Home Owner Insurance -- Four Smart Ways To Pay Less

Contrary to what you might be made to believe, it is quite easy to get a lower homeowners insurance rate. All you have to do to achieve this end are pieces of information (that you'd have to put to use, though). Let us now look at a few proven ways to get this done...

1. It is more expensive and very unnecessary to insure the land on which your house is standing. Some folks spend much more than they should on home owner insurance because they make this mistake. You have made same mistake if you insured your home for the cost you purchased it without checking the cost of the land it's standing on and deducting it.

For folks who've ignorantly done this, call your agent and go through your home insurance coverage again. Deduct the land's value and buy coverage only for your structures and its contents.

Doing this will lower your premiums by a huge margin and still have sufficient home insurance coverage. Since insurance is for valuables that can't afford to lose, insuring the land which can neither get lost or damaged isn't right.

2. Your credit rating will make you pay more or less. You will attract higher home insurance rates if you have a poor 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 shows a pattern you're quite likely to repeat in the payment of premiums. If you're considered a likely defaulter, it makes you a higher risk and draws more expensive rates than otherwise.

Therefore, it will do you much good to clear all your bills promptly. It makes it easier for you to attract lower rates among other things.

3. Making your premium payments once every year will save you much when compared to monthly payments. An insurer sends 12 notices for monthly payments as against one for annual payments. This costs them more.

Furthermore, each check they get attracts its own transaction fees too. They pay transaction fees 12 times instead of once a year for monthly payments. These and other charges so incurred by your insurer are ultimately paid by you, the policy holder..

So, you will attract cheaper premiums if you decide to pay your rates anually. The actual amount you could save might differ but you may be able to save up to a month's premium worth with most insurance companies if you choose this option.

4. You can save a lot of money in home owners insurance if you get and compare home insurance quotes from quotes sites. You'll realize savings if you go to only one quotes site. But keep this in mind, you will get better results by using at least five. The plain logic in this is that you will obtain a greater number of home insurance quotes from a wider range of insurance companies. This increases your chances of getting better quotes.

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