How to get the best Home Insurance Rates

The following article gives information on How to get the best Home Insurance Rates. It’s easy to get the best rate on home insurance policty, if you know where to look. You can get discounts on your insurance for many reasons, from the type of materials your home is made of, to your proximity to a fire station. Here are some easy ways to get the best home insurance rates.

How to get the best Home Insurance Rates

*Shop around, and check with several insurers for rate quotes.

*Raise the deductible, which is the amount of money you pay before your insurance covers your loss. The typical deductible starts at $250, but to save even more, raise it to: $500 (savings of 12%), $1,000 (savings of 24%), $2,500 (up to 30%), $5,000 (up to 37%). However, you shouldn’t make the deductible so high that you cannot afford to pay it.

*Get your auto and home insurance policies from one company, because most will give you a discount if you combine the two.

*Think about the current condition of your home. If you are thinking of buying, look at the electrical, heating, plumbing, and structure. Newer homes are generally in better condition than older ones, meaning lower premiums.

*Insure your house but not your land. Although you can lose your home and belongings to theft, fire, storms and other dangers, you cannot lose your land. Exclude its value from the policy you plan to buy.

*Consider adding items like deadbolts, smoke/carbon monoxide detectors, and burglar bars. Each of those can bring up to a 5% discount, depending on your chosen insurer. Your company may give a discount of up to 1/5 if you install a home security system.

*If you haven’t done so already, quit smoking. Smoking accidents cause over 23,000 fires per year, and some insurers offer a reduced premium if no smokers live in the home.

*If applicable, ask for a senior discount. Insurers have discovered that retired people tend to be home more often, and therefore can spot fires and other dangers sooner than a working person. A retiree also has more time to devote to home maintenance. If you are over 55 and out of the work force, you may be eligible for up to a 10% discount.

*Inquire about group coverage. Business and alumni associations sometimes have deals with insurers- ask the director of your association for more details.

*Remain with the same insurer. If you have had the same company for a few years, you may be eligible for a loyalty discount. Some insurers will lower the premium by 5% for every three years you stay, and some will offer up to a 10% discount after 6 years.

*Pay electronically. Some insurers charge up to a $5 convenience fee for a mailed payment, so get them automatically debited.

*Keep an eye on your credit score. Most insurers check your credit and base your premium on it.

Those are just a few ways to get the best home insurance rates. Taking a little time to look for a discount or two now, will save you a lot of money when it comes time to pay your premium.

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