Cheapest Homeowner Insurance -- Reduce Your Rates Without Compromising Your Coverage

If you must attract huge discounts on your homeowners' insurance policy, then you must NOT forget certain things. Following are a few of such things...

1. A group policy will cost you less. Some associations have also arranged discounts for their members with home insurance carriers so find out if yours has such.

I will, nevertheless, advise that you still get and compare quotes from other insurers that your association may have no affiliations with. For several reasons you may be better off NOT buying from a particular association's insurer. Therefore, it actually does pay to do extensive comparison shopping if you want the most affordable premiums.

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2. If you are retired, you can pay lower premiums with a retiree discount. Since not every company gives this discount, find out from your agent before you sign your policy.

Insurers who give this discount know that burglars rarely go to homes where they know somebody is usually around. Furthermore, Fires can be easily noticed and put off if somebody is always at home.

3. You should get a good discount if you have remained with an insurer for three years and above. Nevertheless, I don't expect that you stick with one insurer for that long simply because you are waiting to qualify for a loyalty discount.

Believe it or not, you can almost always get an insurance provider that offers a far lower rate than what you're currently paying. That's, if you understand how to shop right. I recommend that you obtain quotes from insurers you have never got quotes from time to time.

4. Make sure you don't make the mistake of not subtracting the land's value from your home's cost while applying for an home owner insurance policy. A good number of folks spend much more than they should on home owner insurance on account of this mistake. You have made same mistake if you insured your home for the price you bought it without checking the cost of the land it is built on and subtracting it.

For those who've ignorantly done this, meet with your agent and check your home owner insurance coverage again. Deduct the land's value and you'll find out that you will need far less coverage.

With such a review you will reduce your premiums considerably and still leave with enough home insurance coverage. Always remember that insuring the land your home is built on is plain waste of money since it does give you any added advantage.

5. Making your premium payments once every year will save you a lot when compared to monthly payments. This is because sending you 12 bills by mail monthly costs your insurance company much.

Furthermore, each check you send attracts its own transaction fees as well. twelve checks are 12 transactions which attract 12 separate transaction charges. These and other costs so incurred by your insurance company are ultimately paid by you, the policy holder..

You will get reasonable savings if you start paying annually. You could save up to a month's premium within a year.

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6. What you pay as premium is partly determined by your credit history. Those who have excellent ratings pay far less than those who have low ratings. What your credit rating shows is how you treat your bills and it speaks badly about you if it is a poor one. This is a pattern that most insurance carriers believe will play out again in the way you handle your premiums. If you are considered a likely defaulter, it makes you a higher risk and draws much higher rates than otherwise.

So do all within your power to pay all your bills in a timely manner. It makes it easier for you to get more affordable rates among other things.

7. You can reduce your home owners insurance premium by obtaining and comparing quotes from at least five reputable insurance quotes sites.

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