Good Tips On Shopping For Homeowners Insurance

1. Similar to anything else you will ever buy, insurance policies can be cheaper if you use the same insurer for all your needs. By having one insurer cover all of your possessions and liability needs you could cut your premium costs up to fifteen percent. If you own one or more vehicles, need health and life coverage, too, buying all of your coverage from one source is of benefit to you.
   
   Note: Just make certain that by doing so you are still fully covered to your best advantage. Not all insurers will have policies to suit all of your needs.
   
   
2. Buying insurance is like any other purchase in regard to testing the market place. Look around, check with friends, the local chamber of commerce and better business bureaus. Also check with the consumer protection people about any insurer you may feel inclined to use. The Internet can also be of good use when seeking insurance. Surf around the Internet; educate yourself to the differences in policy types, the companies available and what you get for what you pay. Check the financial standing of those that are publicly listed, be certain they are rock solid and run by people who have a track record. Make a check list of the criteria you wish to fulfill and then compare those that are in the running for you policies.
   
   
3. Before you go and start looking for an insurer, make certain you know exactly what you are looking for relative to your needs. If you have a new or recently built home you will need to insure it for a greater value but in turn you should get better rates because the electrical, heating and air-conditioning systems and plumbing should all be in great shape. These are all serious considerations when insuring a property. You could get as much as a fifteen percent deduction of premium costs for this aspect alone.
   
   The type of dwelling, and its location, will also have a lot of bearing on the insurance cost. If you are in a region with a harsher climate than others, a good solid brick house is the thing to look for. If you are in or near an area prone to earthquakes, do you have a structure that is more resilient to such natural occurrences such as a frame building? By living in an area that is not in a flood zone you can also ask for a deduction that may be as much as three or four hundred dollars.
   
   Do you live near fire and emergency services? This is of value to you if you do. Ask your insurer for a discount relative to this fact. Response time of these services may be on your side in more ways than one. Also, what is the crime and arson rate in your area? Low crime and arson rates always help when getting an insurance premium quotation.
   
   
4. By taking a higher deductible, which is the amount that you must pay
   towards any damage before the insurer gets involved, you can also save considerably. A five hundred dollar deductible could save you around ten or twelve percent while a deductible as high as five-thousand dollars could save you up to 35 or 40 percent.
   
   
5. By installing a burglar alarm system, fire detection and suppression
   equipment, and the latest technology in locks you will also be able to bring down the rates. If you have a pool, and you enclose it with a fence to prevent accidents, this will help in regard to your personal injury liability premium. Is your structure two or more stories high? If so, maybe a fire escape is something you should consider; not only for the deduction it may offer, but for your personal safety as well.
   
   
6. Never make the mistake of including the value of your land in the total value of your property. Your land is not at risk, only the dwelling and its contents.
   
   
7. If you have possessions of extreme value make certain to catalog them all and know that they are covered by your policy. If they are not, you may need to get a rider to your policy for those specific items. (Take pictures of these items and save all the documents and receipts that pertain to the validation of their worth should you need to make a claim for them in the future. After all, that is what insurance is for.) If any of your possessions are appreciating in value do an assessment of them yearly, and then update your policy as needed.
   
   
8. Age has its benefits, are you a senior? If so you are most often able to get a discount up to ten percent.
   
   
9. Insurers know their business quite well and are aware that a good number of claims for fire damage are the result of smoking. If you can prove that you and your family members are not smokers this also is a way to get a deduction. It is similar to being a driver who has no record of violations or accidents.
   
   
10. Some groups and associations offer discounted insurance rates to members. By collectively using one insurer you have buying power that is of great benefit. Check with your alma mater or company and see if they are offering group rates for insurance, you might be pleasantly surprised.
    
    
11. The longer you are with one insurer the more discounts and advantages you will receive. Like any other businesses, insurers like client loyalty, and they will reward you for it.
    
    
12. If something minor happens to your property consider whether or not you wish to make a claim at all. Once you have made a claim you are at risk of having increases to you premium amount. It may be better in the long run to pay the minor costs, and keep your rates at the level they are at now.

     

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