Homeowners Insurance -- Four Tested Tips For Cheaper Rates

You can get high quality homeowners' insurance coverage without breaking the bank. All you need to achieve this end are pieces of information (that you'd have to implement, though). Here are several tips that will help you achieve this goal...

1. It's more expensive and needless to insure the land on which your house is standing. Folks do this without knowing. They just insure their home for its full value without subtracting the land's cost.

For folks who've ignorantly done this, meet with your agent and check your home insurance coverage again. Subtract the cost of your land and use only the cost of your structures and its contents.

This implies that you will pay a lot less on home insurance. Don't ever forget that insuring the land your house is built on is plain waste of money since it does give you any added advantage.

2. The amount you pay is affected by your credit history. You'll pay higher home owner insurance rates if you have a poor credit rating. What your credit rating reveals is how you have handled your bills and it speaks badly about you if it is a poor one. An insurer takes this to mean that you're not financially very responsible and will likely default in paying your rates. If you're considered a likely defaulter, it makes you a higher risk and attracts more expensive rates than otherwise.

Therefore, it will do you much good to pay all your bills promptly. You'll draw lower premiums if you do.

3. Choosing to pay your rates on a monthly basis results in more expensive premiums than you'd spend if you decide to pay annually. This is because posting twelve bills by mail monthly costs your insurer much.

As if that was NOT enough expense, each check they get attracts a transaction charge too. Twelve checks mean 12 transactions and will draw Twelve separate fees.. And as with every other thing, it's you the customer or policy holder who will be responsible for that cost.

Therefore, you will get cheaper premiums if you opt to pay your premiums yearly. What you'll save could be as much as 8.5% of your total monthly payments over the course of just one year.

4. You can get better rates on home owners insurance now by visiting a minimum of five quotes sites. Each site will require about 5 minutes or less to request quotes. (Some folks give details that are not really correct about themselves. That isn't smart since the quotes you'll get this way won't do you any good). You'll have to pick the best home owner insurance quote for you from the list of quotes you've obtained. It's as simple as that. But you could easily save hundreds of dollars.

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