Top 3 Ways to Reduce Your Homeowner’s Insurance
Posted By admin on January 26, 2009
Thank you for revisiting you can still subscribe to my RSS feed. As Always Thank You for visiting!
The premium for home owner’s insurance is influenced by your credit and the replacement cost for the home. Since your home owner’s insurance can be part of your mortgage payment it is important to know ways to decrease the premium to lower your mortgage payment. There are three ways to decrease you home owner’s insurance:
- Since it may take some time to improve your credit, a reduction in replacement cost is one way to decrease your home owner’s insurance. Some insurance company can decrease your replacement cost to 80% of the replacement cost. For instance, if the replacement cost is $100,000 it can be decreased to 80,000 as long as it is enough to pay off the mortgage and help you start over if the home is total loss. Incidentally, this is not recommended for a long term solution to the increase in mortgage or insurance premium.
- Another way to decrease your premium is to increase your deductible. Remember on homeowner’s insurance you do not pay the deductible before a claim is paid it is simply deduct from the claim.
- Still yet another way is to decrease your liability coverage.
There is an often overlook way to combat an increase in premium that is to find out what your home owner’s insurance when it is three months before your one year anniversary of the purchase of your home. Your insurance agent should have your renewal premium amount. If it is more than one hundred over your previous year premium shop for new insurance by calling other companies and get quotes or ask for the above changes to your present premium.
Taylor-Brown's Related Post s' Related Posts - What is a HELOC? Before we discover why the home equity loan must be an adjusted rate loan and discover more about how the money merge account can make us financial free. I felt it was necessary to address several responses and comments about the money merge account. There has been a lot of......
- What Does Mortgage APR Indicate? [caption id="" align="alignleft" width="180" caption="Image via Wikipedia"][/caption] This post is written by Steven Parker. Steven Parker is a financial writer and contributor for the last five years. He specializes in mortgage and real estate industry and has written many articles on mortgage, reverse mortgage, loan modification, foreclosure and many......
- Surviving a Recession in Real Estate (Part 3) The premium for home owner's insurance is influenced by your credit and the replacement cost for the home. Since your home owner's insurance can be part of your mortgage payment it is important to know ways to decrease the premium to lower your mortgage payment. There are three ways to......
- Did You Know Your Mortgage is a Closed End Loan? Did you know that your mortgage is a closed end loan? What is a closed end loan, you ask? A closed end loan is a loan that has limitations because the money paid in cannot be withdrawn. Meaning that once the money is received by the lender it is......
- How to Qualify to Buy Your First Home in Today's Market The mortgage arena has changes a lot in the last two years, but there are tips that will help you achieve the American Dream of homeownership. Learn the terms for both mortgages and real estate Understand the cost involved in getting a mortgage Check your credit before applying for the......
- Do Your Parents Need Long Term Care Insurance? A few months ago I wrote about how finding out your parents financial situation can be stressful and I thought...
- Are Prepaid Legal Plans Worth It? A few years ago, my former company began offering prepaid legal plans as an employee benefit. I forget the exact...
- Do You Or Your Loved Ones Need Insurance For Long-Term Care? I wrote a while back about long-term care insurance for our parents, but I just came across an article in...
- Setting Up A Good Financial Plan Can Help You To Weather Any Storm The last few days we've been talking about how you can prepare yourself for emergencies, both big and small. We...
- Pay Bills Online and Save These days, most companies (including banks and utility companies) have websites and online payment options. Those that don't often accept...
About the author
Your blog is so explanatory … Keep up the pleasant work!!!!
I truly enjoyed your article. Will link back from my web site. Please post more often if you have time. Thanks!
I liked this site on long term care insurance. Good source of quotes.
Great Read. Would you be interested in exchanging links.
When one debates the issue at hand, i have to agree with your endings. You understandably show cognition about this matter and i have much to learn after reading your article.Much salutations and i will come back for any further updates.
The blog was absolutely fantastic! Lots of great information and inspiration, both of which we all need!
Your blog is awesome! I found it on Yahoo and couldn