Insurance Tips for Homeowners

Maintain a Security System
If you want to lower your insurance premium but as little as 5% and even more in some cases, get an alarm system that is monitored by a central station.

Install Additional Smoke Alarms
Installing additional smoke alarms will also reduce your insurance premium because it reduces the risk of a fire spreading in your home.

Raise Your Deductible
The higher your deductible, the lower the annual premiums will be. Small fixes usually don’t cost much so they will be absorbed by the homeowner.

Look for Multiple Policy Discounts
You can get more discounts for having multiple insurnace policies for different things like health insurance or auto insurance. This is because they are not responsible for anything.

Plan Ahead for Your Construction
Plan ahead for your construction by buying the materials for what you want because wood framing while being built is more expensive to insure while it is being built because it can be flammable.

Beware of Costly Recreation
Pools and trampolines can be very costly when it comes to insuring a home because they are known to cause injuries because of their nature. Consider all of this before you actually purchase a home if you want to pay more for this insurance wise.

Pay Off Your Mortgage
Your insurance premium will drop because insurance companies feel that if you pay off your mortgage and completely own your home you will take better care of it.

Make Regular Policy Reviews
Review your current policy and compare it to other insurance policies to make sure you are getting the best rate. Sometimes rates drop at other companies and you might just want to take advantage of that.

Guaranteed Replacement Value Insurance
This means that your home will be rebuilt no matter what the cost is during a disaster. This will provide homeowners with a cushion because of the rising cost to build a home

Get an Endorsement
This is an amendment to the basic homeowner’s policy. Let’s say a woman has a diamond ring she wants insured, she would send over the appraised value to her insurance company to make sure she get’s the full amount in case there is any kind of disaster

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