Saturday, November 2, 2013
Home Insurance Rates - 7 Things That Will Keep Them Low
1. You'll get cheaper quotes if your home is better secured. Dead-bolt locks and burglar alarms may get you savings of around 5%. Certain insurance companies can give between 15 and 20% discounts if you install advanced fire and security devices that ring at a police station, fire station or any monitoring outfit.To get such discounts, though, those advanced security systems have to be those accepted by the insurance company. The huge discount you get may not be worth it because such special systems cost much.2. A home of smokers will get expensive home insurance rates. Your premium will be less if every smoker in your home quits. Many a fire in homes can be linked to smoking. Do bear in mind that a good number of insurers do not have any discounts for this.3. You can get discounts of around 10 percent on your rate with certain insurers once you're retired. The reasons for such discount are very clear: Retired people spend more time to maintain their homes are also in a better position to detect fires because they are usually at home most times.4. Your association might arrange discounts with an insurer that you could benefit from. Check if such has been arranged for any association you're part of There might be some arrangements you could take advantage of. However, some insurance companies who do not give any form of rebate to your association might still end up being much cheaper for you. This is one of the main reasons I encourage people to make out time to obtain many quotes. It was and still remains the sure way of making sure you're not paying higher premium than you should.5. Discounts are normally available to policy holders who remain with the same insurer for three years and more. The discounts given usually increase with your years as a policyholder.But do note that the concession you get on your home insurance rates for staying with an insurer may pale into insignificance if you compare it with the savings you could realize by changing to another insurance company. Therefore, do proper evaluation before settling for this option. Simply get new quotes from other insurers and then see if what you get as rebate for staying loyal to your company is more than what you'll be given for switching.6. You'll realize savings once in a while on your home insurance rates by simply looking through your policy limits each time there are changes in your home or its contents. This isn't particularly to make savings but to help you find out whether your policy limits are adequate.The other side of the coin is that you may inadvertently have much more coverage than is useful. You need to confirm that that valuable hand-woven rug is still worth the amount you insured or something dramatically different. Although doing this could force you to raise your floater sometimes (to ensure you have the right coverage), it will similarly show you when to cut down such floaters as certain items depreciate.7. Get and compare quotes from at least three quotes sites if you want to lower your home insurance rate. Visiting at least three quotes sites increase the chances that you'd receive better quotes. This is because companies not covered by one site will be covered by the other.Moreover, you know that because the likelihood of receiving lower home insurance quotes is tied to the number of quotes you get, the more companies you get quotes from, the better your chances will be. Getting your quotes online will help you save far more if you sacrifice only 15 minutes to obtain quotes from not less than three quotes sites.