Affordable Homeowners Insurance -- Bring Down Your Rates Without Risk

If you must enjoy huge discounts on your homeowners' insurance policy, then you must NOT miss certain things. I'll share some of them in this article...

1. You'll pay cheaper premiums if you obtain group homeowner's insurance. It is as well good to check with associations you belong to if they have any group discount from any insurer.

But before you purchase check if you can obtain a lower homeowners' insurance rate with another company than that offered your association. For a good number of reasons you might be better off NOT buying from a particular association's insurer. Doing extensive shopping will enable you get the cheapest rates.

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2. You are eligible for lower rates if you are retired. But bear in mind, though, that not all insurance carriers offer this discount.

Insurers who give this discount know that burglars hardly ever go to houses where they know someone is always around. In addition, Fires will be easily spotted and put off if somebody is always around.

3. Have you stayed with your home insurer for up to 3 years? Then make a demand for a loyalty discount. But notwithstanding the fact that you'll qualify for a loyalty discount if you stay put with the same insurance carrier for three years and more, don't make this decision just because of that.

I can almost stick my neck out that you can get rates that are a lot less than what you're paying at the moment. That's, if you know how to shop correctly. Make a list of companies that you've never got quotes from and get and compare quotes from them.

4. Make sure you don't forget to subtract the land's value from your home's value while applying for an homeowners insurance policy. Those who ignorantly do this are paying a lot more than would do them any good. You've made same mistake if you insured your house for the price you bought it without finding out the cost of the land it is standing on and subtracting it.

For those who've ignorantly done this, meet with your agent and go through your homeowners insurance coverage again. Lower your coverage to the cost of your house and its contents minus the worth of the land.

Your premium will be less and you'll still have adequate coverage if you do this right. Since insurance is for valuables that can't afford to lose, insuring the land which can neither be lost or damaged isn't a smart move.

5. You'll pay cheaper rates if you choose to pay your rates anually and not monthly. An insurer is compelled to send you 12 notices for monthly payments as opposed to one for annual payments. This costs them more.

As if that was NOT enough expense, each check they get attracts its own transaction charge as well. They pay transaction fees 12 times instead of once a year for monthly premiums. And, if you really come to think of it, these additional overheads are eventually added to your rates.

As a result, you will attract lower rates if you choose to pay your rates yearly. You could save up to a month's premium in just a single year.

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6. Your credit rating has a huge impact on your rate. You will pay higher homeowner 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. This is a behavior that most insurance carriers believe will play out again in the way you pay up your premiums. This makes you a higher risk to them and you, therefore, are made to spend much more than some other person with the same profile that has a very good rating.

Therefore, it will do you much good to pay all your bills once they are due. It will help you attract lower rates among other things.

7. You can bring down your homeowners insurance costs by obtaining and comparing quotes from at least five reputable quotes sites.

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