Compare Homeowners Insurance Quotes
company to company, therefore, homeowners should shop for insurance the
same way they would shop for any other product. Homeowners should
compare prices, policy coverage and conditions, and even consumer
Look for Multi-Policy Insurance
homeowners insurance will offer consumers discounts for buying more
than one product from them. For example, if your auto insurance company
also sells homeowners insurance, you might get a discount of up to 15%
off your premium for buying both products.
Only Buy the Homeowners Coverage You Need
reevaluate any major purchases and additions. On the other hand, many
of the possessions that homeowners insure depreciate significantly over
the course of a year. Homeowners should update their home inventory,
and reevaluate policy limits for possible savings.
need. For example, if you don't live in a flood-prone area, you may not
need costly flood insurance.
Consider Raising Your Deductible
significant difference to your premium. Most deductibles start at $250,
therefore, if you raise your deductible from that to $1,000, you ay to
save nearly 25% on your premium.
Look For Discounts That May Apply to You
many consumers. For example, even though they seem ordinary, you may be
able get a lower premium if your home has safety features such as
dead-bolt locks, smoke detectors, an alarm system, storm shutters or
fire retardant roofing material.
Other common homeowners insurance discounts include:
structure are likely to be in better shape than those of an older home,
therefore new homes are usually charged lower rates than older homes in
the same price range.
are over 55 and retired, or if they've been a long-term customer.
communities, double locks on both doors, etc. often afford you lower
policy. If you were a smoker when you bought your house, but have
subsequently quit, many insurers may lower your rates. Smoking accounts
for over 20,000 residential fires in the U.S. a year, so insurers often
charge lower premiums to smoke-free households.
Insure Your House, Not the Land Under It
value of the land that their home resides. Remember that you only need
to insure the home itself and your possessions, not the land. Should
something unfortunate occur, the land will most likely remain. If you
do not subtract the value of the land when deciding how much homeowners
insurance to buy, you will most likely pay more than you should.