4 Ways on How to Get the Best Homeowner Insurance Premiums
There certainly are ways to reduce how much you may be paying in homeowner's insurance right now.
If you haven't taken out a policy yet and you own a home, you're taking a big risk - anything can happen and you'd lose your home.
If you haven't bought a home but plan to buy one sometime, keep these tips in mind because they'll help save a chunk.
Homeowner's insurance need not be expensive.
You will be paying it for the entire duration you own the home, and your home's value will not be boosted by taking out a policy with huge premiums - should a loss occur, you will still be compensated as if you were paying smaller premiums.
When we talk about the best premiums, they are not necessarily the lowest, but the ones which when you look at benefits and discounts against premiums have the most value.
Here are 4 tips that guide you on how to get the best homeowner's insurance premiums: 1.
Can you buy a house in a community that has a homeowners association? If you can, you will have already made a big step in saving yourself hefty premiums.
Once you become a member of the association and buy your insurance through it, you will enjoy discounted rates.
The association, because of a bulk premiums purchase, will get low rates for each policy held and this is translated directly to you as the one who owns the home.
2.
Before you buy, make comparisons.
Talk to your relatives, friends and colleagues.
Ask them what their experience has been - who gives the best value.
Ask someone who has owned a home for many years and who you think is adept at property management.
Next, trawl the web.
You will find numerous companies and it may be hard for you to make comparisons, but the good thing is that you start to get a feel of what's out there.
You can keep track by noting on a spreadsheet and later calling the ones which are close to you and seem to be offering low premiums, high discounts and lots of benefits.
3.
Do you know an insurance agent? They always have the inside track of their industry, and if you find one you can trust to give you an unbiased view, pick their minds for what they would do if they were in your shoes.
It pays to ask it like this instead of asking them to recommend something.
They will most likely tell you exactly what they would do, and being insurance agents who know the market pretty well, you might want to take their advice.
The best kind of agent to approach is one who represents several companies - he will have a broader view and you can start making comparisons right off on his recommendations.
4.
It's very likely that by the time you own a home, you have taken out several other policies.
Make sure to hold all your insurance policies in one place, and then ask for a value discount.
They will consider the entire values of all the policies you hold and based on that will give you a discount that spreads through all the policies.
Remember always to ask after the discounts and the benefits - some companies will never extend them until you do.
It's your right, so you should not feel embarrassed.
It's also an extremely competitive business, and many companies are out to retain clients even if they have to bend backwards a bit.
Homeowner's insurance should never cost you too much - you can invest the money you save in improving your home so that you can get even better rates.
If you haven't taken out a policy yet and you own a home, you're taking a big risk - anything can happen and you'd lose your home.
If you haven't bought a home but plan to buy one sometime, keep these tips in mind because they'll help save a chunk.
Homeowner's insurance need not be expensive.
You will be paying it for the entire duration you own the home, and your home's value will not be boosted by taking out a policy with huge premiums - should a loss occur, you will still be compensated as if you were paying smaller premiums.
When we talk about the best premiums, they are not necessarily the lowest, but the ones which when you look at benefits and discounts against premiums have the most value.
Here are 4 tips that guide you on how to get the best homeowner's insurance premiums: 1.
Can you buy a house in a community that has a homeowners association? If you can, you will have already made a big step in saving yourself hefty premiums.
Once you become a member of the association and buy your insurance through it, you will enjoy discounted rates.
The association, because of a bulk premiums purchase, will get low rates for each policy held and this is translated directly to you as the one who owns the home.
2.
Before you buy, make comparisons.
Talk to your relatives, friends and colleagues.
Ask them what their experience has been - who gives the best value.
Ask someone who has owned a home for many years and who you think is adept at property management.
Next, trawl the web.
You will find numerous companies and it may be hard for you to make comparisons, but the good thing is that you start to get a feel of what's out there.
You can keep track by noting on a spreadsheet and later calling the ones which are close to you and seem to be offering low premiums, high discounts and lots of benefits.
3.
Do you know an insurance agent? They always have the inside track of their industry, and if you find one you can trust to give you an unbiased view, pick their minds for what they would do if they were in your shoes.
It pays to ask it like this instead of asking them to recommend something.
They will most likely tell you exactly what they would do, and being insurance agents who know the market pretty well, you might want to take their advice.
The best kind of agent to approach is one who represents several companies - he will have a broader view and you can start making comparisons right off on his recommendations.
4.
It's very likely that by the time you own a home, you have taken out several other policies.
Make sure to hold all your insurance policies in one place, and then ask for a value discount.
They will consider the entire values of all the policies you hold and based on that will give you a discount that spreads through all the policies.
Remember always to ask after the discounts and the benefits - some companies will never extend them until you do.
It's your right, so you should not feel embarrassed.
It's also an extremely competitive business, and many companies are out to retain clients even if they have to bend backwards a bit.
Homeowner's insurance should never cost you too much - you can invest the money you save in improving your home so that you can get even better rates.