You Can Reduce Your Homeowners’ Insurance Rates
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You most likely shopped around before purchasing your automobile insurance, but consumers don’t always take the same care with their homeowners’ coverage, often assuming they’re all pretty much the same. But not all home insurance is created equal, and there are some definite steps you can take to keep your rates as low as possible.
– Yes, you CAN shop around for homeowners’ insurance, just as you can for your car. You should consider not only price, but also the amount of coverage you will be getting for that price.
If you are new to your state, contact the government’s insurance commissioner and find out which companies operating where you live have a good record and the lowest number of consumer complaints. You may find it to be more cost-effective to go with a knowledgeable insurer based in your state than with a national company.
– Raising your deductible is always a good way to save money, especially if you are not prone to having accidents at home. Keep in mind that many insurance companies operating in natural disaster-prone areas will have separate deductibles for the most likely kinds of damage that may occur in your state: earthquakes, floods, hurricanes, winds, etc. So make sure you double check on this issue.
– If you do live in areas prone to natural disasters, you should make your home as disaster-proof as possible. Not only will taking this step lower your home insurance, it may very well save your family’s life as well: and THAT is priceless.
– You should only include the cost of your house structure when determining how much coverage to get: this could be a substantially lower amount than what you actually paid for your home because the purchase price also included the land it was built on! Find out what the acreage alone is worth, then remove that number from how much insurance you’re asking for. For example, if you paid $300,000 for your house, but the land underneath is worth $50,000, you should only pay for $250,000 worth of coverage.
– Did you know that you can save a substantial amount of money if you buy your car and home insurance from the same company? The principle is a lot like a communications company that offers you lower rates by bundling cable, phone, and internet services. Insurers will often “bundle” your rates if you have more than one kind of coverage with them. However, a lower rate is not guaranteed if you choose to do this: so make sure to double check the math.
If you are an Empire State resident looking for the very best in New York Home Insurance and New York Car Insurance, contact the professionals at Community Brokerage. Art Gib is a freelance writer.
