Some insurance companies like to hit you with those hidden charges that run your bills up, hundreds more per month, than they should be. Don’t fall into this homeowners’ insurance trap. Use the tips provided in this article to fight back and to find a great deal on a solid insurance package, for the house you live in.
Keeping the annual insurance premiums low is a concern for many homeowners. One thing you can do is raise your deductible. A high deductible leads to small premiums. However, ensure you have an emergency repair fund to make necessary small repairs that your insurance will not pay for.
Insurance Premiums
There are two things you can do to lower your home insurance premiums. The first step is to have a quality security system installed. You could see a reduction in your yearly premium of up to five percent. However, remember to contact your agency and provide proof of the new installation before expecting to see a change. Next, add smoke alarms. Smoke alarms can reduce insurance premiums by 10 percent.
It may be smart to have flood insurance even when living away from bodies of water. Living in a low-risk area for floods does not mean that flooding will never happen to you. You can get a great discount on your flood insurance if you’re in a medium or low-risk areas.
When considering insurance for your home, be sure to sign up with a deal that has a guaranteed replacement value clause written into it. This will ensure that your house will be covered no matter what the cost of materials and labor currently are. This helps if you are in an area that has seen and will see an increase in construction costs and property value.
If you suffer damage to your home that requires a claim to your homeowner’s insurance policy, don’t hesitate to take emergency steps to protect your home. Cover any broken windows, dry out wet carpeting, and secure any valuables that survived. If further damage results from your failure to protect your home, it may be considered negligence and not be covered.
Prior to getting homeowner’s insurance, try to get your whole mortgage paid off. Your premium rates can be substantially reduced by this fact. This is because insurance companies assume that if the home is paid for you will care for your home; thus, reducing claims.
For things like homeowner’s insurance, there are things that you can do to help lower the cost of your coverage. Things like a home alarm that is monitored by a central location, can help drop your premium almost as much as 5%. You need to have proof of the alarm to show your insurance company, so you have your contract or bill of sale to show them.
One advantage of installing or replacing the smoke alarms in your house is that doing so can help lower the cost of your homeowner’s insurance. If you have an older house, you could save up to 10 percent a year. You may also get a further discount by putting in additional alarms throughout your house.
A monitored alarm system should be installed in the home if there is not one in place already. Doing this will give you at least a 5% discount from your insurance company, not to mention the added security you will have. You must prove the alarm is monitored centrally to qualify for the discount.
If you need to file a homeowner’s insurance claim, you’ll need to prove your losses. A good way to document your possessions is to take a video while walking through your house, describing the items. Then upload the video to a safe, non-public place online, so it won’t be destroyed if anything happens to your home. Scan receipts for your possessions, too.
It’s not hard at all to find the best possible deals on insurance. You only have to know where to look and how to look. These tips will help you on your quest to find a solid protection package for your home, that doesn’t cost a lot of money. Use this information to save big on your monthly premiums.
Try to find an insurance company that you can use for as much of your insurance needs as possible, in order to reduce your premiums. Many insurance companies offer a discount if you have 2 or more policies with their company. A good example is combining your homeowners and automobile insurance policies.