Once you become the proud owner of a nice house or apartment, one thing you'd wish someone would have told you before putting your signature on the contract is the head-spinning amount of bills you will need to pay. Besides your mortgage and utilities, you are most likely dealing with periodical repairs and maintenance that also cost money. But what about that dreadful homeowners insurance? Wouldn't it be nice to somehow skip it or at least lower it? The bad news is that you cannot completely eliminate it from your life for many obvious reasons we are not going to discuss here. The good news is that there are efficient ways of lowering an insurance premium for homeowners, and we are going to tell you about a few of them within these next few lines.
Smart Strategies To Cut Your Homeowners Insurance Premium
Wouldn’t it be nice to figure out how to not only lower you insurance premium for your home, but also turn it into a better protected fortress against potential thieves? Well, there is! If this is your first time buying a home, your lender will most likely ask you to take out a homeowners insurance policy for sum of money you have paid for the property. The policy should be issued for the market value of the home, but there are various types of issue that may rise here. And most people end up paying the incorrect amount on their insurance policy – more than they should be paying to begin with. We welcome you to get in touch with us and let us determine what is the correct amount you should be paying to cover your homeowners insurance policy.
If you are not satisfied with the amount and you would like to lower it even more, here is what you can do:
- Do not make small claims. When dealing with small damages around the house, see if you can take care of them yourself, or call professional handymen in town. This will only make your premium go up, even if you decide to change companies – your history of claims will be transferred to the new insurer, and they will definitely increase your premium.
- Try to call emergency locksmiths when dealing with broken locks on the doors or leaking pipes in the bathroom. While you are at it, ask for a full assessment of your locks/pipes around the house. Find out if you can still rely on them, or if they need replacing or repairs.
- The sturdier your locks on the main entryways/windows, the greater the discount you may be able to obtain for your insurance premium. If you have bought an old home, try to update its locks and alarm system – or install one in the first place. Most burglars will have no problem getting into a home with old and rusty locks, or locks that are eay to pick with simple tools. Have a professional home locksmith install deadbolt locks or smart, electronic locks on your entryways. Opt for storm shutters and storms and a good home alarm system.
- Keep all the receipts, as the insurance provider may need proof of the professional work you have done on the house.