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7 Sure-fire Ways Of Reducing Your Home Insurance Premium
By: Bill Smith
Home security improvement:
All insurance companies will happily offer you a discount for burglar alarms and
smoke detectors. Homes with fire and burglar alarms that communicate with a
third party monitoring company receive a higher discount on their insurance
premiums.
When possible, choose a higher deductible:
To reduce your premium, it is best advised to increase the deductible to the
extent you can afford. Your home insurance premium will fall by as much as 20%
if you increase the deductible from $200 to $1000.
Multiple insurance – Same provider:
If you consolidate your home insurance and auto insurance with one insurance
company, expect a premium reduction between 10 – 15%. This also means you are
making one payment for all your insurance needs. Consolidate and win.
Discount for non-smokers:
Some home insurance companies will offer a non-smoker discount to the tune of
15%. Check with your insurance company if they offer a non-smokers discount.
How far is the fire station?
If you live more than 5 miles from the nearest fire station and more than 1,000
feet from a fire hydrant, you can expect a higher premium. Also if you live in
the country, you will probably pay higher insurance rate than if you were living
in the city.
Type of construction:
The construction type of your home also plays an important role in determining
your insurance premium. A wood frame home will cost more to insure than the one
built mostly of concrete.
Claims free record and renewal discounts:
If you have not had a claim under your current home owners policy for the past
3-5 years, you will get a 15% discount on your premium. Expect additional
discount if your policy has been in force with the same insurance company for 3
years or more.
Conclusion:
I am hopeful you have gained preliminary knowledge on the subject of home
insurance premiums. With these helpful tips you will be able to understand and
demand discounts on your home insurance premiums. Good Luck!
About the Author:
@Copyrights 2005 - Bill A Smith is an insurance agent and insurance advisor
for Sunshine home and auto insurance services. Bill has over 10 years of
experience in providing insurance services to clients. Sunshine Insurance
Services provides auto, home, health and life insurance to businesses and
individuals. Visit us at http://www.sunshineinsuranceservices.com/
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