Long Island home owner’s know you can’t have a mortgage without first securing homeowners insurance during the home buying process. It’s stressful enough purchasing a house, and dealing with closing fees and unexpected expenses, without having to worry about how much homeowners insurance will set you back.
Best ways to l lower your homeowners insurance costs
During the home buying process, every expense starts to add up, so here’s a great list of ways to lower your homeowners insurance bill.
Raise your deductibles
Raising your deductible allows you to lower your premium, because it means you’ll pay more out-of-pocket when it’s time to put a claim through to your insurance company. If you’re able to afford to pay a higher amount of cash towards a loss, it’s the best way to lower your annual premiums.
Bundle your policies
Purchase your car and homeowners insurance from the same company. Work with your insurance agent handling your automobile insurance, and create the best bundled policy package to maximize discounts and pay less for your insurances.
Insure for the correct amount
Don’t base your insurance on market value of your home, but rather on for covering replacement costs so you can make yourself whole again.
Once you’re in your home for a few years, be sure to incorporate some of these ways of lowering your insurance bill.
Reduce your risk of damage
Maintain your roof, and always clear your gutters and drains. It’s a good idea to look UP, and check out tree branches. Trim any that look a little iffy, and close to your home. Keep outdoor stoops, and decks, in good shape to avoid falls on your property.
Improve home safety
Discounts are given to homeowners who install smoke detectors, burglar alarms and even high quality door locks. Definitely chat with your insurance agent to learn about all the discounts associated with making your home a fortress of safety!
Review your policy yearly
When your insurance policy is coming up for renewal, call your agent and walk through your coverage in order to be sure your policy is covering what it needs to cover. Homes lose their value, and sometimes discounts change. Always talk to your agent before renewing blindly.
Take a home inventory of your possessions each year
When the kids were younger, did they have a trampoline in the yard? Well, now it’s gone and your insurance agent needs to know this in order to adjust your homeowners insurance. Your computer died, and you replaced it with a less expensive laptop? Re-do your home inventory list, and send it over to your insurance agent.
Even more important, if you have collected more jewelry over the last year thanks to holiday gift exchanges, it’s important to have the proper insurance beyond just a standard homeowners policy.
Insurance is a necessity for homeowners, but it doesn’t have to completely ruin your budget. Work with your agent to create the best bang for your buck homeowners policy. We’re here to help make sure you’re made whole after something happens, and we want to be sure you’re not paying more for your premium than need be.
Call Tango today and let’s talk!