Homeowners Insurance

Friday, April 16, 2010

Where to Get Affordable Homeowner's Insurance Coverage

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Are you paying too much for your homeowners' insurance coverage? Whether you're insuring a home or a condo, you may be paying too much if you aren't taking advantage of these money-saving tips...

Shop Around for the Best Rates

One of the most overlooked ways to save on your home insurance policy is to shop around for the best rate.

When was the last time you compared prices for homeowners coverage? Many homeowners don't know that insurance rates can vary by hundreds, even thousands of dollars from one company to another.

To easily compare quotes from different companies, go to an insurance comparison website. Here you'll fill out a simple online form, after which you'll receive rate quotes from multiple A-rated insurance companies.

You may find that you can save a lot of money simply by changing companies.

Get all the Discounts You Can

Most home companies offer discounts that directly lower the cost of your policy. For example, you can usually get a discount for having safety features in your home such as alarm systems, fire extinguishers, smoke detectors, and deadbolts.

Other common discounts include...

* A non-smokers discount if no one in your home smokes

* A senior citizens discount if you're a retired senior

* An multi-policy discount for placing your auto and home insurance with the same company

Many companies don't tell you about all the discounts they offer, so be sure to ask for all the discounts you're eligible for.

Set Your Deductible As High As You Can Afford

The deductible is the amount you pay toward any claim before your insurance company begins to pay. The higher you set your deductible, the lower your premium will be.

Why? Because the insurance company knows you'll be paying for small covered home repairs yourself instead of submitting a claim.

By raising your deductible from $500 to $1,000 you can save 15% to 25% on your premium. Raising it to $2,500 can save you up to 35%.

Improve Your Credit

A poor credit rating can be a real liability when it comes to insurance. The better your credit rating, the better the rates you'll qualify for.

If your credit rating is less than stellar, work on improving it. Once your credit rating improves, your premium should decrease.

Article Source: http://EzineArticles.com/?expert=Brian_Stevens

Labels: affordable homeowner's insurance, get affordable, homeowner's insurance, insurance coverage