5 Excellent Ways to Spend Less Money on Your Homeowners’ Policy

In these difficult economic times, only a few people actually manage to buy the houses that they live in. Those who finally manage to turn their real estate dream into reality want to find the best way to protect their investment. Obviously, a first step in the right direction would be to purchase homeowners’ insurance. Just because a house is brand-new doesn’t mean that it out of harm’s way. Burglary attempts, acts of vandalism, natural disasters and extreme weather conditions are only a few of the most common risk factors that could impact its aesthetics and its structure, forcing you to break the bank to address these serious problems.

Fortunately, an excellent homeowners’ policy safeguarding you from every conceivable threat can guarantee your peace of mind and help you keep hazards at bay. Finding the right type of coverage is not as difficult as it may seem at first, especially if you take the time to compare homeowners’ insurance rates by zip code by surfing the Internet. By going down this path, you will immediately realize that all your alternatives in terms of insurance come with different benefits and different price tags.

Wondering if it would be possible to get your hands on a policy offering the highest level of protection for your property and experience considerable savings at the same time? The answer is yes. Keep reading to discover a 5 effective home insurance buying tips that will give you the chance to minimize risks, avoid huge out-of-pocket expenses and save big on homeowners’ coverage.

1)      Shop Around

This is a very important phase that most potential buyers skip, because they are in a hurry. Take the time you need to analyze different policies. Select the one with the highest number of benefits and the smallest price tag. Be careful though: a cheap policy is not always the most inspired pick. You should focus on finding the best value policy reflecting an ideal price-quality relationship. If you are pleased with the current offer made to you by your insurer who brings you a complete insurance package don’t waste any time looking for a better deal. Most insurance companies appreciate your loyalty and a long-term collaboration with a certain provider will only work to your advantage, enabling you to profit from lower rates.

2)      Turn Your Home into a Disaster-Resistant Fortress

If you work hard to turn your property into a disaster-resistant fortress, your insurer will feel compelled to offer you a great deal, since your house would be less likely to be devastated by adisrupting natural phenomenon. Older homes can and should be retrofitted to be able to withstand powerful storms and earthquakes. You can choose to consolidate your roof or install storm shutters. These simple measures of prevention weigh a great deal in the eyes of your insurer and will get you one step closer to the big discounts that you are hoping to obtain. Also, you may want to inspect your heating and cooling, electrical and plumbing systems and make sure they do not pose any risks. It’s no secret that flaws impacting the functionality of these systems can easily trigger a home fire resulting in severe injuries and extensive property damage.

3)      Raise Your Deductible

The thought that you may have to put a significant amount of money on the table in case of an emergency situation is not very comforting. Even so, raising your deductible would be an effective strategy allowing you to minimize monthly expenses. High deductibles lead to lower premiums, because your insurer takes on fewer risks. If your house were to require capital repairs, you would have to cover a percentage of the overall costs, and your insurer would have to come up with the rest. Assuming that your house in in good condition and couldn’t be wiped off the face of the earth by a moderate storm, you could decide to raise your deductible just to keep your rates low. In this case, remember that no matter how tempting it may be to put your policy to good use, you shouldn’t file small claims for every minor loss that you may report in the future.

4)      Invest in Cost-Effective Home Security Methods

According to recent studies, a burglary takes place every 14 seconds in the U.S. This means that your property could also be targeted by a gang of perpetrators, especially if you didn’t bother to invest in a modern home security system. If you want to spend less money on home insurance, now may be a good time to reconsider; buy and install a security solution tailored to your requirements and financial means. You don’t have to buy gadgets worth thousands of dollars. A fire/burglar alarm and a fully functional sprinkler system is all you need to get a generous discount ranging from 15 to 20% from your insurer.

5)      Find Out If You Are Eligible for Additional Discounts

Do a little research on your own and don’t hesitate to schedule meetings with different insurers and ask them a few additional questions related to the discounts that you may be eligible for. For instance if you are retired and over 55, you may get an extra 10% discount from your insurance company. This actually makes sense, because retired people have more spare time on their hands and they usually tend to keep their properties in excellent condition. Moreover, since they spend most of their time at home, unlike working individuals, they could address different kinds of risks (burglary attempts, floods and fires) in a timely fashion and limit their losses. To make sure that you actually get all the discounts that you are entitled to, discuss your options with different insurers.

Whatever you do, don’t forget to rely on Insurance Quote Depot to compare homeowners’ insurance rates by zip code. With a few clicks, you can analyze accurate info and spot the most appealing policy in your price range. This simple action will enable you to unlock considerable savings and invest in a truly useful personalized policy.