There are many ways you can lower your homeowners insurance rate.
Here are nine time-tested ways to do it...
1.
If you've renovated your house recently, you qualify for discounts.
The reason for this is that in the same way the systems and features of a new home are in excellent condition, a renovated house as well has its system, features and structures restored to top condition.
The more massive your renovation is, the more the discounts you should get.
Just ask your agent.
2.
When buying coverage for your home, make sure you give only the value of the home itself and its content without including the land's cost.
Home insurance is to protect what could be lost or stolen.
No peril can destroy the land on which the house is built.
Don't forget to use the price of your home minus the land when applying.
This is because doing the contrary means you're buying much more than is needed.
This translates to higher avoidable premiums.
3.
You'll attract more affordable quotes if your home is well secured.
Certain security systems will attract discounts of close to five percent.
With certain companies discounts of up 20 percent are available with the installation of certain really advanced security systems.
However, the devices have to be recommended by the company for you to get such discounts.
The big discount you get may not be worth it because these special devices cost much.
4.
Smokers get higher premiums.
Ask everyone who lives in your home to quit smoking.
Statistics indicate that about 23,000 residential fires result from smoking.
Despite all, not all insurance companies may offer discounts for this.
5.
You may qualify for discounts of about 10 percent with a number of insurers if you're retired.
You can expect retired folks to detect fires easily and maintain their homes better because they're always around.
6.
Your association might arrange discounts with an insurance company that you could benefit from.
Find out from any association or group you belong to.
You might already have discounts that have been arranged for you.
However, certain insurers who do not offer any form of discount to your group might still end up being much cheaper for you.
This is one of the main reasons I ask people to make out time to get multiple quotes.
Every insurance expert knows that this is the only way you can know whose the best offer is.
7.
You can get discounts if you remain with an insurer for over three years.
The concessions offered generally increases with the length of time you remain a policyholder.
The rebates you get for remaining with an insurance company may be far less than what you'll save if you move over to another company.
Knowing which offers more savings is really easy.
If you obtain and compare quotes from different insurers you will find out what you'll gain or lose if you go to another insurer.
8.
Increase your deductible.
For those who do not understand what a deductible is, it is an amount you're bound to pay if you file a claim before a company pays according to your policy terms.
The lowest deductible typically in home insurance is around $250.
Increasing your deductible to $500, for example, could save you up to 12%.
You can get discounts about 24 percent if you choose to raise yours to $1000.
Some insurers might offer more or less therefore discuss with your agent before you finalize your choice.
9.
You can realize savings of hundreds of dollars on your home insurance policy by requesting for insurance quotes from online sites.
The best method is to visit not less than three quotes sites and making sure that you input the same (correct) details.
I recommend that you visit at least three quotes sites since it will make it less likely that you'll miss out better quotes not carried by the other sites.
This gives you a broader basis for doing better comparisons thus increasing your chances of getting more for less.
Here are nine time-tested ways to do it...
1.
If you've renovated your house recently, you qualify for discounts.
The reason for this is that in the same way the systems and features of a new home are in excellent condition, a renovated house as well has its system, features and structures restored to top condition.
The more massive your renovation is, the more the discounts you should get.
Just ask your agent.
2.
When buying coverage for your home, make sure you give only the value of the home itself and its content without including the land's cost.
Home insurance is to protect what could be lost or stolen.
No peril can destroy the land on which the house is built.
Don't forget to use the price of your home minus the land when applying.
This is because doing the contrary means you're buying much more than is needed.
This translates to higher avoidable premiums.
3.
You'll attract more affordable quotes if your home is well secured.
Certain security systems will attract discounts of close to five percent.
With certain companies discounts of up 20 percent are available with the installation of certain really advanced security systems.
However, the devices have to be recommended by the company for you to get such discounts.
The big discount you get may not be worth it because these special devices cost much.
4.
Smokers get higher premiums.
Ask everyone who lives in your home to quit smoking.
Statistics indicate that about 23,000 residential fires result from smoking.
Despite all, not all insurance companies may offer discounts for this.
5.
You may qualify for discounts of about 10 percent with a number of insurers if you're retired.
You can expect retired folks to detect fires easily and maintain their homes better because they're always around.
6.
Your association might arrange discounts with an insurance company that you could benefit from.
Find out from any association or group you belong to.
You might already have discounts that have been arranged for you.
However, certain insurers who do not offer any form of discount to your group might still end up being much cheaper for you.
This is one of the main reasons I ask people to make out time to get multiple quotes.
Every insurance expert knows that this is the only way you can know whose the best offer is.
7.
You can get discounts if you remain with an insurer for over three years.
The concessions offered generally increases with the length of time you remain a policyholder.
The rebates you get for remaining with an insurance company may be far less than what you'll save if you move over to another company.
Knowing which offers more savings is really easy.
If you obtain and compare quotes from different insurers you will find out what you'll gain or lose if you go to another insurer.
8.
Increase your deductible.
For those who do not understand what a deductible is, it is an amount you're bound to pay if you file a claim before a company pays according to your policy terms.
The lowest deductible typically in home insurance is around $250.
Increasing your deductible to $500, for example, could save you up to 12%.
You can get discounts about 24 percent if you choose to raise yours to $1000.
Some insurers might offer more or less therefore discuss with your agent before you finalize your choice.
9.
You can realize savings of hundreds of dollars on your home insurance policy by requesting for insurance quotes from online sites.
The best method is to visit not less than three quotes sites and making sure that you input the same (correct) details.
I recommend that you visit at least three quotes sites since it will make it less likely that you'll miss out better quotes not carried by the other sites.
This gives you a broader basis for doing better comparisons thus increasing your chances of getting more for less.
Source...