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For nearly everyone that owns a home, it’s almost a requirement to have home insurance. If you have any kind of mortgage, they’ll insist that you get covered, but even if your home is completely paid for, you’d be negligent to not have insurance on it. There are a lot of ways that you can get discounts, and they can save a good portion of money for you if you can combine several and take advantage of raising deductibles at the same time. Here are some great tips to help you get the best coverage for the least amount of money.
There Are Direct Writer Insurance Companies And Independent Brokers
Some companies have what they call captured agents, their agents can only sell for them, and no other companies. While other insurance agents are called Independent Agents, they can write for a variety of companies, but never for a captured agent company.
The reason I bring that up is that if you want a multiple policy discount from your homeowners insurance company you’ll have to go with one of the direct writer companies, since they cover cars, homes, businesses, life, boats and several other types of insurance. When you get two or more policies in the same household, they’ll give you a discount on all of them.
Another great discount, that only a few companies offer is for the non-smoker. This can be a fairly large discount that is good on both cars and homes. What the company has decided is that people that don’t smoke have far fewer car accidents and home losses as well. It may have to do with the overall attitude of a smoker versus the non-smoker, those that care about their health, drive better and take better care of their homes.
You Can Save A Lot Of Money By Increasing Your Deductables
If you’re like most people you really don’t have many losses on your home policy at all. It’s not like a car that you have to take out on the road, and if you keep it in good repair, don’t live in a storm zone, and have good security, then you might go 15-20 years without a loss. You might consider increasing your deductible to $1,000 or even more and saving money every month on your insurance payment. Keep in mind if something does happen, you’ll be on the hook for the first $1,000 of the loss.
The other side of that argument is that some men are very handy at repairs, and paying contractors to do some kinds of repairs is incredibly expensive. So if a pipe bursts and you have to replace a floor, sheet rock, and some insulation, your insurance company would write you a check for the total cost, minus the deductible, and you’d do the work yourself instead of hiring it done.
Installing A Security System Can Also Reduce Your Payment
In many big cities that have a higher crime rate, there are very few losses, except for theft. A top quality security system doesn’t cost that much money anymore and can be an excellent deterrent to crime. Plus, many of them now can be used to keep an eye on pets, kids, babysitters and security all at once, tied directly into your smart phone.
There are also plenty of options available to keep you aware of people entering your premises like pressure sensitive driveway switches, entrance mats, infrared sensors, garage motion detectors and many other add-ons that can all be monitored by smart phone.
If you haven’t checked lately for a better price on your home insurance, you should give it a try about a month before it expires so that you can have a smooth transfer if you do decide to switch. Always buy from a reputable, well known company and an agent you can trust, so that in the event something does happen, you’re covered like you thought you were.