NY Homeowner Insurance -- 7 Tested Tips

You can enjoy high quality coverage without breaking the bank. All you need to achieve this goal are little bits of information (that you'd have to implement, though). Let us get into the ideas you need to enjoy cheaper rates...

1. Don't insure your home along with the land it is standing on as this will cost you more but quite needless. People who ignorantly do this pay for more insurance than would be of any benefit. Insuring your home for the full price you bought it without subtracting the land's cost is an expensive error.

For those who've ignorantly done this, call your agent and check your New York home insurance coverage again. Lower your coverage to the cost of your home and its contents minus the land's cost.

Doing this will lower your premiums by a huge margin and still have adequate New York home insurance coverage. Bear it in mind that insuring the land your home is standing on is real waste of money since it does NOT give you any added advantage.

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2. Your rate is partly determined by your credit history. You will pay higher NY home insurance rates if you have a low credit rating. A poor credit rating suggests that you have not been paying your bills promptly. An insurer takes this to mean that you're not financially very responsible and will possibly default in paying your premiums. This makes you a bigger risk and so justifies a higher rate.

So do your utmost to pay all your bills in a timely manner. It will help you get more affordable rates among other things.

3. Electing to pay your rates monthly leads to more expensive premiums than you'd spend if you decide to pay yearly. A strong reason for this is the cost an insurance company incurs by posting you twelve payment notices instead of just one annually.

If you add to the fact that each check you give is considered a transaction by their bankers, you'll see that they still spend some more on transaction fees for each check you pay in. They pay transaction charges 12 times instead of once yearly for monthly premiums. And as with every other thing, it is you the end user or insured who bears that cost.

Therefore choose yearly payments instead if you want to save this way. The real amount you could save may differ but you may be able to save up to a month's premium worth with some insurance companies if you choose this option.

4. Make the exterior of your home fire-safe and you will lower your NY home insurance rate. Having things that are very inflammable or that aid combustion close to your dwelling will make you pay higher rates. Although cutting bushes around your house looks simple, you will get cheaper rates if you do keep them at a distance of at least 10 feet from your building. Fire-safety is a strong factor that is used to calculate how much or little you pay in premiums.

5. You'll also get a discount if you have motion-sensitive lighting for your home's exterior. Burglars generally don't like to operate in any environment they could be easily seen or caught. Your rate will be reduced you have reduced your home's risk of burglary with this type of lighting.

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6. Getting dead-bolt locks on all exterior door will lower your New York home insurance premium. They will make it more difficult for burglars to break into your home. And as you know, the lower the risk of burglary in a home, the lower rates it will attract.

7. Window locks on every window will save you a little because they reduce your home's risk of burglary. You will save even much more if you go further to get burglary-proof bars fitted on every window. Although some people don't like this because it makes them feel imprisoned in their own house, it really does lower your rate considerably. So, if you are okay with having burglary-proof bars in your home, have them built in and you'll pay much less in your New York home insurance rate.
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