Homeowner Insurance -- Seven Tested Tips

Contrary to what you might be made to believe, it is quite easy to get a lower rate. The only things that are holding you from enjoying a better rate now are the right information and a motivation to make use of the recommendations you get -- Period. Let us now look at a number of sure-fire ways to get this done...

1. Don't insure your house along with the land it is standing on as this is more expensive but very unnecessary. Some folks pay much more than they should on home insurance because they made this mistake. You have made the same mistake if you insured your house for the price you purchased it without checking the cost of the land it is built on and deducting it.

If you did this quickly meet with your agent and review your coverage. Deduct the land's cost and you'll realize that you will need far less coverage.

This implies that you'll pay a lot less on home insurance. Since 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. Your credit rating has a huge impact on what you pay. You'll attract higher home insurance premiums if you have a low credit rating. A bad credit rating suggests that you've not been paying your bills in a timely fashion. An insurance company takes this to mean that you are not financially very responsible and will likely default in paying your rates. This makes you a bigger risk and so justifies a higher rate.

Therefore, it will do you much good to pay all your bills promptly. Apart from the other benefits in doing so, it will help you get lower home insurance premiums.

3. You'll get lower rates if you elect to pay your rates annually and not monthly. An insurance carrier is compelled to send you 12 notices for monthly payments as against one for yearly payments. This costs them more.

The cost shoots up if you include the fact that they pay transaction charges for processing each check you send them monthly. They pay transaction charges 12 times instead of once yearly for monthly premiums. And as with everything else, it is you the end user or insured who will be responsible for that cost.

You will make considerable savings if you choose to pay annually. You could save up to a month's premium in just a single year.

4. Make the exterior of your home fire-safe and you will reduce your home insurance rate. Do you have things that could likely aid combustion close to your structure? They will make you get higher rates. As simple as it looks, cutting back bushes and maintaining them up to ten feet from your structures will help reduce your premium. Fire-safety is a major factor that determines what you pay as premiums.

5. You'll get cheaper rates if you've got motion-sensitive lighting for your home's exterior. Burglars understandably don't like to operate in any environment they could be easily seen or caught. Your rate will be reduced once you've lowered your home's risk of burglary with this type of lighting.

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6. Having dead-bolt locks on all exterior door will bring down your home insurance premium. It's more difficult for thieves to operate in homes that have these locks. And because a home's risk of burglary is a major determinant of home insurance rates, you will pay far less.

7. Window locks on all windows will help you save because they reduce your home's risk of burglary. Expect to get far cheaper rates if you've windows that have burglary-proof bars Therefore, if you are not bothered by having burglary-proof bars in your home, have them fixed and you'll pay a lot less in your home insurance premium.
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