You just made a big purchase, and like all important things, it’s time to make sure it’s protected. By putting in more time at the start choosing a thorough insurance policy, you can save yourself from frustrations down the road should you ever need to use it.
Here are some tips on getting the most out of your homeowner’s insurance.
You can save money on home insurance by lowering the cost of your coverage. Things like a home alarm that is monitored by a central location, can help drop your premium almost as much as 5%. You need to have proof of the alarm to show your insurance company, so you’ll need to save your contract or bill of sale to show them. Many times the discount you get will add up to more than what you pay for the monthly monitoring cost.
When trying to save money on your homeowner’s insurance, you should check out companies that offer multiple-policy discounts, which could be 10 percent or more if you have more than one type of policy with the same company. Examples would be if you had auto or health with a company, and then purchased homeowner’s with the same company.
Look around for companies that offer health insurance, life insurance, and car insurance as well as homeowner’s insurance. Keeping your various insurance policies with one company can give you a discount. It will also be easier to manage your accounts and make payments.
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.
Making too many claims on your homeowners policy can cause you to be ineligible for renewal. Chose the claims that you want to file carefully as it may cause you your policy if you file too many claims in a short period of time. If the cost of damages are close to the cost of your deductible, do not file the claim.
To financially protect yourself, make sure you have adequate liability coverage on your homeowner’s policy. This helps protect against many different important situations. When your daughter accidentally breaks an expensive vase at a neighbor’s home, you’ll be covered.
You’ll need to buy additional insurance if your home is in areas prone to floods and mudslides. Most home insurance policies do not cover floods or mud slides, but you can buy coverage from the government.
It is common for home insurance agents to try and sell you more insurance coverage than is necessary. Many of them work on commission, and will directly benefit from the extras that they sell to you. It’s smart to be prepared with knowledge before beginning the conversation with an agent.
To get you started, we can refer you to someone who can help and get you set up to take care of your greatest investment! Contact us today, we look forward to helping you.