Cheaper Home Owners' Insurance: 5 Tested Suggestions

1. You will pay lower premiums if you elect to pay your premiums yearly and not every month. This is because posting twelve bills by mail each month costs your insurer much.

The cost increases if you include the fact that they pay transaction fees for processing each check you give them monthly as payment. They pay transaction fees 12 times instead of once a year for monthly payments. And as with every other thing, it is you the end user or policy holder who bears that cost.

Therefore choose annual payments instead if you intend to save through this means. The actual amount you could save may differ but expect to save up to a month's premium worth with some insurers if you settle for this option.

2. Motion-sensitive lighting lowers your home's risk of burglary and, therefore, makes it easier for you to get cheaper home insurance rates. Burglars will keep off from places where their movement will be easily observed. And motion-sensitive lighting does this precisely. Your rate will be reduced once you've lowered your home's risk of burglary through such lighting.

3. The material you use in the construction of your home goes a long way in affecting your home insurance premium. Buy a frame home for better resistance to earthquakes or buy a brick home if you want better resistance to high winds. So if you live in the East, you'll enjoy lower premiums if you yours is a brick home. On the other hand, people who reside in the West will get cheaper premiums if by buying a frame home because of the earthquakes there. You will save at least 5% if you use the preferred material for your building.

4. If you install a sprinkler you will get a discount. Sprinklers are very helpful in putting off fires and therefore reduces the risk of fire damage. It's slightly expensive so you will do yourself a lot good to ask your agent what you will save if you have this fixed.

5. It is more expensive and very unnecessary to insure the land on which your house is standing. Some people pay much more than they should on home insurance because they make this mistake. They just insure their home for its full value without subtracting the land's cost.

If you made such a mistake, you'll have to re-evaluate your home insurance coverage and check it again with your agent. Deduct the value of the land and you will realize that you will need far less coverage.

Doing this will reduce your rates by a huge margin and still have adequate home insurance coverage. Since insurance is for valuables that can't afford to lose, insuring the land which can neither get lost or damaged isn't right.
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