Home insurance is something that’s risen in price in recent years and a heft annual bill is something that can really be a needless addition. There are plenty of ways to skim some money from your home insurance quote and we’ve got some strategies to help you along the way.
Quote Before Purchase
If you’re buying a new home, we’d advise you to get a quote before you pay as this can save you from having to pay a hefty bill. There are plenty of factors taken into account when insurance is calculated for a home – from proximity to emergency services, to the plumbing and heating systems. Getting a quote now can help you save significantly on the cost of a home insurance premium and means there will be no surprises causing you to sell your house fast.
Often the land is included in the valuation of the home insurance, however there’s not that much that can go wrong with an area of land around a home, especially if it’s fields. When looking for insurance only cover the cost of the house and its contents and avoid insuring the area around it. This can help you save significantly.
Are you a smoker? If you are, then why not quit now to save on home insurance. According to statistics from the US Fire Administration, there were over 14,000 residential fires caused by smoking in 2002. Of course, insurers are going to take account of this and it will be a factor in the price of insurance.
Installing an alarm system can reduce the cost of insurance by up to 10%. It also will save a lot of trouble if the worst should happen
Often choosing one insurer for a number of different sorts of insurance will help reduce costs. Using a single insurer for home, contents, car and other insurance can lower the premium by 10% across all insurances. This can make for a large saving cumulatively.
By raising your deductible premium by a few hundred or even thousand pounds will greatly impact on the cost of the insurance. This can save you as much as a quarter on the cost of insurance – something that greatly lowers cost. However, it also means that you will end up having to take an added risk as if the house is damaged, you will have to pay for the cover up to the amount that is deductible.
The credit score can often be checked when you’re looking for insurance and the better your score, the lower the insurance. In essence, it’s just another reason to try and make an effort to improve your score and stay on top of your credit rating.
Other additions such as extra locks, storm shutters, upgrades to heating and electricity and a range of other additions can impact on the cost of your insurance. Making as many changes as possible to areas that could be of concern to the insurance company is a great way to cut costs.
Cutting insurance costs is easily done and there are numerous ways to do it as you can see from this piece.
Cormac Reynolds is a writer who has worked for a number of real estate businesses in his time. He loves the great outdoors too.