Categories: Uncategorized | March 28th, 2013 | by admin | no comments
There are many ways to reduce home insurance rates. But that doesn’t mean that each one of them is right for your situation. Occasionally one or two of these options can actually be detrimental to the homeowner since they can actually negate the insurance coverage. That is why looking at all of them is so very important.
The first option is performing a home makeover. When doing a renovation on the home, using proper materials will lower your rate. For those domiciles in states prone to earthquakes for example, a frame home is the proper way to go. This means that if you are living in the East region and have a frame home; insurance costs are more likely to be higher. But for homeowners living on the West coast will see their premiums decrease since claims will likely be reduced.
Another great idea is to examine the home insurance policy on an annual basis or when a major change occurs to the house. Things change and you are likely to reduce your premium amount if there is something over valued for instance.
The amount of coverage will still be correct and what’s best of all is that the costs will be lower. It also runs the other way however, so if something was not insured with enough coverage, you will end up paying more to afford the right amount of protection.
One thing that increases rates across the board is the presence of a smoker in the home. Insurance company research shows that more than 23,000 residential home fires are started because of smoking. Thus a more affordable rate can be obtained if nobody smokes in the house.
Unfortunately for most smokers, insurance companies have to protect themselves, but if they quit for more than one year, a review of their policy could mean savings. Bear in mind that some insurance companies do not have non-smoker discount rates, but with the number of firms offering insurance, this can be overcome as well.
Another area that homeowner may be surprised to find discounts available is with their landscaping. Those nasty potholes for example in the driveway can increase the chance of injury and thus a claim for liability. But by making sure that everything is safe and beautiful, premiums are likely to be reduced.
This is the main reason that houses that have just been built or have undergone a major renovation are more attractive to insurance providers and will be offered a better rate to homeowners.
If you are really looking to save on insurance rates, it is important to comparison shop among companies. Depending on what type of coverage you require, quotes can be in excess of 1000. But by choosing the lowest quote, a significant savings can be achieved. For people seeking the lowest price, they can check out homeinsurance-rates.com.