Homeowner Insurance -- 4 Smart Ways To Pay Less

Contrary to what you might have thought, it's quite easy to get an affordable homeowners insurance rate. The only things that keep you from attracting a cheaper rate now are relevant information and a resolve to use the recommendations you get. Let us now look at a few proven ways to get better rates...

1. Don't insure your home along with the land it is standing on as this will cost you more but is very unnecessary. Some people pay much more than they should on home insurance because they make this mistake. They just insure their home for its complete value without subtracting the land's cost.

If you did such ignorantly, you need to re-evaluate your home owner insurance coverage and check it again with your agent. Subtract the land's value and buy coverage only for your home and its contents.

This implies that you'll pay far less on home insurance. Don't ever forget that insuring the land your home is built on is plain waste of money because it does give you any added advantage.

2. Your rate is affected by your credit history. You will attract higher home owners insurance premiums if you have a low credit rating. If your credit rating is poor then you've NOT been faithful in paying up your bills. No insurer likes this as it suggests a pattern you're very likely to repeat in the payment of rates. This makes you a higher risk to them and yourself, therefore, are made to spend much more than someone else with the same profile that has a very good rating.

So do your best possible to attend to all your bills in a promptly. Apart from the other benefits in doing so, it'll help you get cheaper home owners insurance rates.

3. Yearly premium payments will save you much when compared to monthly payments. Your insurer is compelled to send you 12 notices for monthly payments as against one for yearly payments. This increases their overhead.

If you add to the fact that each check you make out is seen as a transaction by their bankers, you'll see that they still spend some more on transaction charges for each check you pay in. 12 checks mean 12 transactions which attract 12 different transaction charges. These and other costs so incurred by your insurance company are ultimately borne by you, the insured..

You will get reasonable savings if you start paying annually. What you will save could be as high as 8.5% of your total monthly premiumss over the course of just a year.

4. You will save a lot of dollars by visiting a minimum of five homeowners' insurance quotes sites. That way, you will get the lowest quotes possible since five sites will give up to 25 quotes altogether.

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