3 Tips To Ensure That You Get The Best Rate On Your Homeowners Insurance
Posted on: 22 January 2016
Homeowners insurance provides invaluable protection in the case that your home or the belongings inside are damaged or destroyed. But since filing a homeowners insurance claim is not something that happens often for most people, it is natural to want to keep the insurance premiums as low as possible. Get the best deal on homeowners insurance by using the following tips:
Make Sure You Purchase the Right Amount of Insurance
A lot of homeowners end up paying too much for their homeowners insurance because they purchase a policy that is more than they really need. A common issue is the fact that people confuse their home value with how much it would cost to rebuild and replace all belongings if the home is a total loss. There is no reason to purchase an insurance policy that covers your home value and the value of your belongings-- home values also include the land the home is built on, but if you have to rebuild your house you will not need to pay for the land. When buying a homeowners insurance policy, make sure you are basing the amount according to the actual cost to rebuild.
Make Improvements that Lower the Risk of Insuring Your Home
Insurance rates are typically calculated according to how much of a risk a home is. There are several things that you can do to make your house safer, which can result in lower homeowners insurance rates. Consider installing an monitored security system, fire sprinklers, and extra smoke and carbon monoxide detectors. You may also want to think about updating your pluming or electrical system if you live in an old house-- doing so will reduce the risk of a pipe bursting and damaging your home or an electrical fire breaking out. Insurance companies often offer discounts on homeowners insurance rates when homes have these improvements, so make sure that you talk to an insurance company, likeRobbins Insurance & Financial Services Inc., after making any changes that make your home safer.
Bundle All of Your Insurance Policies
Most homeowners hold several insurance policies, such as auto insurance, life insurance, and homeowners insurance. If you have three insurance policies with three different insurance companies, you may be missing out on valuable discounts. Insurance companies often reward customers who hold multiple policies with them, so if you want to save money it is a good idea to transfer all of your policies to one company. Before making any changes, contact the insurance companies that you have policies with and see which one will offer the best deal for bundling multiple insurance policies.
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