Homeowners Insurance Companies Can Help You Lower Costs

2007-03-08 10:33:40

( Insurance )



You would want to protect your home from damage or loss caused by unforeseen perils. Buying homeowners insurance from an insurance company is the common means of protecting your home. The insurance coverage can be expensive but there are ways to cut your costs. Due to competition among homeowners insurance companies, your prospective insurer may give you discounts if you qualify for them.

Do shop around. You should check consumer guides, talk with insurance companies, and get online insurance quotes. This gives you an idea of price ranges and tells you which homeowners insurance companies offer the lowest prices.

Consider buying your home and auto policies from the same insurer. There are homeowners insurance companies that are also auto insurance companies, like owners insurance company. Some of these companies will take about one-tenth off your premium if you buy at least two policies from them.

Auto insurance companies, like 21st century insurance company, give you discounts on your car insurance if you install security and safety devices. The same is true in regard to your home. Homeowners insurance companies give you discounts if you install devices like burglar alarms and smoke detectors in your home.

Some companies offer as much as one-fifth premium cut if you install sophisticated sprinkler systems. You can work with your insurance company to find out what system is best, how much it would cost and how much you’d save on insurance premiums.

Your insurance premium is largely influenced by the amount of coverage you want. That amount, in turn, is based on your estimated rebuilding cost for your house. You should not confuse the amount you paid for your home as the rebuilding costs.

Remember that the land under your house is not at risk. You should exclude its value in deciding the amount of homeowners insurance, otherwise your premium will be higher.


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