The average home in the United States costs average home in the United States costs $229,000. This is obviously a big financial investment to make.
In addition to that, the average homeowner pays $1,131 per year in homeowner insurance costs, which is a 3.3% increase over last year.
Your home is a major investment, but insuring it doesn’t have to break the bank.
Read on to learn about the steps you can take to obtain affordable homeowners insurance for your home and family’s future.
Below are a list of some steps you can take to get the best price on your homeowners policy.
Insurance costs often come down to risks and rewards. One way to assess an individual’s risk is to pull their credit report.
There are free places, like Credit Karma, that allow you to look at your credit score. If you find errors on your credit report, you can dispute them and work to get them corrected.
You can’t re-write history, but the more claims you file against your insurance, the higher your rates will become. In the future, consider paying for minor claims out of pocket, as this prevents your rates from going up.
If you aren’t sure whether damage repair will cost less than your deductible, call your agent to decide whether you should have your insurance company give you a repair estimate. You don’t want to have record of any loss or damage if you can repair the cost yourself for less expensive than your deductible.
Insurance of any kind is not the fun part of home ownership. However, read your policies carefully and when comparing to make sure they are covering the things that are most important to you.
Consider contacting the best Pasadena independent insurance agent. Independent agents have the ability to shop different insurance companies and help you find the best deal. They are also your direct line to understanding your policy’s coverage.
Large insurance companies have only their own policy options and rates to offer. In addition, several insurance companies only have a toll free number to call, and then you are dealing with online options to get questions answered on the dreaded ‘telephone tree.’ An independent agent may be a better choice for your future.
Insurers will often provide discounts if you bundle all your insurance with them. Be sure to do the math and make sure that you are truly getting cost savings if you switch from other providers. Some providers will show dozens of ‘discounts,’ but their rates are often higher than companies who don’t advertise multiple discounts.
Most companies reward loyalty. Find an agent you trust and stick with them, as they often will offer discounts if you remain a loyal customer. The more you switch your insurance, the less likely you are to receive a loyalty discount.
By the same token, if you do find a significant change in premiums from one year to the next, don’t be afraid to ask your agent about it. Independent agents can shop out your policy to find you a more affordable plan, and some will automatically try and find you more affordable if your premium goes up after a year’s time. Be sure to ask!
There are often discounts for members of the military, teachers, and healthcare providers. Also touch base with your insurance agent when you retire, as most companies give discounts for retirees.
Lastly, check for discounts through all your member organizations. Often times there are discounts for alumni groups, AARP, AAA, rotary clubs, and union memberships.
Compare the savings across a range of deductibles. For example, if you increase your deductible from $500 to $1000, you can save 10-25% off of your premium. The higher the deductible, the bigger the savings.
The safe bet here is to stash that “deductible” money away in an interest-bearing account so that if you do have to pay a large deductible, you have it ready to go.
Insurance companies will offer discounts if you make your home safer because it is effectively reducing the risk if something happens.
If you have recently renovated your home or are planning to renovate, consider the materials you use. They too may provide a discount on your insurance. Be cautious because major renovations can also cause your homeowners insurance to increase.
Before you improve your home, consider how its price compares to others in the area, as that affects insurance rates as well.
Be sure to have an honest conversation with your insurance agent about your situation and the state of your home. There may be other discounts available, but you have to be willing to ask.
Your house is one of your largest assets and you want to make sure it is protected.
We are happy to provide you a quote for affordable homeowners insurance anjd flood insurance. After all, you never know what could happen and being prepared is the smart thing to do.
Our qualified team is here to help you find the right plan for your needs!
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