Home Owners Insurance -- 7 Tested Tips

It's really very easy for you to buy the right coverage at a low price. All you need to achieve this feat are pieces of information (Put into good use). Let us get into the tips you need to get more affordable rates...

1. Make sure you don't forget to deduct the land's value from the home's value while applying for a home insurance policy. Those who ignorantly do this pay for more insurance than would be of any benefit. You have made the same mistake if you insured your house for the price you purchased it without finding out the cost of the land it is built on and deducting it.

If you made this mistake quickly meet with your agent and re-evaluate your home insurance policy. Reduce your coverage to the cost of your home and its contents minus the land's cost.

Doing this will lower your premiums considerably and still leave with adequate home insurance coverage. Don't ever forget that insuring the land your home is built on is plain waste of money since it does you no good whatsoever.

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2. Your credit history has a serious impact on your rate. Folks who have very good ratings pay far less than people who have low ratings. What your credit rating reveals is how you treat your bills and it speaks negatively about you if it is a poor one. An insurance company takes this to mean that you are not financially very responsible and will possibly default in paying your premiums. This makes you a higher risk to them and you, therefore, are made to spend much more than some other person with similar profile that has an excellent rating.

Therefore, it will do you much good to clear all your bills promptly. You'll get lower rates if you do.

3. Making your premium payments once every year will save you much when compared to monthly payments. This is because posting 12 bills by mail monthly costs your insurance company a lot.

The cost increases if you add the fact that they pay transaction charges for processing each check you give them monthly as payment. 12 checks are 12 transactions which attract 12 separate transaction charges. And, believe it or not, these additional overheads are eventually built into your rates.

So, you'll attract lower premiums if you decide to pay your rates yearly. The real amount you could save may differ but expect to save up to a month's premium worth with most insurers if you settle for this option.

4. Make the exterior of your home fire-safe and you will lower your home insurance rate. Having things that are very inflammable or that aid combustion close to your building will make you pay more expensive rates. Bushes near your home should be cut and maintained at not less than ten feet from your structure. Fire-safety is a strong point that determines how much or little you pay in premiums.

5. You will also enjoy a discount if you have motion-sensitive lighting in your home. Thieves naturally do NOT like to operate in any environment they could be easily seen or caught. Since thieves keep off from houses with such lighting, you lower your home's risk of burglary and, by extension, your premiums.

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6. Do ensure that each door that leads outside has dead-bolt locks. It's more difficult for burglars to break into homes that have these locks. And as you know, the lower the risk of burglary in a house, the cheaper rates it will attract.

7. Window locks on all windows will help you save since they reduce your home's risk of burglary. You'll save even much more if you go further to have burglary-proof bars fitted on every window. So, if you don't mind having burglary-proof bars in your home, have them built in and you'll be charged much less in your home insurance premium.
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