Homeowner Insurance -- 7 Proven Tips

Contrary to what you might be made to believe, it is a lot easy to get a lower rate. All you have to do to achieve this end are little bits of information (Put into practice). Let us get into the tips you need to enjoy cheaper rates...

1. Do not insure your home along with the land it is standing on as this will cost you more but very needless. Folks do this ignorantly. You have made the same mistake if you insured your home 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 re-evaluate your home insurance policy. Deduct the value of your land and use only the cost of your house and its contents.

With such a review you will lower your premiums by a huge margin and still have sufficient home insurance coverage. Because insurance is for valuables that you can't afford to lose, insuring the land which can neither be lost or damaged isn't a smart move.

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2. What you pay as premium is partly determined by your credit rating. The poorer your credit rating, the higher the rates you get. What your credit rating reveals is how you treat your bills and it speaks negatively about you if it's a poor one. No insurer is happy with this as it shows a behavior you are very likely to repeat in the payment of rates. If you're considered a potential defaulter, it makes you a bigger risk and draws more expensive rates than otherwise.

So do your utmost to attend to all your bills in a timely manner. You will attract lower rates if you do.

3. Yearly premium payments will save you much when compared to monthly payments. This is because sending you 12 bills by mail monthly costs your insurer a lot.

The cost shoots up if you add the fact that they pay transaction fees for processing each check you send them monthly. Twelve checks mean Twelve transactions and will attract 12 separate fees.. And, believe it or not, these additional overheads are ultimately built into your rates.

Therefore, you will attract lower rates if you decide to pay your premiums yearly. What you'll save could be as high as 8.5% of your total monthly payments over the course of just one year.

4. Make the exterior of your house fire-safe and you'll bring down your home insurance rate. You'll do well if you ensure there's nothing that's inflammable close to your home. Bushes near your house should be cut and maintained at not less than ten feet from your structure. This is because how fire-safe a home is goes a long way in determining what it will cost to insure that home.

5. Motion-sensitive lighting reduces your home's risk of burglary and, as a result, helps you get cheaper home insurance premiums. Your house becomes a no-go area for thieves because they'll be noticed easily. Because thieves keep off from homes with such lighting, you reduce your home's risk of burglary and, consequently, your premiums.

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

7. Having window locks on all your windows will help reduce your home's risk of burglary. You will save even much more if you go further to have burglary-proof bars fixed on every window. If you're not one of those folks who feel so uncomfortable with these kind of fittings, they'll get you considerable discounts. So, if you are okay with having burglary-proof bars in your home, have them built in and you'll be charged a lot less in your home insurance rate.
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