Home Insurance -- 7 Tested Tips

Contrary to what you might be made to believe, it's a lot easy to get a cheaper rate. All you have to do to achieve this feat are little bits of information (that you'd have to put to use, though). Let us now look at a few time-tested ways to get better rates...

1. Ensure you don't fail to deduct the land's value from the home's value as you apply for a home insurance policy. A good number of folks spend much more than they should on home insurance because they made this mistake. They just insure their house for its entire value without deducting the cost of the land.

For folks who have mistakenly done this, call your agent and go through your home insurance coverage again. Reduce your coverage to the cost of your house and its contents minus the land's cost.

Doing this will reduce your premiums by a huge margin and still have adequate home insurance coverage. No matter what you do and who you meet, 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. The amount you pay is affected by your credit history. You will attract higher home insurance premiums if you have a poor credit rating. 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 financially irresponsible and will possibly default in paying your rates. This makes you less attractive to them and you, therefore, are made to spend higher than someone else with the same profile that has a very good rating.

So do your utmost to clear all your bills in a promptly. Apart from the other benefits in doing so, it will help you get cheaper home insurance premiums.

3. Electing to pay your rates monthly leads to higher rates than you'd pay if you choose to pay annually. Your insurance carrier is compelled to send you 12 notices for monthly payments as against one for yearly payments. This costs them more.

If you include the fact that each check you cut is considered a transaction by their bankers, you'll see that they still spend some more on transaction charges for each check you pay in. They pay transaction charges 12 times instead of once yearly for monthly premiums. And, believe it or not, these extra overheads are ultimately added to your rates.

As a result, you'll attract cheaper premiums if you decide to pay your rates yearly. The real 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 house is fire-safe and your premium will be lower. Do you have things that could likely aid combustion near your house? They will make you pay more. As easy as it looks, cutting back bushes and keeping them up to 10 feet from your building will help lower your premium. The likelihood of fire in a house is one very strong factor that influences your home insurance premium.

5. Motion-sensitive lighting reduces your home's risk of burglary and, as a result, makes it easier for you to get cheaper home insurance premiums. Your home becomes less attractive to thieves since they'll be noticed easily. Your rate will be reduced you have reduced your home's risk of burglary with this kind of lighting.

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6. Having dead-bolt locks on all exterior door will lower your home insurance premium. It's more difficult for thieves to operate in homes that have these locks. The more secured your home is against burglary, the lower the risk involved in insuring it.

7. Do you have locks on each of your windows? If you don't you will be spending more because of that. Expect to get far cheaper rates if you've windows that have burglary-proof bars Although most people do not like this because it makes them feel imprisoned in their own house, it really does lower your rate considerably. If you have nothing against this quickly fix them in your home and enjoy cheaper rates.
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