Homeowner Insurance -- 7 Tested Tips

Contrary to what you might have thought, it is a lot easy to position yourself for a cheaper rate. The only things that stand between you and attracting a cheaper rate now are relevant information and a motivation to make use of the information you get -- Nothing more. Here is a list of tips that will help you get to this goal...

1. Do not insure your home along with the land it is built on as this is more expensive but quite unnecessary. Folks do this ignorantly. You have made the same mistake if you insured your house for the price you bought it without checking the cost of the land it's standing on and deducting it.

If you made such a mistake, you need to review your home insurance coverage and go through it again with your agent. Deduct the cost of your land and buy coverage only for your house and its contents.

This implies that you'll spend a lot less on home insurance. Always remember that insuring the land your house is built on is real waste of money since it does NOT give you any added advantage.

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2. You will spend more or less depending on your credit history. You will attract higher home insurance rates 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 is happy with this as it shows a pattern you are very likely to repeat in the payment of premiums. This makes you less attractive to them and you, therefore, are made to spend much more than some other person with similar profile that has a very good rating.

It will, therefore, be a good step to do something about improving your credit rating. Apart from the other benefits in doing so, it will ensure you get lower home insurance premiums.

3. Making your premium payments once every year will save you much when compared to monthly payments. A strong reason for this is the cost an insurer incurs by posting you twelve bills instead of just one annually.

Furthermore, each check they get attracts its own transaction fees as well. They pay transaction fees 12 times instead of once annually for monthly premiums. And, if you really come to think of it, these additional costs are eventually built into your rates.

Therefore choose annual payments instead if you want to make savings through this means. The real amount you could save may differ but expect to save up to a month's premium worth with most insurers if you choose this option.

4. A fire-safe home exterior will help bring down your rates. Having things that are quite inflammable or that aid combustion close to your dwelling will make you pay higher rates. Bushes near your home should be cut and maintained at not less than ten feet from your structure. The risk of fire in a home is a very strong factor that determines your home insurance premium.

5. Motion-sensitive lighting reduces your home's risk of burglary and, therefore, helps you get lower home insurance premiums. Thieves understandably don't like to operate in any place they could be easily seen or caught. Since thieves avoid homes with such lighting, you reduce your home's risk of burglary and, by extension, your rates.

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6. Getting dead-bolt locks on every exterior door will bring down your home insurance rate. This makes it difficult for intruders or burglars to break in. The more protected 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'll be paying more because of that. You will save even much more if you go one step more to get burglary-proof bars fitted on all of them. If you are NOT against this quickly fix them in your home and enjoy more affordable rates.
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