Most of us never bother to check our homeowners policies to see if we're paying for coverage we don't need, or bother to compare rates with other companies to make sure we're not paying too much.
Here's how to make sure you're getting the cheapest homeowners rate with a top-rated company …
Insure Your Home – Not Your Land
Don't insure your home for it's appraised value because that includes the value of your land. You only want enough insurance to pay for rebuilding your home and replacing your personal possessions.
To figure the cost of rebuilding your home, ask a local builder or real estate agent what the square-foot building costs are in your area, then multiply that figure by your home's square footage. To figure the replacement cost of your personal possessions, add up the value of everything you own.
Increase Your Deductible
The deductible is the money you pay toward a claim before your insurer will pay.
By increasing your deductible from $250 to $500 you can save up to 15% on your premium. Increasing it to $1,000 can save you up to 25%. Just make sure you can afford the increase should you need to pay a claim.
Bundle Your Policies
Purchasing your auto and homeowners insurance through the same company can save you up to 15% on your insurance.
Get All the Discounts You Can
Insurers don't always include all the discounts you're eligible for in your policy. To make sure you get them, call your insurer, ask about all the discounts you qualify for, and have them included in your policy.
Compare Rates
Rates can vary by hundreds of dollars a year from one company to the next for the exact same policy. The best way to get the best price on your homeowners insurance is to compare rates from different companies and choose the cheapest one.
You can do this easily and quickly by going to an insurance comparison website. All you do is fill out a simple online questionnaire to get your quotes, compare them, then choose the company that offers the best coverage and the best rate.
Visit http://www.LowerRateQuotes.com/homeowners-insurance.html or click on the following link to get
homeowners insurance quotes from top-rated companies and see how much you can save. You can get more tips and advice in their Articles section, and get answers to your questions from an insurance expert by using their online chat service.
The author, Brian Stevens, is a former insurance agent and financial consultant who has written a number of articles on homeowners insurance.
