Saturday, November 2, 2013

Home Insurance Rates - Save 20 to 40 Percent or More!

Home Insurance Savings Many American families are feeling a budget strain these days. Fuel prices show no sign of declining, and many other necessary items are rising too. Of course, many US homeowners are getting hit with rising interest rates too. However, one item that many people do not realize they can save money on, while still keeping good coverage, is their home insurance premium. Even a 20% rate reduction can shave a couple hundred dollars, or more, off of yearly premiums. If you follow a few of these tips, you may be able to cut your rates by 40% or more!Consider Your Home Insurance DeductibleIf you have a $500 home insurance deductible, and you raise it to $1,000, you may save an average of 25%. If your home insurance premiums were $1,500 a year, this is almost $400 a year in savings. Consider that you will save an amount that is very close to the amount you have raised your deductible, and you will continue to have these savings every year! Over the course of a thirty year mortgage, you would have saved $12,000! It is unlikely that the increased deductible would come close to that amount over the same 30 year period.Earn Home Insurance DiscountsYou can earn more discounts on home insurance by improving your home! Anti-theft devices and security systems can earn another 20% discount. Many home security companies will install these systems for free, or for very small fees, in return for a monthly contract. You can sleep more soundly, knowing your home is protected against theft or fire, and you can save more money on home insurance.If you live in an area that storms often, consider storm shutters or roof reinforcements in order to protect your home further. New appliances, which are safer and use less energy, can also help.Combine PoliciesIf you have more than one home to insure, or if you also have a car or two, you have a common way to save money. Many home insurance companies will encourage you to give them all of your insurance business by giving you a discount for using them for multiple insurance policies.Watch Your CreditYou know that your credit score impacts the price you pay for many things. Loan rates are much lower when you have good credit. Many home insurance companies also consider an applicant's credit when they set the rates they will offer.Shop!And of course, since you do have business to give a company, be sure and look around. This used to be really hard since insurance rates depend upon many factors. It took a long time to call various insurance companies and agents to compare plans and rates. But now, the internet has made this easier. You can find simple insurance quote forms, that usually take about five minutes to complete. Then you can sit back and let insurance companies compete for your business. I suggest looking for a reliable system with third party verification, like the Better Business Bureau or National Ethics Check. Also look for systems that run on a secure server.

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