Posts Tagged ‘homeowners insurance premiums’

Practical Homeowners Insurance Tips to Remember

Tuesday, February 9th, 2010

One of the first things you must do when shopping for a home is to shop around for the best homeowner’s insurance rates. Many individuals, excited about the whole home buying process, tend to neglect the important of a comprehensive, affordable homeowner’s insurance policy. However, a homeowner’s insurance policy can be your saving grace should your home become damaged or completely destroyed.

With that said, there are a number of practical tips that all homeowners should remember when it comes to homeowner’s insurance:

  • Always check the company and research the agent’s qualifications before purchasing homeowner’s insurance. Make sure that you understand your agent’s qualifications, and that you have a good rapport with him or her.

  • If homeowner’s insurance rates are too steep for your budget, consider raising your deductible to lower your rates. Also keep in mind, however, that a larger deductible will equate to more out-of-pocket expenses should you need to file a claim.

  • Remind your homeowner’s insurance agent about items that can lower your premiums, including fire extinguishers, deadbolts, smoke detectors and home security systems.

  • Consider updating your home to better withstand weather conditions (and prevent homeowner’s insurance claims); this may include stronger roofing materials, better windows and a newer electrical panel.

  • Ask your homeowners insurance company if they provide automatic payment systems or web payment systems; these will make the process of paying your homeowners insurance easier, and may allow you to receive rate discounts from your homeowner’s insurance company.

  • Make sure you have adequate coverage, including replacement cost value. Make sure your valuables, such as antiques and jewelry, are also covered (these may require a separate policy).

  • Consider video taping your home for home inventory purposes. Walk from room to room, properly recording all furniture, electronics and personal items and store the videotape in a separate, safe location, such as a safety deposit box.

  • Consider purchasing separate insurance, depending on where you live. For example, you may want to purchase flood insurance if you live in a low-lying area, as standard homeowner’s insurance policies typically don’t cover flood claims.

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Increase your Home’s Security and Save

Thursday, November 26th, 2009

How secure is your home? If you don’t have an answer to this question, then it probably isn’t secure enough!

Many times, your homeowner’s insurance premiums can be lowered if you increase your home’s security. Therefore, it only makes sense to increase your home’s security so that you can protect your family and your belongings and, at the same time, lower your homeowner’s insurance premiums.

From deadbolts to security systems, increasing your home’s security is the smart thing to do. Although the exact amount will differ, the fact of the matter is that most - if not all - homeowner’s insurance companies will offer discounts if you increase your home’s security.

Ideas for Increasing your Home’s Security and Safety:

  • Deadbolts - Easy to install and generally inexpensive to purchase, deadbolts are your home’s first line of defense against intruders. It is best to install deadbolts on all of your home’s exterior doors.

  • Motion-Sensing Outdoor Lighting - Motion-sensing outdoor lighting is incredibly practical and can add another layer of security and safety to your home. Consider installing motion-sensing lighting near dark spots around your home and at each point of entry.

  • Carbon monoxide and smoke detectors - Both carbon monoxide and smoke detectors are inexpensive and easy to mount throughout your home, but both could easily save your life. Consider installing a carbon monoxide detector and smoke detector on each floor of your home.

  • Home Security Systems - Having a home security system installed is one great way to add safety and security to your home. It is also a great way to cut your homeowner’s insurance premiums by as much as 20 percent. An installed security system with monitoring service can save you even more.

As you can see, it is not hard to increase your home’s security and safety. Plus, the savings on your homeowner’s insurance premiums often offset the cost of installing security and safety items! Home security should be one of the first things you think about when moving into a new home, and should be revisited at least every year to determine if you, your family and your home is adequately protected.

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