Saving Money on Your Homeowner's Insurance
As a homeowner, you want to be certain your property is properly insured. After all, your home is the single biggest investment you will likely ever make. As such, you want to make certain it is protected against damage, vandalism or thievery. At the same time, you don't want to spend more than necessary to insure your home. Therefore, in order to save the most on your home insurance cost, you might want to follow these simple tips.
Tip #1: Get Your Home Appraised
Before you start searching for a home insurance policy, you need to have a good idea of the value of your home. This way, you know how much coverage you need to have in place in order to replace your home if it becomes completely damaged.
Tip #2: Shop Around
It is also important for you to take the time to shop around and to compare the policies and rates of various insurance companies. Ideally, you should get at least three different quotes to compare. Be certain the policy terms are the same with each of the companies you compare. That way, you can be certain you are fairly comparing what each company has to offer.
Tip #3: Increase Your Deductible
Increasing the deductible on your home insurance policy is one of the quickest ways to decrease your premium payments. In fact, simply raising your deductible from $500 to $1000 can save you as much as 25% on your premiums. Of course, before you make this change, make certain you would be financially capable of meeting the deductible if a disaster should occur.
Tip #4: Look for Combo Deals
In many cases, you can save money on your insurance policy if you purchase your homeowner's insurance and your automobile insurance from the same company. In fact, some companies will reduce your premium payments by as much as 15% if you carry both types of policies. So, be sure to keep this in mind when shopping around and comparing the rates of different companies.
Tip #5: Make Some Changes to Your Home
Making a few simple changes to your home can sometimes result in a decrease in insurance costs. For example, installing shatter-proof glass, adding storm shutters and modernizing your plumbing, heating and electrical systems can all help reduce the costs of your insurance. Similarly, adding security features such as burglar alarms, smoke detectors and dead-bolt locks can also bring down your rates. Discuss these items with your agent and find out which additions to your home can help you bring the cost of your insurance premiums down. In some cases, you may need to install certain brands or follow specific guidelines in order to receive the discounts offered by your insurance company.
About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for http://www.electronicappraiser.com/, which is a leading provider of home appraisals that offers a nationwide personalized instant informational report about house values. For more information, please visit www.electronicappraiser.com .
Tip #1: Get Your Home Appraised
Before you start searching for a home insurance policy, you need to have a good idea of the value of your home. This way, you know how much coverage you need to have in place in order to replace your home if it becomes completely damaged.
Tip #2: Shop Around
It is also important for you to take the time to shop around and to compare the policies and rates of various insurance companies. Ideally, you should get at least three different quotes to compare. Be certain the policy terms are the same with each of the companies you compare. That way, you can be certain you are fairly comparing what each company has to offer.
Tip #3: Increase Your Deductible
Increasing the deductible on your home insurance policy is one of the quickest ways to decrease your premium payments. In fact, simply raising your deductible from $500 to $1000 can save you as much as 25% on your premiums. Of course, before you make this change, make certain you would be financially capable of meeting the deductible if a disaster should occur.
Tip #4: Look for Combo Deals
In many cases, you can save money on your insurance policy if you purchase your homeowner's insurance and your automobile insurance from the same company. In fact, some companies will reduce your premium payments by as much as 15% if you carry both types of policies. So, be sure to keep this in mind when shopping around and comparing the rates of different companies.
Tip #5: Make Some Changes to Your Home
Making a few simple changes to your home can sometimes result in a decrease in insurance costs. For example, installing shatter-proof glass, adding storm shutters and modernizing your plumbing, heating and electrical systems can all help reduce the costs of your insurance. Similarly, adding security features such as burglar alarms, smoke detectors and dead-bolt locks can also bring down your rates. Discuss these items with your agent and find out which additions to your home can help you bring the cost of your insurance premiums down. In some cases, you may need to install certain brands or follow specific guidelines in order to receive the discounts offered by your insurance company.
About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for http://www.electronicappraiser.com/, which is a leading provider of home appraisals that offers a nationwide personalized instant informational report about house values. For more information, please visit www.electronicappraiser.com .
Labels: home buying advice, home selling advice, insurance
posted by Electronic Appraiser at
1:40 PM
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