How Much will Home Owners Insurance Cost? The Guide to Getting
If you own a home, you must have homeowners
insurance. These rates can vary widely depending on your location,
the size of your home, and the value of your property. How can
you be sure that you are getting the best rate possible? Here are
a few tips to help you get the most bang for your buck.
One thing you can do may seem
a little elementary. Simply shopping around can help you save hundreds
of dollars a year. Get recommendations from your friends and relatives,
especially those who have owned their homes for a number of years.
Check out the websites of the Better Business Bureau and the National
Association of Insurance Commissioners to see what other consumers
have to say about a company.
Consider also the type of service
you would receive if you filed a claim. You want a company who
will respond quickly and thoroughly. Price is a big factor, but
not the only factor.
Another way to save on your home owners insurance is to use the
same company for your home and your vehicles. Many companies will
give you a great price break for multiple policies. Also, ask about
other discounts. Things like having a home security system or simple
dead bolts on your doors can afford you a price break. Some companies
are creative with their discounts. For example, some have a discount
for retirees who stay home. The theory is that these homeowners
are more likely to take care of their home and have fewer break
ins as they are home more often.
Be sure to ask about any and all
discounts that are offered. Small things can add up to big savings!
If you raise your deductible, you can save a significant amount
of money on your premiums. The standard deductible amount is $500.
If you raise your deductible to $1,000, you can save up to 25%
off your yearly premiums. Keep in mind that if you live in an area
that has many of a certain kind of disaster, such as earthquakes,
windstorms, or hurricanes, you may have a separate deductible for
these types of claims.
Be certain that you are insuring your home for the proper amount.
Keep in mind that the cost to rebuild your home is less than the
amount that your property is worth. You will only need to replace
the structure, not the land it sits on. The higher the amount that
your policy is worth, the higher your premiums will be so consider
Because many homeowner insurance providers use your credit score
to determine your premiums, make sure that you keep a good credit
history. Pay your bills on time, keep your credit balances low,
and check your scores a few times a year to make sure all is in
order. Make sure that your insurance provider is using accurate
information so that you get the best rate possible.
These are just a few ways that you can lower your homeowners insurance
premiums. If you are proactive and do a little research, you can
get a fantastic deal on your policy.