Homeowner Insurance -- 4 Smart Ways To Pay Less

Everyone can get high value home owner insurance coverage without breaking the bank. The only things that keep you from attracting a better rate at the moment are relevant information and a resolve to make use of the information you get -- That's all. Here are a few steps that will help you get to this goal...

1. Don't insure your house along with the land it is standing on as this will cost you more but is needless. Those who ignorantly do this are paying a lot more than would be of any benefit. Insuring your home for the full price you bought it without subtracting the the land's cost is a big mistake.

For folks who have ignorantly done this, call your agent and go through your home owner insurance coverage again. Deduct the cost of your land and use only the cost of your house and its contents.

This implies that you will spend a lot less on home insurance. Since insurance is for valuables that can be lost or damaged, insuring the land which can neither get lost or damaged isn't a smart move.

2. You'll pay more or less depending on your credit history. People who have excellent ratings spend far less than those who have low ratings. A bad credit rating means that you've not been paying your bills promptly. An insurance company takes this to mean that you are financially irresponsible and will possibly default in paying your premiums. This marks you out as a bigger risk and so justifies a higher rate.

It'll, therefore, be a good step to do something about improving your credit rating. It makes it easier for you to get lower rates among other things.

3. You will pay more affordable rates if you choose to pay your rates yearly and not monthly. Your insurer is compelled to send you 12 notices for monthly payments instead of one for annual payments. This increases their overhead.

The cost shoots up if you include the fact that they pay transaction fees for processing each check you send them monthly. 12 checks mean Twelve transactions and will attract 12 separate charges.. And, believe it or not, these additional overheads are eventually built into your rates.

You will make reasonable savings if you start paying annually. What you'll save could be as high as 8.5% of your total monthly premiumss over the course of just one year.

4. You could save some hundreds of dollars by simply receiving and comparing quotes from about five insurance quotes sites. And, it will require only a total of 25 minutes.

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