Cheapest Homeowners Insurance -- Getting Superior Coverage For Less

If you must enjoy huge discounts on your home owner insurance policy, then you must NOT forget certain things. I'll show you some of them here...

1. A group home insurance policy gets you more affordable rates. You can check with associations you are part of because they might have obtained group discounts for homeowner insurance.

But before you purchase see if you can get a cheaper home owner insurance premium with another insurer than that given by your association. You can find an insurance company that your association has no form of affiliations with that offers your profile a far more affordable premium. So it actually does pay to do extensive comparison shopping if you intend to have the best rates.

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2. You can enjoy lower rates if you're retired. Since not every carrier offers this discount, ask your agent before you sign your policy.

The basis for this discount is the fact that someone being almost always at home makes a home a better risk. Furthermore, Fires can be quickly noticed and put off if someone is always around.

3. You're eligible for a loyalty discount if you've stayed with an insurer for up to 3 years. But in spite of the fact that you'll qualify for a loyalty discount if you stay put with the same insurance provider for 3 years and more, do NOT stay put just because of that.

Believe it or not, you can almost always get an insurer that offers a far cheaper premium than what you're presently paying. That's, if you know how to shop right. Make a list of insurance carriers that you've never got quotes from and get and compare quotes from them.

4. Do not insure your home 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. They just insure their house for its entire value without subtracting the cost of the land.

If you did such ignorantly, you'll have to review your home owner insurance coverage and check it again with your agent. Subtract the value of your land and buy coverage only for your structures and its contents.

Doing this will reduce your rates considerably and still leave with enough home insurance coverage. Because insurance is for things that can't afford to lose, insuring the land which can neither get lost or damaged isn't a smart move.

5. Electing to pay your rates on a monthly basis results in higher rates than you'd pay if you choose to pay annually. This is because posting twelve bills by mail each month costs your insurance company a lot.

If you add to the fact that each check you cut is seen as a transaction by their bankers, you will see that they still pay some more on transaction fees for each check you pay in. They pay transaction fees 12 times instead of once yearly for monthly payments. And, if you really come to think of it, these extra overheads are ultimately built into your rates.

Therefore opt for annual payments instead if you want to save through this means. The actual amount you could save may differ but expect to save up to a month's premium worth with some insurers if you choose this option.

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6. Your credit history has a serious impact on what you pay. People who have excellent ratings pay far less than those who have low ratings. If your credit rating is bad then you've been missing important payments. An insurance company takes this to mean that you are financially irresponsible and will possibly default in paying your rates. If you are considered a likely defaulter, it makes you a bigger risk and attracts much higher premiums than otherwise.

It will, therefore, be a smart step to do something about improving your credit rating. Apart from the other benefits in doing so, it will help you get cheaper homeowners' insurance rates.

7. Take out some time to visit at least five insurance quotes sites that provide quotes on homeowners' insurance policies. It should take you not more than 25 minutes. While you visit each site, make sure you input the same details. Doing otherwise will give you misleading quotes. When you've received your homeowners insurance quotes, compare them to determine which serves your interest best in price/value.

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