Homeowners' Insurance -- 4 Tested Ways To Get Discounts

Contrary to what you might be made to believe, it is quite easy to position yourself for a lower home owner insurance rate. You just need the right information and the determination to implement what you'll learn to start enjoying a more affordable rate. Let us now look at a number of sure-fire ways to get better rates...

1. Ensure you don't make the mistake of not subtracting the land's cost from your home's value while applying for an homeowner insurance policy. People do this without knowing. You've made same mistake if you insured your home for the price you bought it without finding out the cost of the land it is standing on and subtracting it.

If you made this mistake quickly call your agent and re-evaluate your homeowners insurance policy. Deduct the cost of the land and you'll find out that you will need far less coverage.

This means you will pay a lot less on home insurance. No matter what you do and who you get in contact with, bear it in mind that the only things you insure are things that can be lost or damaged and your land is not one of such.

2. Your credit rating has a big impact on your rate. The poorer your credit rating, the higher the premiums you will pay. What your credit rating reveals is how you have handled your bills and it speaks badly about you if it is a poor one. This is a pattern that most insurers believe will play out again in the way you pay up your premiums. If you are considered a potential defaulter, it makes you a higher risk and draws much higher rates than otherwise.

It'll, therefore, be a good step to do something about making your credit rating better. It will help you attract cheaper rates among other things.

3. Making your premium payments once every year will save you a lot when compared to monthly payments. Your insurance carrier is compelled to send you 12 notices for monthly payments instead of one for annual payments. This increases their overhead.

Furthermore, each check they get attracts a transaction fees as well. They pay transaction fees twelve times instead of once anually for monthly premiums. And, if you really come to think of it, these extra overheads are ultimately added to your rates.

So, you will attract cheaper premiums if you decide to pay your premiums anually. What you'll save could be as much as 8.5% of your total monthly payments over the course of just a year.

4. You will save a lot if you only have between 25-30 minutes. Visit, get and compare homeowners insurance quotes from selected quotes sites. The cheapest quote should be what you pick easily. Nevertheless, you have to go beyond simply the cheapest price to the best price/value. The cheapest may not be the best price/value for you as an individual.

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