How To Get The Best Rates On Homeowner's Insurance In Iowa

Summary: There is no law in Iowa that requires a homeowner to purchase homeowner's insurance. If your home has a mortgage on it then your lender will require that you purchase homeowner's insurance, but even if your lender insists that you buy insurance keep in mind that you do not have to purchase insurance from any company recommended by your lender. You have the choice of which company to purchase your policy from, and you have considerable leeway in the terms and the cost of yo...

There is no law in Iowa that requires a homeowner to purchase homeowner's insurance. If your home has a mortgage on it then your lender will require that you purchase homeowner's insurance, but even if your lender insists that you buy insurance keep in mind that you do not have to purchase insurance from any company recommended by your lender. You have the choice of which company to purchase your policy from, and you have considerable leeway in the terms and the cost of your policy. The first thing you want to do when purchasing a homeowner's policy is to make sure that you are buying the right size policy. Your policy needs to cover the replacement cost of your home - in other words, your policy should provide enough money to rebuild your home from the foundation up and to replace all of your home's contents - but don't make the mistake of insuring the value of the land under your home. If you truly want to get the best rates on homeowner's insurance in Iowa there are several fairly easy steps you can take which will put you on the right path. Start by taking good care of your credit rating. Don't start spending beyond your means. Many people are not aware of the fact that your homeowner's insurance premiums are affected by your credit rating. The better your credit rating the better your premiums will be. Next, clear all weeds and brush at least ten feet away from all structures. This will reduce the fire risk to your property and should save you money each month on your premium. Install deadbolt locks on all exterior doors. Install motion sensitive floodlights for your property and trim all bushes around windows in order to discourage burglars. Make certain that every single window, regardless of which floor it's on, has a working lock and make certain windows are kept locked. If you can afford it, talk to your agent about installing a sprinkler system and/or a home security system that monitors your property for fire or burglary 24/7. Many such systems can save you as much as 20% or even 30% each and every month on your insurance costs. If anyone living in your household is 55 or older and retired let your insurance agent know that as well, since having someone on the property most of the day can save you cash every month on your homeowner's insurance premium. What is the deductible on your policy? If you can afford to increase your deductible you can reduce your monthly payment - sometimes substantially. Make certain you have installed the proper number of smoke and fire detectors for the layout of your house and make certain that all of them work. Detectors need fresh batteries twice yearly. Buy a fire extinguisher that is specifically designed for kitchen fires and make sure it's easily accessible. If you up-grade your electrical or plumbing talk to your agent - very often such up-grades, especially if your home is over 15 years old - can result in a substantial reduction in your monthly insurance cost. Now get online and start comparing policies and their prices among the different insurance companies doing business here in Iowa. Remember that if you are truly serious about finding the best rates on homeowner's insurance in Iowa that you will need to take the extra time to compare prices on at least 3 different websites. Good luck!