What is the Best Homeowner Insurance Rate? (And How Do You Get
Whether this is your first home or you're an old pro at the real
estate game, you'll find that one thing you simply cannot do without
is good home insurance. Most national statistics place property
damage and theft claims at around 80 percent of all claims payments;
as you can see from this figure, homeowner's insurance can be a
necessity in difficult times in your household's life. The fact
remains, though, that with the wide variety of policies available,
it can be a little overwhelming to get the best rates or even know
whats out there. If you keep in mind the tips below, however, you'll
be able to keep your head above water and see things a bit more
The first thing, and probably the most important one, is shop
around! Insurance companies are businesses like any other and they
do need to stay competitive. Don't be afraid to get quotes from
a number of different agencies and keep in mind that it is very
possible to work with your insurance agency in order to get the
cheapest deal that still meets your needs.
Similarly, know your situation. Be realistic about what you can
and cannot afford and also about what you really need. For instance,
if you believe your home to be relatively sound and don't foresee
much in the way needing insurance in the next few years, consider
a plan with a higher deductible. While you pay more if anything
does happen, having a lower premium can definitely help you save
money that you can put into things like improving your home. Be
risk cognizant! Keep in mind what natural perils you might be facing
and plan accordingly.
Further in the vein of knowing your situation, educate yourself
on what you can do to keep insurance costs low. For instance, if
you have a home security system set up, be sure to let you insurance
company know! This is almost certainly something they will lower
rates for, as your property will be considered less of a risk.
Pools and trampolines are considered to be fairly risky by insurance
companies, but even here you can do things to mitigate your risks.
Also, refer to your state's Department of Insurance. This is a
public works agency that is meant to help the private citizen deal
with insurance and you can use them to ferret out the best deals.
As your state's Department of Insurance will also display complaints
about insurance agencies, you will also be able to find agencies
with a clean record.
Affordable homeowner's insurance that still covers what you need
it to is certainly an attainable goal, and remember that in the
long run, with 96 percent of all homeowners purchasing insurance,
it is a necessity, not a luxury.