ST. LOUIS, Dec. 1, 2010 /PRNewswire/ -- Especially with today's economic climate, people are looking to save money where they can. Here are four ways people can reduce their homeowners insurance rates.
1. Shop around. Some insurance companies have been raising house insurance costs to recoup losses from the financial crisis. Others are competing for new customers by offering lower rates. By shopping around people can find better deals on homeowners insurance.
2. Re-evaluate coverage amounts. Many policies have inflation protection provisions, which automatically increase coverage amounts. This was a good item in the years leading up to the crash, but today they should be looked at more closely.
3. Check personal credit reports. Homeowners insurance companies check credit history before figuring rates, similar to how lenders do. This is done to help them assess the risk of payment and likely individual responsibility.
4. Small claims can become expensive. Homeowners should have the highest deductible they can comfortably afford and repair minor items out of pocket rather than filing a claim. Filing a claim for every broken window or leaky pipe can increase premiums by 10-15%.
HomeownersInsurance.net provides a free service that connects homeowners with agents who will offer free quotes on their homeowners insurance. The homeowner can review home insurance rates that are right for them. Shopping online for homeowners insurance is the best way to compare policies and rates to find the most comprehensive and affordable choice. Take the first step in choosing the right carrier for your homeowners insurance by visiting the website.