Homeowner Insurance -- Seven Tested Tips

It is truly very easy for you to find the right coverage for a lot less. The only things that stand between you and getting a cheaper rate now are relevant information and a determination to use the information you get -- That's all. Let's look at several time-tested ways to get this done...

1. Do not insure your home along with the land it is built on as this is more expensive but quite unnecessary. Some folks pay much more than they should on home insurance due to this mistake. Insuring your home for the full price you bought it without subtracting the land's worth is a big mistake.

For folks who've mistakenly done this, call your agent and check your home insurance coverage again. Subtract the land's price and you'll realize that you'll need far less coverage.

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

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2. You'll spend more or less depending on your credit rating. Those who have very good ratings spend far less than people who have low ratings. What your credit rating shows is how you treat your bills and it speaks negatively about you if it's a poor one. No insurer likes this as it suggests a pattern you are quite likely to repeat in the payment of rates. If you're seen as a likely defaulter, it makes you a higher risk and attracts more expensive rates than otherwise.

So do all within your power to pay all your bills in a timely manner. It makes it easier for you to get lower rates among other things.

3. Choosing to pay your rates on a monthly basis leads to more expensive rates than you'd spend if you choose to pay yearly. Your insurance carrier is compelled to send you 12 notices for monthly payments as against one for yearly payments. This increases their overhead.

The cost increases if you include the fact that they pay transaction charges for processing each check you give them monthly as payment. 12 checks are 12 transactions which incur 12 separate transaction charges. And as with every other thing, it is you the client or policy holder who bears that cost.

Therefore, you'll get cheaper premiums if you choose to pay your rates yearly. The actual amount you could save may differ but expect to save up to a month's premium worth with most insurance companies if you settle for this option.

4. A fire-safe home exterior will help reduce your rates. You'll do well if you don't have anything that is inflammable close to your home. Bushes around your house should be cut and maintained at a distance of at least 10 feet from your structure. Fire-safety is a strong point that is used to calculate what you pay as premiums.

5. You will as well get a discount if you have motion-sensitive lighting in your home. Thieves understandably do NOT like to operate in any environment they could be easily seen or caught. The risk of burglary is a strong factor in determining a home's risk to an insurance company and, by extension, your rate.

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6. Make sure each door to the exterior has dead-bolt locks. It's harder for burglars to operate in homes that have these locks. And as you know, the lower the risk of burglary in a house, the more affordable premiums it will get.

7. Do you have locks on all your windows? If you don't you'll be spending more because of that. You'll save even much more if you go further to get burglary-proof bars fixed on every window. Although most folks do not like this because it makes them feel imprisoned in their own house, it really does reduce your rate considerably. If you're not one of those folks who say that having such makes them feel imprisoned in their own house, have them fitted if you intend to reduce your home insurance rates by a huge margin.
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