How to Acquire the Best Deal on Homeowners Insurance
Homes are the most valuable thing you may own. Insurance protects the value of the building, including modifications, as well as our personal items. When shopping for the best homeowners insurance deal, use the following tips to make your journey more efficient. Ideally, you’ll find an insurer that gives you customized options.
Search for the Best Deal
You’ll need to compare various insurance policies and weigh the pros and cons of different insurance companies or find someone who can do it for you. Comparing prices is simplified when using a site that gives you user-friendly tools that make comparison easy in one place.
Boost Your Deductible
Raising your deductible will lower your monthly insurance premiums. You’ll be paying more out-of-pocket expenses if you file a claim, but if you never file a claim, increasing your deductible becomes the more cost-efficient solution. In this scenario, you can build an emergency fund in the process with your savings. Doubling your deductible can equate to cutting your monthly costs by 25 percent.
Search for Discounts on Multiple Policies
Another way to get the best homeowners insurance deal is to find an insurer that bundles policies together. Such insurers offer discounts for bundling different policies as a turnkey insurance solution. An example would be using the same insurance agency for home, auto, and health coverage.
Know What You Are Going to Cover
You may not need to insure your home for the amount you paid for it since the price included the land and the structure. Your coverage limits should reflect the amount it costs to rebuild your home if it’s ever destroyed in a disaster such as a fire or a storm. Just make sure you’re not under-insured.
Learn about Your Agent
It’s a good idea to establish a good relationship with your insurance agent so that he or she prioritizes you when messages stack up. You may deal with different agents over time, but they’ll all access the same information about you from your insurance history. Staying in touch with the agency gives you the advantage of learning about discounts most customers don’t find out about.
Inquire about Discounts
Insurance companies don’t typically publicize discounts but offer them under certain conditions for those who inquire. Some agencies give discounts on home insurance if the owner invests in a smoke alarm or sprinkler system. A burglar alarm also lowers risks, so it can reduce your home insurance costs as well. Other ways to get home insurance discounts are to insist on a non-smoking home and limit the number of claims you file. Older adults who avoid high-risk activities may also get discounts.
Give Importance to Your Possessions
While cutting costs is important, so is protecting the value of your possessions. Anything you’ve invested good money in should be covered. The insurer can replace much of your home’s contents if you ever face a catastrophic event. Certain items such as jewelry and computers may require extra special coverage since a standard homeowners insurance policy doesn’t cover everything.
Maintain a Solid Credit Score
Maintaining a good or better credit score helps lower your insurance costs. Insurers are particularly concerned that you make full payments on time. Low credit scores indicate the risk of the insurer not getting paid. Insurers tend to either deny such applicants or offer policies at higher rates. Meanwhile, solid credit scores help lower rates.
Contact us at Jack Stone Insurance Agency for more information about how to get the best deal on homeowners insurance. We can answer your questions and customize your policy to meet your special needs.
