Saturday, November 2, 2013
Home Insurance Savings Can Help Homeowners And Renters Stick To Their Budget
A Home Is A Huge Investment You know that your home is probably your largest investment. If you own or rent, your monthly payment to live in that home is probably your largest bill every month. You know you want to protect that home, and the belongings inside of it, but home insurance can also be a major bill every month. If you could trim a little from that bill, then you may have more funds to budget for other things.Deductibles Consider raising your deductible. An insurance policy deductible is the amount that an insured person must pay for damages before the insurance policy kicks in. This is one of the quickest ways to trim your bill. By raising your deductible from $500 to $1,000, you can usually save 20 - 25 percent!Safety Features Many home insurance company will offer discounts for things that you do to make your home more secure. Anti-theft devices can pay for themselves rather quickly, and then you can enjoy savings every month. Some insurance companies will slash 20% from a home insurance bill when a security system is installed. Many companies will install these systems for free, or for very little, when a monthly contract for services is signed.Make Your Home Disaster Resistant Storm shutters, roof reinforcements, and other improvements can help you avoid future insurance claims. Insurance companies like that and some will consider discounts to encourage improvements. New appliances can save energy, as well as keep your home more secure by being less prone to fires.Credit Rating Did you know that many insurance companies consider an insured person's credit rating before they offer a premium rate? While it is always a good idea to have a good credit rating, it will also offer you the best rates.Look for Multiple Policy Discounts Consider using the same insurance company for home and car insurance, or for multiple home insurance policies. Many insurance companies encourage repeat business with discounts for multiple policies!Understand What You Need You will not save money if you do not buy adequate coverage. Homeowners usually need to cover their property and belongings, plus include some liability coverage. On the other hand, renters usually only need to protect their property, and to have some liability insurance, but not cover the building.Shop For Insurance Since so many factors determine insurance rates, it used to be hard to shop for insurance. Many consumers just did not want to bother, since it meant calling around to different insurance companies or agents and giving them the same information over and over. Sometimes consumers just did not want to speak to agents because they were afraid of hard selling. However, that has changed!The internet has given us an easier way to shop for home insurance. Many reliable online quote forms allow a shopper to enter their basic information one time, and then to sit back and let local home insurance companies compete for their business. I suggest looking for an online quoting service that uses third party verification like the Better Business Bureau, and that runs on a secure server.