Cheapest Homeowners' Insurance -- Ways To Pay Less

If you must get huge discounts on your home owners insurance policy, then you must NOT miss certain things. Following are some of such things...

1. A group policy gets you more affordable rates. You can confirm from associations you belong to since they might have obtained group discounts.

But before you buy check if you can get a lower homeowners' insurance premium with another carrier than that given by your association. For a good number of reasons you might be better off NOT buying from a particular group's insurer. Shopping extensively will enable you get the best rates.

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2. You can enjoy lower premiums if you are retired. Since not every carrier offers this discount, find out from your agent before you sign your policy.

The rationale behind this discount is that those who are almost always at home are less likely to be burglarized. In addition, Fires will be easily noticed and put off if somebody is always around.

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

Believe it or not, you can almost always get an insurance carrier that offers a far cheaper rate than what you are presently paying. The secret is doing thorough shopping. Get quotes from any highly rated home insurer you know you've never got one from and also always get and compare home owner insurance quotes from up to five quotes sites about twice every year.

4. It is more expensive and very unnecessary to insure the land on which your home is built. Folks do this ignorantly. Insuring your home for the full price you bought it without subtracting the value of the land it stands on is an expensive error.

If you made this mistake quickly call your agent and check through your coverage. Reduce your coverage to the cost of your house and its contents minus the land's cost.

This implies that you will pay far less on home insurance. Do not ever forget that insuring the land your home is standing on is real waste of money because it does you no good whatsoever.

5. You'll pay more affordable rates if you elect to pay your premiums anually and not every month. A strong reason for this is the cost an insurance company incurs for posting you twelve bills instead of just one yearlly.

The cost increases if you include the fact that they pay transaction charges for processing each check you send them monthly. 12 checks are 12 transactions which attract 12 separate transaction charges. These and other charges so incurred by your insurance company are ultimately borne by you, the policy holder..

Therefore opt for annual payments instead if you intend to make savings this way. You could save up to a month's premium within a year.

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6. Your credit history has a big impact on what you pay. Those who have very good ratings spend far less than folks who have poor ratings. If your credit rating is poor then you've NOT been faithful in paying up your bills. 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 therefore justifies a higher rate.

Therefore, it will do you much good to clear all your bills once they are due. You'll attract lower premiums if you do.

7. You can realize savings of hundreds of dollars on your home owner insurance policy by requesting for insurance quotes from quote sites. The best method is to visit at least five quotes sites and making sure that you give the same (correct) information about yourself. I advise that you use a minimum of five quotes sites as it will ensure you do not miss out better quotes not carried by the other sites. This gives you a broader basis for doing more extensive comparisons thus increasing your chances of getting more for less.
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