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How smart homeowners are keeping their home insurance costs low.
[author:Don Francis Public time:May 8, 2007]

Some homeowners have found ways to reduce their home insurance costs even as costs continue to rise and budgets get tighter and tighter with each passing year. Here are some of the things they are doing.

1. Increasing Home Security

Fitting their homes with security devices. This earns a Home Security Discount. They make sure their homes are fitted with such devices as dead bolt locks, smoke detectors, fire extinguishers, burglar and fire alarms that are monitored.

2. Keeping their credit scores high.

While it would seem that a good credit score would have nothing to do with insurance rates, it is a fact that they do. Home Insurance companies have been known to use credit scores indicators of responsibility. The theory is the more responsible the individual the less claims they will have. So, insurance companies are giving lower rates to those individuals with a better credit score.

3. Consolidating their policies.

These homeowners often purchase other forms of insurance from their home insurance provider, thereby earning higher discounts that save them up to 30% off of their total insurance bill.

4. Protect their homes with updates.

Discuss with your agent about the possibilities of receiving home insurance discounts for keeping your home in good repair. Some home insurance companies will offer savings for a anew roof, electrical, HVAC, plumbing updates. The discounts are generally not enough to warrant the replacement but if you needed it anyway, be sure to get the discounts if applicable.

5. They make sure they are not over insured.

Your home insurance coverage should not necessarily be what you paid for them home. Land values are calculated into the final sales price and should be considered when insuring the structure. In others words you cannot hurt the dirt. A good idea is to call local builders and ask them what new home construction cost per square foot is going for. Take that number, multiply that times your square footage and that is the amount that your home should be insured for. Companies will not pay more than what it is going to cost to rebuild the home anyway, so make sure you are insured correctly.

6. They are not afraid to shop Around

They use online companies that give them the ability to get multiple home insurance quotes. To get one, please visit insureinfousa.blogspot.com. Also be aware that not all insurance companies are created equal. There are some bad ones out there but most, at worst, are pretty good. Getting the best price is great, but check up on the company offering you that price at reputable insurance rating sites like Moodys.com or AMBest.com

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Source:Free Press Release