Have you recently bought a home and purchased home owner’s insurance? Maybe you own a home and you have yet to purchase insurance for it. Either way, it is important that you are well-informed about the ins and outs of home insurance. The following article is going to give you some of that knowledge.
Be sure to purchase your homeowners’ insurance in a timely manner. If you do not have insurance, you will be helpless in the event of a fire, burglary or other disaster. Insurance may be a requirement if you are mortgaging your home.
When your children leave home or you acquire new possessions, your coverage should be decreased or increased accordingly. Check your policy a second time to make sure that you account for everything. If you have special items that you want to ensure they are covered, you can ask for a separate rider to cover those against theft.
When purchasing homeowner’s insurance, do not forget about flood insurance. Flooding is not typically covered by homeowner’s insurance, and due to recent events, it is clear that floods can happen in areas you don’t expect. Flooding can happen unexpectedly and be very damaging, so make sure you get the right plan.
Keep a detailed inventory of all valuable items within your home. Suffering through a major disaster can be overcome without losing everything, but only if you remain diligent and update the insurance agency frequently. Keep pictures of the items you have in your home, including what is in your closet.
Install a security system in your home that is monitored by a central monitoring station, and you will save about five percent on your home insurance. You will likely have to provide proof to your home insurance company to get the discount, but that is as easy as sending them a copy of your monitoring bill.
Stay vigilant over the cost of your home insurance premiums by doing an annual check of your policy statements, and seek quotes from other companies to ensure you are paying the lowest rates. Your insurance doesn’t always automatically reflect changes that can lower your rates, so you want to make sure any discounts for adding alarms, sprinkler systems or removing a swimming pool are applied. Staying vigilant is the best way to save money!
If you’re about to turn 55, this is a great time to shop for a new homeowner’s policy, or at least ask your current insurance carrier for a policy review. Senior citizens (55 and over) are often eligible for good insurance discounts. If your current company does not offer a discount, shop around.
Install a security system in your home. Not only will it make you and your family feel safer and give your home some added safety from potential intruders, you will also find that it usually lowers your usual home insurance premiums. It can actually end up saving you as much as 20%.
If you are looking to lower your homeowner’s insurance premium, you may want to consider installing a burglar alarm. An alarm monitored by a central location or through your local police may lower your annual premiums by five percent or more. Show proof of this to your insurance company, and begin seeing the benefits of lower premiums.
Before signing a homeowner’s insurance policy with a company, check their financial status and health. Look to see if they have been in business a while and if they pay out their claims quickly. You should do this in a seasonal manner once your policy is in place.
Raising a deductible is a good way to lower home insurance premiums. You want to do research, but smaller claims like leaky pipe damage or broken windows can cost you and you’ll have to pay for them.
In conclusion, whether you are an insured home owner or if you have yet to get home insurance, it is wise to be well informed on the subject. Use the information given to you in the above article to make sure you have the best home owner’s insurance possible.
To help you have peace of mind and save money on your insurance premiums, install a centrally monitored security system. This not only ensures a secure home for your family, but your homeowner’s policy will be reduced by 5 percent or more. In order to save money, though, you will need to show proof to your insurance company.