SAVE Money on Home Insurance. Follow these 9 Rules.
1. Shop Around for Home Insurance
Shop around, it will take time now but save you money later and ongoing. Ask your friends about their insurance experiences and expenses. Some may have done the homework for you.
2. Get many different Home Insurance Quotes
Get as many quotes as you can. Then compare and save.
3. Get Quality Service
Besides the price also consider other factors such as quality service when it comes to claims and the willingness to pay out.
4. Ask for Discount on your Home Insurance
Speak to various insurers and ask them what they would do to lower your premiums.
5. Excess Payment on Home Insurance
Raise the excess payment to reduce your premium. Be sure to always keep the selected amount of the excess in your savings account for when you need to make a payment.
6. Property Insurance Pointers
Don’t make the mistake to use the full purchase price of your property as the insured amount. Take into account that the land under you is not at risk from theft, windstorm, fire etc. If you include land value you are paying more than you should.
7. Consolidate your Insurance policies
It is always wise to use one insurer. If at all possible consolidate all your policies to one company, as you could save on all your premiums this way. Be sure to make sure that you will in fact save and bargain with the insurer if possible. At least ask, it costs nothing.
8. Added Safety Measures
Make your home resistant to damage and disasters. Your insurance agent must be able to give you advice and pointers. You could save on premiums by adding storm shutters, reinforcing your roof. It is only logic that when you live in a windy area to secure your fascias and gutters. Modernize your heating, plumbing and electrical systems to reduce the risk of fire and water damage. Even if you don’t save on premiums, you will not have to fork out excess payments or cover small damages from your own account.
9. Added Security Measures
Fit a smoke detector, burglar alarm or dead-bolt locks to your home. Some companies offer discounts if you install a sprinkler system and a fire and burglar alarm that rings at the police or monitoring stations. Please be sure which system will qualify a discount and what kind your insurer recommends. Compare the price of a device and the saving on a premium before you install.
Ref.:www.publications.usa.gov