Homeowner Insurance -- Seven Tested Tips

Contrary to what you might have thought, it's quite easy to attract a cheaper rate. You only need the right tips and the motivation to practice what you'll be taught to get a better rate. Here are a number of tips that will help you get to this goal...

1. It is more expensive but needless to insure the land on which your home is built. People who ignorantly do this pay for more insurance than would be of any benefit. They just insure their home for its entire value without subtracting the land's cost.

If you made such a mistake, you need to review your home insurance coverage and check it again with your agent. Subtract the value of your land and buy coverage only for your home and its contents.

Doing this will reduce your premiums by a huge margin and still leave with sufficient home insurance coverage. Bear it in mind that insuring the land your home is standing on is plain waste of money because it does you no good whatsoever.

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2. What you pay as premium is partly determined by your credit rating. The lower your credit rating, the higher the rates you get. What your credit rating reveals is how you have handled your bills and it speaks badly about you if it's a poor one. An insurer interprets this to mean that you're not financially very responsible and will possibly default in paying your premiums. If you are seen as a likely defaulter, it makes you a higher risk and attracts much higher premiums than otherwise.

So do your best possible to pay all your bills in a promptly. Apart from the other benefits in doing so, it will ensure you get lower home insurance premiums.

3. You will get lower rates if you choose to pay your rates annually and not every month. This is because posting 12 bills by mail each month costs your insurance company a lot.

If you add to the fact that each check you make out is considered a transaction by their bankers, you'll see that they still spend extra on transaction charges for each check you pay in. 12 checks are 12 transactions which mean 12 separate transaction charges. And, believe it or not, these additional costs are eventually added to your rates.

You will get considerable savings if you begin to pay annually. You could save up to a month's premium in just a single year.

4. Make sure that the exterior of your house is fire-safe and your premium will be cheaper. Having things that are quite inflammable or that help combustion around your dwelling will make you pay higher rates. Even though cutting bushes around your home looks mundane, you'll get cheaper rates if you do maintain them at a distance of at least ten feet from your building. This is because how fire-safe a house is goes a long way in determining what it will cost to insure that home.

5. You will as well get a discount if you have motion-sensitive lighting in your home. Thieves generally do NOT like to operate in any environment they could be easily noticed or caught. Since thieves keep off from homes with such lighting, you lower your home's risk of burglary and, by extension, your premiums.

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6. Make sure every door to the exterior has dead-bolt locks. They will make it harder for burglars to break into your home. And as you know, the lower the risk of burglary in a house, the cheaper rates it will get.

7. Window locks on every window will save you a little because they reduce your home's risk of burglary. You can take this to another level by building in burglary-proof bars on all your windows. If you're not one of those people who feel so uncomfortable with such, they'll help you get considerable discounts. Therefore, if you are not bothered by having burglary-proof bars in your house, have them built in and you will be charged a lot less in your home insurance premium.
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