cheap house insurance- how to get lower rates

Geico Home Owners Insurance - 8 Things That Will Make You Get Lower Rates


1. Just as a newly built house attracts reduced rates, you get discounts if your house undergoes a renovation. The reason for this isn't hard to guess since we all understand that once a house is renovated, it's as good as new and as a result the owner is very unlikely to make a claim for repairs soon. All renovations won't bring similar savings since the degree of renovation done is rightly a defining factor. You can find out what you'd get as discounts if you ask an agent.

2. Don't add the cost of the land when you apply for your homeowners insurance policy. You insure the home to get coverage from perils that could make you lose it. No matter what happens, the land on which your house is built will still be where it was. When you apply, remember to deduct the land's value. If you fail to do this you'll be buying far more insurance than is necessary. You'll simply be spending a lot more than you should.

3. You'll attract more affordable rates if your home is better secured. Certain security systems will attract discounts of about 5 percent. Certain insurers take it even further and offer between 15-20% reduction in rates if you get special fire and security systems that ring at a police station, fire station or any monitoring outfit. Just bear in mind that such devices must be such recommended by such an insurer for you to qualify for such huge discounts. The huge markdown you get might not be worth it since these advanced systems cost quite a lot.

4. A home of smokers will attract expensive premiums. Your home insurance rate will be less if any smoker in your household quits. More than 20,000 residential fires are traceable to smoking yearly. Do bear in mind that some insurers may not offer any markdowns for this.

5. If you're retired, you've qualified for discounts in home insurance from certain home insurance providers. This discount is based on the thinking that retirees spend more time to look after their home and are also likely to spot fires more easily.

6. Rebates are usually given to those who remain with the same insurance company more than three years. The longer the time you stay loyal to an insurance company, the higher the concession you get. The rebates you get for remaining with an insurance company may be smaller than what you'll gain by switching. Knowing which is better for you is very easy. You can know for sure by getting quotes from as many insurers as you can and then compare savings you'll realize if you switch with what your current insurer gives as concession.

7. You'll get a cheaper Geico home owners insurance premium if you opt for a higher deductible.

A deductible is the amount a policyholder must pay before his/her insurer becomes bound by law to pay as indicated in the terms of their policy. The least deductible normally in home insurance is about $250. By increasing your deductible to $500 you'd likely realize savings of about 12%. Increasing it more to $1000 may result in twenty-four percent discount. Different insurance companies could offer more or less so check with your agent before you make this decision.

8. Get and compare quotes from not less than three quotes sites. Although Geico home owners insurance rates might be good for your profile, some other reputable insurance companies might have rates that are up to 50% less.

Requesting quotes from a minimum of three quotes sites increase the chances that you'd get more affordable home insurance quotes. This is because insurance companies not represented by one site would be represented by the other. And, you should understand that because the likelihood of getting lower home insurance quotes has to do with the number of quotes you obtain, the more insurers you get quotes from, the higher your chances will be. Requesting for your home insurance quotes online will help you save much more if you sacrifice just 15 minutes to obtain quotes from a minimum of 3 quotes sites.