Home Owners Insurance -- 7 Proven Tips

You can get high value coverage without paying top price. All you have to do to achieve this end are little bits of information (Put into practice). Let us now look at a few time-tested ways to get more for a lot less...

1. Ensure you do NOT fail to deduct the land's value from your home's cost while applying for a home insurance policy. People do this ignorantly. They just insure their house for its complete value without subtracting the land's cost.

For those who've ignorantly done this, meet with your agent and check your home insurance coverage again. Lower your coverage to the cost of your home and its contents minus the land's value.

Your rate will be cheaper and you'll still have sufficient coverage if you do this right. Always remember that insuring the land your home is built on is real waste of money since it does you no good whatsoever.

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2. Your credit rating has a serious impact on what you pay. The lower your credit rating, the higher the rates you attract. If your credit rating is poor then you've been missing important payments. No insurer is happy with this as it shows a behavior you're very likely to repeat in the payment of rates. If you are seen as a potential defaulter, it makes you a bigger risk and draws more expensive rates than otherwise.

Therefore, it will do you much good to clear all your bills once they are due. Apart from the other benefits in doing so, it will ensure you get cheaper home insurance rates.

3. You will get cheaper rates if you choose to pay your rates yearly and not every month. An insurance carrier is compelled to send you 12 notices for monthly payments as opposed to one for annual payments. This increases their overhead.

If you include the fact that each check you send is seen as a transaction by their bankers, you will see that they still spend some more on transaction fees for each check you pay in. They pay transaction charges twelve times instead of once yearly for monthly payments. And, believe it or not, these additional costs are ultimately built into your rates.

You will make reasonable savings if you choose to pay yearly. The real amount you could save might differ but expect to save up to a month's premium worth with some insurance companies if you choose this option.

4. A fire-safe home exterior will help lower your rates. You'll be doing the right thing if you ensure there's nothing that's inflammable around your building. Bushes around your house should be cut and maintained at not less than ten feet from your building. Fire-safety is a major point that determines what you pay in premiums.

5. You'll also enjoy a discount if you have motion-sensitive lighting in your home. Burglars will keep off from places where their activities will be easily observed. And motion-sensitive lighting does this precisely. Your rate will be lower once you've reduced your home's risk of burglary with this type of lighting.

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6. Dead-bolt locks on all doors to the exterior will help you attract a cheaper rate. It's more difficult for burglars to operate in homes that have these locks. The more fortified your home is against burglary, the better the risk taken in insuring it.

7. Having window locks on all your windows will help lower your home's risk of burglary. You can take this to another level by building in burglary-proof bars on them all. If you're not one of those people who feel so uncomfortable with these kind of fittings, they'll get you reasonable discounts. If you're not one of those people who say that having such makes them feel imprisoned in their own house, have them fitted if you want to lower your home insurance rates by a huge margin.
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