hoj. Home Insurance. January 01st , 2018.
When shopping online for home insurance providers, it's important to keep a few things in mind so that you won't end up paying more than you can handle for the insurance. Like the amortization of your mortgage, your premiums are ongoing payments, and it's a good idea to get good coverage because there are so many things that can happen to your house, and many of them could be unplanned. Say for example you decided to invest on a particular South Charlotte real estate property after scouting different South Charlotte homes for sale. Imagine if you're not required to get a policy for your new house. In the future, a kitchen fire can derail your monthly budget if it's not covered by insurance. It doesn't make sense to risk losing the house you worked hard to buy just because you didn't prepare for such events. It would even be more painful paying off a mortgage to a house that has already burned down and is not covered by an insurance policy.
When thinking about how you can save money on insurance premiums so that it won't be too much of a financial burden as you pay for your house, there are a few things that come to mind. Here are a few tips that can help you out:
1. Get a discount - If you own a car, you probably already have car insurance. You may also already have life insurance. If that's the case, then it may make more sense getting one for your home from the same company. Most companies will be willing to give discounts if you get multiple policies from them. It's a great way to save some bucks and at the same time, you'll have your coverage under one roof, which makes processing papers in the future a bit easier.
2. Raise your deductibles - You can raise your deductibles to create a considerable savings on your part. It would also be great to have a large deductible so that you won't be using your insurance policy on small claims, avoiding having to pay surcharges for them.
3. Check for things that could give you discounts - When buying a house, check the dead bolts and look into what security updates you can implement in order to make the house safer, such as a security system, smoke alarms, sprinkler systems, and the likes. Companies will usually give discounts for homes that are more secure because they have these systems installed.
4. Make your household a non-smoking one - Thousands of home fires every year are accidentally started by smokers, so it only stands to reason that insurance companies are hoping to minimize their costs by reducing premiums for non-smoking household (and increasing premiums on smoking ones). It would be great if you can think about making this a house rule so that you can save on premiums and at the same time so that you can minimize the risk of losing your house because of unintentional fires caused by cigarettes.
5. Check areas that are low-risk - If you keep getting turned down for coverage, it may mean that the house you want to buy is located in a high-risk area. Consider finding a house that's in a low-risk area where the crime rate is low and the location is near a fire station and a police station.
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