Everybody who owns a home needs to insure it. Not every homeowner knows how to get the best policies and the best bargains though. Homeowner’s insurance is such a broad field and the costs are so high, just a little learning can have a very big effect. Here are a few tips to stretch your insurance dollar further.
After purchasing your homeowner’s insurance policy, go around your home and take photographs of your belongings so you have a visual inventory. Store these photos in a fireproof safe or at a relative’s house. These photographs will help the insurance company document your claims, and help you get your money faster.
Inventory your home to ensure your claims go through when necessary. Anyone who has suffered a catastrophic loss will tell you how hard it is to remember everything that was in the house during a time like that. Photos and receipts are the ideal method for informing the company of the included belongings.
One advantage of installing or replacing the smoke alarms in your house is that doing so can help lower the cost of your homeowner’s insurance. If you have an older house, you could save up to 10 percent a year. You may also get a further discount by putting in additional alarms throughout your house.
Flood insurance is an extra insurance type that can truly help those who live in high risk areas. It may add a bit more to your total premium costs, but it can save you from losing everything in case of a flood. High risk areas are flood insurance musts to help you protect your investments.
Turning 55 is a great reminder to start looking for a new home owner’s insurance policy, or reviewing your current policy. A lot of insurance businesses offer senior citizen discounts, and they usually start at age 55. If your insurer does not provide such a discount, do some comparison shopping.
When looking into getting homeowners insurance, it pays to get get Guaranteed Replacement Value insurance. What this means is that in the event that your home has to be rebuilt due to a disaster, the insurance company will pay for the repairs no matter what the cost is. In the long run, this could save you a lot of money.
Find the ratings for the insurance company that you are considering opening a home insurance policy with. You will be able to learn about the billing, claims, customer service and overall satisfaction ratings. Be sure that the ratings that you are getting are coming from independent customer satisfaction surveys.
Homeowner’s insurance is a necessary part of owning a home, even if it’s sometimes expensive. You can offset this expense in different ways. If you raise the policy deductible, your premiums will decrease. Also, a security system or new roof can decrease premiums. Consult your agent for a list of improvements and updates that may save you some money on your homeowner’s policy.
Hopefully these homeowner’s insurance tips have been of some benefit to you. This insurance is for helping you in case of disaster; you want to get the best, most cost-effective coverage you can. If you ever need to make a claim, you will appreciate every bit of time and effort you take to find the best deal on homeowner’s insurance now.