For your consideration: Save Big Money With These Easy Tips When Looking For Home Insurance.

You might not want to pay for it, but most countries require it: Homeowners Insurance.

Here's a bunch of tips before getting a policy set up for your home or investment property:

1. Get a home security system. No, The Money Kings don't recommend those systems that are sold door to door with all kinds of police integration or anything. We don't want you to complicate your life more, and to have ANOTHER monthly payment to handle. You can purchase a do-it-yourself kit online and be on your way. Your insurer will reward you for this small step.
2. Get quotes from multiple vendors. Pit the companies against each other and make them pay for your business.
3. Keep your credit score in good standing. That's right! Keep your credit score in good standing. It will help your rates.
4. Review your policy each year. Watch for sneak rate adjustments. It's not like the company is going to send you a message saying, "Hey! We just increased your rate by 30%! Do you like that?"
5. Tell your insurer you live near a fire hydrant (If this is true! Nice try scammers!). It might get your insurer to drop his rate.
6. Raise your deductible. This will keep your monthly payments lower. You'll pay more on the back end for a claim, but we're betting that you won't need to make one anyway.
7. Use A.M. Best to check your insurer's financial stability. This service is free. An insurer with a better rating will charge you less, because they've got their act together.
8. Contact the Feds to help you with your insurer choice. You are paying taxes to have people help you with this kind of stuff. Might as well look into using "your" employees.
9. Use your tax assessment to negotiate your insurance coverage. The part of your tax bill that talks about LAND value should be deducted from your total policy value since the land under your home isn't in any danger from fire, theft, flooding or monster attack, is it?
10. Ask your insurance agent to be straight with you about what you can do to make your home safer from natural disasters. If your company gives you credit for putting a special type of shingle on your roof, then take advantage of money saving opportunity!
11. Consider switching your auto insurance and other policies over to your homeowner company. You might get a blanket discount on all of your policies.
12. Be loyal. Some insurers will discount your premiums just for sticking with them. Ask a company upfront if they offer this type of discount.
13. Make sure your insurer knows your home electrical and plumbing work are 10 years old or less. Your rate could drop simply because of this fact.
14. If you paid to have your basement or crawl space permanently sealed from water, your flood insurance rate could deserve to be lowered
15. Some insurers will give lower rates to wood framed homes in earthquake zones. Masonry and steel framed homes could crack under earthquake pressures where wood is more likely to bend and flex.
16. Ever been in a wind storm or tornado? Seen things sticking out of the sides of houses after they've been whipped through the air at a hundred miles per hour? If your home is made of brick, you'll avoid this disaster and you might warrant a lower insurance rate as a result

If your a loyal reader of The Money Kings and you've got more tips for us all, don't be afraid to comment on this post!

Good luck out there.


The Money Kings

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