Feb 2, 2013

Getting The Most From Your Home Owner’s Insurance

Obviously, first-time homebuyers are also first-time homeowner insurance buyers. This is why you need the information, more than most, if you’re not privy to how insurance companies operate. This article will shine a light on the many ways that you can find a great policy for an affordable price and keep your home protected.

One advantage of installing or replacing the smoke alarms in your house is that doing so can help lower the cost of your homeowner’s insurance. If you have an older house, you could save up to 10 percent a year. You may also get a further discount by putting in additional alarms throughout your house.

TIP! Keep aside 1/12th of your insurance premium every month. This can help make it easier to pay your premiums each month.

When keeping records of your possessions in case of the need to place a claim, take photographs of any important or big ticket items. The photographs can often be used to prove value, and locate similar items to find out replacement cost. Keep a duplicate copy of the photographs in a safety deposit box at your bank.

Buy all your insurance policies from the same insurance company. By purchasing your home insurance, contents insurance, health insurance, life insurance, dental insurance, travel insurance, flood insurance, pet insurance, mortgage insurance, credit insurance and auto insurance from the same insurance provider, you could be eligible for a large multi-policy discount.

Yearly Premiums

TIP! It is always a wise idea to do a little research into any insurance companies you are thinking about doing business with. Look for clear evidence of financial stability.

Increase the deductible on your home insurance to enjoy lower yearly premiums. While this means you are likely responsible for small claims that cover things such as a broken window or a damaged section of flooring from a broken pipe, these repairs are generally only a few hundred dollars. You will save far more than that on your yearly premiums and come out of the deal with more money in your pocket.

A valuable tip for anyone needing to file a homeowners insurance claim is to keep detailed records of each and every contact made with the insurance company. It is important to keep a log that documents the time, date, and substance of every phone call, email message, or piece of correspondence. It is also wise to confirm in writing any promises received or agreements made during such communication to prevent disputes or misunderstandings during the resolution of the claim.

The homeowners policy covers, among other things, the structure of the property. Check your policy to be sure what is exactly covered. Most policies cover damages from fire, smoke, lightning, and unusual weather. Check your policy for flood coverage. You may need to buy a special endorsement or an entirely different policy for this type of coverage.

TIP! Flood insurance may not be at the forefront of your mind when it comes to insuring your home, but it can be a good idea even if you don’t live in a flood plain. About a quarter of all disaster flood claims are from places that are not in traditional high-risk areas.

Make multiple copies of the photo or video inventory you create for home insurance claims. The best thing to do is take digital files and put them onto multiple CD’s along with a spreadsheet of all the items on the videos, their serial numbers, cost at purchase, and the date you bought them. Leave a copy at a family member’s house for safe keeping.

Be sure to update your policy if you make changes to your property. If you do things such as remove a trampoline or a swimming pool or pay off your mortgage, you will see a decrease in your premium. If you add a security system it will reduce your rates as well.

Every homeowner out there should understand that it’s very important that they have some type of insurance policy covering their home. Homes are simply too large of an investment to remain unprotected. If you can put these tips into action, you can find a great deal on a solid home policy.

We can help you with your Florida home insurance if you need a quote. Just contact us online. If you need home insurance in Florida, we can help.

Questions?We can help you! Call us at (866) 771 4715 or click contact us to the right.

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