HouseBuyingTips
© 2010  Janice C. Tatum and Associates, All Rights Reserved     Terms of Service   Privacy Policy
Lower Your Homeowners Insurance The cost of homeowners insurance is rising all the time, thanks to increased flooding, storms, and fires. Here is some more information on how to lower your insurance premium. 1. Shop around It'll take some time, but could save you a good sum of money. Ask your friends, check the Yellow Pages or contact your state insurance department. (Phone numbers and Web sites are on the back page of this brochure.) National Association of Insurance Commissioners (www.naic.org) has information to help you choose an insurer in your state, including complaints. States often make information available on typical rates charged by major insurers and many states provide the frequency of consumer complaints by company. Also check consumer guides, insurance agents, companies and online insurance quote services. This will give you an idea of price ranges and tell you which companies have the lowest prices. But don't consider price alone. The insurer you select should offer a fair price and deliver the quality service you would expect if you needed assistance in filing a claim. So in assessing service quality, use the complaint information cited above and talk to a number of insurers to get a feeling for the type of service they give. Ask them what they would do to lower your costs. Check the financial stability of the companies you are considering with rating companies such as A.M. Best (www.ambest.com) and Standard & Poor’s (www.standardandpoors.com/ ratings) and consult consumer magazines. When you've narrowed the field to three insurers, get price quotes. To get more information on lowering your home insurance premium, click on the button below.

Tips to Lower Your

Homeowners

Insurance Costs

Most lenders refuse to finance a property if the buyer does not make sure that the cost of the property is covered by an insurance policy. That is because homeowner’s insurance is a necessity, not a luxury. However, it is a necessity that is quite expensive. People who purchase a house in an area that is prone to earthquake, flood, or some other risk can inevitably expect to pay a lot in exchange of their insurance. The average property price in the country is currently close to $210,000, and it is not uncommon for people to pay $500 to $1000 yearly just to maintain a basic homeowner’s policy. Fortunately, there are ways or methods using which you can minimize your policy expenses to a large extent. If you have only a vague idea regarding what homeowner’s insurance is, the following tips will help you pick one that fulfills your needs adequately:

Secure your house

Theft and robbery are two of the biggest insurance offenders, and so, insurance companies take them seriously. The good news is, you can avail a discount of 5 percent, or more, by showing proof that your house has a reliable burglar alarm which connects to a central monitoring station, or your nearest police station. Note that in order to successfully avail a discount owing to the presence of security system, you must show proof in the form of a contract, or a bill. Other than burglar alarm, a smoke alarm can help you save about 10 percent or so, too. Most modern houses feature smoke alarms as standard, but if your house does not, you can always install one. Besides, a smoke alarm is not just useful for lowering your policy cost. It can potentially save your very life.

Set your deductible high

You can lower your annual premium amount drastically by choosing a deductible that is somewhat high. But, remember that if you decide to walk this path, you will not be able to file a claim if a small problem, like window breakage or sheetrock damage, occurs. That is, you will have to take care of issues that require you to spend only a hundred dollars, or two, on your own.

Trust a single insurer

Instead of purchasing different insurance policies from different providers, try to pick just one provider for all your needs. If you buy your homeowner’s policy from the very company which provides your health insurance or car insurance, or both, you may secure a good discount. Usually, insurance companies reward loyalty by ensuring at least 10% discount.

Plan for future construction

In case you have a plan to build an adjacent garage or some other structure later, make sure to consider that while taking your policy. Note that, typically, it takes a bigger amount to insure wooden structures compared to steel or cement structures. That is because wood is flammable and is prone to getting damaged due to bad weather, which means that it carries high risk.
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HouseBuyingTips
© 2010  Janice C. Tatum and Associates, All Rights Reserved     Terms of Service   Privacy Policy
Lower Your Homeowners Insurance The cost of homeowners insurance is rising all the time, thanks to increased flooding, storms, and fires. Here is some more information on how to lower your insurance premium. 1. Shop around It'll take some time, but could save you a good sum of money. Ask your friends, check the Yellow Pages or contact your state insurance department. (Phone numbers and Web sites are on the back page of this brochure.) National Association of Insurance Commissioners (www.naic.org) has information to help you choose an insurer in your state, including complaints. States often make information available on typical rates charged by major insurers and many states provide the frequency of consumer complaints by company. Also check consumer guides, insurance agents, companies and online insurance quote services. This will give you an idea of price ranges and tell you which companies have the lowest prices. But don't consider price alone. The insurer you select should offer a fair price and deliver the quality service you would expect if you needed assistance in filing a claim. So in assessing service quality, use the complaint information cited above and talk to a number of insurers to get a feeling for the type of service they give. Ask them what they would do to lower your costs. Check the financial stability of the companies you are considering with rating companies such as A.M. Best (www.ambest.com) and Standard & Poor’s (www.standardandpoors.com/ratings) and consult consumer magazines. When you've narrowed the field to three insurers, get price quotes. To get more information on lowering your home insurance premium, click on the button below.

Tips to Lower

Your

Homeowners

Insurance Costs

Most lenders refuse to finance a property if the buyer does not make sure that the cost of the property is covered by an insurance policy. That is because homeowner’s insurance is a necessity, not a luxury. However, it is a necessity that is quite expensive. People who purchase a house in an area that is prone to earthquake, flood, or some other risk can inevitably expect to pay a lot in exchange of their insurance. The average property price in the country is currently close to $210,000, and it is not uncommon for people to pay $500 to $1000 yearly just to maintain a basic homeowner’s policy. Fortunately, there are ways or methods using which you can minimize your policy expenses to a large extent. If you have only a vague idea regarding what homeowner’s insurance is, the following tips will help you pick one that fulfills your needs adequately:

Secure your house

Theft and robbery are two of the biggest insurance offenders, and so, insurance companies take them seriously. The good news is, you can avail a discount of 5 percent, or more, by showing proof that your house has a reliable burglar alarm which connects to a central monitoring station, or your nearest police station. Note that in order to successfully avail a discount owing to the presence of security system, you must show proof in the form of a contract, or a bill. Other than burglar alarm, a smoke alarm can help you save about 10 percent or so, too. Most modern houses feature smoke alarms as standard, but if your house does not, you can always install one. Besides, a smoke alarm is not just useful for lowering your policy cost. It can potentially save your very life.

Set your deductible high

You can lower your annual premium amount drastically by choosing a deductible that is somewhat high. But, remember that if you decide to walk this path, you will not be able to file a claim if a small problem, like window breakage or sheetrock damage, occurs. That is, you will have to take care of issues that require you to spend only a hundred dollars, or two, on your own.

Trust a single insurer

Instead of purchasing different insurance policies from different providers, try to pick just one provider for all your needs. If you buy your homeowner’s policy from the very company which provides your health insurance or car insurance, or both, you may secure a good discount. Usually, insurance companies reward loyalty by ensuring at least 10% discount.

Plan for future

construction

In case you have a plan to build an adjacent garage or some other structure later, make sure to consider that while taking your policy. Note that, typically, it takes a bigger amount to insure wooden structures compared to steel or cement structures. That is because wood is flammable and is prone to getting damaged due to bad weather, which means that it carries high risk.