Important Homeowners Insurance Tips
May 28, 2009 by Stacy42 · Leave a Comment
Higher Deductibles Equals A Lower Payment
Similar to auto insurance, home owner insurance policies have deductibles, and the same rule of thumb applies, carry the most expensive deductible you can afford. The higher your deductible, the more premium credit you can expect to receive from your home owner insurance company. Your savings has the potential to reach 25% by increasing the deductible from $100 to $3000.
Improve The Security of your Home
Practically every insurance homeowners companies offer rate reductions for smoke detectors, burglar alarms, dead bolts, fire extinguishers, and Neighborhood Watch Areas. Houses with a fire and burglar alarm system hooked up to a third-party monitoring company receive greater savings than homes without.
Consolidate Policies
Insuring two cars on one policy with the same insurance company can save you on your premiums. If you cover your car insurance and your home owners insurance together, you can lower your premiums by another 10% to 15%.
Verify Distance To Fire Stations And Windstorm Areas
If you reside outside the city, youll pay higher for your home owner insurance than if you lived in city limits. Why? Its because of the further distance to your local fire hall. If you live more than a few miles from the nearest fire station, and more than 1,000 feet from a fire hydrant, you will more than likely pay a higher premium.
If you have not made a claim under your policy during the past three to five consecutive years, you could be eligible to receive up to a 15% discount, depending on the homeowners insurance company. Plus, most companies will discount your premium if your policy has been in force for three straight years.
Mortgage Free Savings
Frequently insurance companies target those who have no mortgage and offer those home owners premium discounts of up to 10%.
Discounts for New and Renovated Homes
Most insurance companies offer a discount for new homes, and you can qualify if your home was built in the last years. Also, a renovated home costs less to insure, so find out when the last major electrical, heating and plumbing update was completed on the home.
The easiest way to know if you are receiving the best rates possible on your home insurance is to go online and compare rates. Even if your home is mobile, you can compare and receive a very competitive RV insurance quote online and know that you are paying the lowest rates possible no matter what type of home you are insuring.