Fixing dead-bolt locks on all exterior door will lower your home insurance premium. This makes it difficult for intruders or burglars to have their way. The more protected your home is against burglary, the better the risk involved in insuring it.

7. Having window locks on each of your windows will help reduce your home's risk of burglary. You can take this to another level by fixing burglary-proof bars on them all. If you're not one of those people who have a deep hatred for such, they'll help you get considerable discounts. So, if you don't mind having burglary-proof bars in your house, have them built in and you'll pay much less in your home insurance rate.
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