With the prices for everything skyrocketing these days, every penny counts. This includes your
homeowner’s insurance costs. If you’re
thinking of buying a home and need homeowner’s insurance, here are a few
tips on getting quality insurance for a fair price:
Tip #1: Shop Around
Ask family and friends about their homeowner’s insurance. Check the
Yellow Pages, the National Association of Insurance Commissioners (NAIC)
and the state insurance department.
Other places to shop for insurance include consumer guides, insurance
agents and online insurance quote services. Don’t just look for lower
prices, however. You need a fair price for the services you need.
Tip #2: Raise Your Deductible
The deductible is how much you have to pay before the insurance
company starts to pay a claim on your home. The higher the deductible,
the lower the premiums. If you live in a disaster-prone area, your
policy may have a separate deductible for specific types of damages.
Make sure, when reading the policy, you carefully go over damage-specific information.
Tip #3: Use The Same Insurer
Some companies will take five to fifteen percent off your premium if
you buy more than one policy from them. If the insurer offers
homeowner’s, auto and liability coverage, you stand a chance of having a
lower premium than if they only offer one or the other.
The key is to make sure that the combined price is lower than if you bought them separately.
Tip #4: Improve Home Security
By installing a sophisticated fire sprinkler system and a
fire/burglar alarm that rings the monitoring stations, some companies
will cut your premium as much as fifteen or twenty percent.
For a smoke detector, burglar alarm or deadbolt locks, you can
usually get at least a five percent discount. Check with your insurer to
make sure that the system you’re installing will lower your premiums,
though; the systems aren’t cheap and not all of them qualify for a
Read everything carefully before you sign, to make sure the policy
covers your insurance needs without adding on hidden fees. Even a little
money saved can go a long way toward making it easier to live within
Ready to buy a home? Let me help you find the perfect home and get it
at the best terms and price. Call or email your trusted real estate