Saving on Home Insurance

If you are buying a home for the first time or if you have owned for years, you should know your coverage needs for your house. Here a few tips to help you get the right home insurance and still save on it.

Shop Around

Research companies on the internet and request your free home insurance quote from Online Instant Quotes. You can also research the type of policies various companies offer as well, and their feedback and review from current and previous customers. It is important that your insurance provider offer great service, otherwise you may not feel protected.

Insure Wisely

When choosing how much insurance to purchase for your home, it is not necessary to include the value of the land on which your home sits. If you do choose to do so, you will end up paying a higher premium than you really need to, as land is not at risk of theft or really any other peril included in your policy.

Check Your Limits

It is a good idea to check your limits every year so that you can be sure your possessions are covered. As you make new purchases, the limit that you need may increase, so check these every now and then and you should be fine.

Raise Deductibles

The deductible on a typical homeowner’s insurance policy normally starts around $250. If you were to raise that deductible 50%, you could save up to 12% on your rate, or raise it to $1,000 and you could save up to 24%. The prices do depend on each individual insurance company, but either way, you should ensure that you can afford the deductibles you set for yourself.

Danger-Proof Your Home

Installing smoke detector and fire sprinklers inside your home and having fire extinguishers present will not only keep you safer from danger, it will also raise the value of your home and lower your insurance rates by up to 20%. Burglar alarms will also qualify you for up to a 5% discount.

Also, if you smoke, you are considered high‐risk, as smoking is the cause of more than 23, 000 residential fires per year. If none of the resident of your home smokes, however, then your premiums may be reduced, depending on the company.

Also preventing against water dangers, such as ruptured appliance hoses, can cut your insurance costs, so change your hose every two or three years, or purchase flexible, metal hose.

Discounts

Inquire to your home insurance provider about the type of discounts you can receive, as there can be many, depending on your situation. Many companies take up to 15% of your rates if you insure your car or any other insurance as well as your home with that same company. Also, if your home is new, some companies may consider offering you a discount of up to 15%.

Private Insurers

If you are living in an area that is known for its natural disasters, you should inquire about a private insurance policy. In the private market, you may be able to get less expensive insurance