Homeowners Insurance -- Seven Proven Tips

Everyone can enjoy high value coverage without breaking the bank. The only things that stand between you and getting a cheaper rate now are the right information and a resolve to use the recommendations you get -- Nothing more. Let's look at several time-tested ways to get more for a lot less...

1. Ensure you don't fail to deduct the land's value from the home's cost while applying for a home insurance policy. A good number of folks pay much more than they should on home insurance on account of this mistake. You have made the same mistake if you insured your home for the cost you purchased it without finding out the cost of the land it is built on and subtracting it.

For folks who have ignorantly done this, call your agent and check your home insurance coverage again. Deduct the land's cost and you will discover that you'll need far less coverage.

Your premium will be more affordable and you'll still have enough coverage if you do this right. No matter what you do and who you get in contact with, remember that the only things you insure are things that can be lost or destroyed and your land is not one of such.

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2. Your credit history has a serious impact on your rate. You will pay higher home insurance premiums if you have a low credit rating. A poor credit rating means that you've not been paying your bills promptly. An insurer takes this to mean that you are not financially very responsible and will possibly default in paying your rates. If you are considered a potential defaulter, it makes you a higher risk and draws much higher premiums than otherwise.

It will, therefore, be a good step to do something about improving your credit rating. Apart from the other benefits in doing so, it will ensure you get lower home insurance premiums.

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

The cost shoots up if you add the fact that they pay transaction fees for processing each check you give them monthly as payment. Twelve checks mean 12 transactions and will attract Twelve separate fees.. And as with everything else, it's you the client or policy holder who bears that cost.

You will make reasonable savings if you begin to pay yearly. The actual amount you could save may differ but you may be able to save up to a month's premium worth with most insurers if you settle for this option.

4. Make sure that the exterior of your home is fire-safe and your premium will be cheaper. Having things that are very inflammable or that help combustion close to your dwelling will make you pay higher rates. As simple as it seems, cutting back bushes and keeping them up to 10 feet from your structures will help lower your rates. Fire-safety is a major factor that determines how much or little you pay as premiums.

5. You'll as well enjoy a discount if you have motion-sensitive lighting on your property. Your house becomes a no-go area for thieves as they'll be noticed easily. Since thieves keep off from houses with such lighting, you reduce your home's risk of burglary and, consequently, your premiums.

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

7. Window locks on all windows will save you a little because they reduce your home's risk of burglary. You can take this to another level by fixing burglary-proof bars on them all. Although most folks don't like this because it makes them feel imprisoned in their own home, it really does lower your premium considerably. Therefore, if you don't mind having burglary-proof bars in your house, have them built in and you'll pay a lot less in your home insurance rate.
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