Friday, February 20, 2015

Insurance Tips for First Time Homeowners

So, you’ve bought your first home! Congratulations are definitely in order. However, aside from the fun and excitement of being in your new home, there are also responsibilities to think about, such as homeowner’s insurance. This very necessary type of insurance can get quite pricey, but it’s something you have to have. Therefore, the best thing you can do is to educate yourself on the many ways to cut costs, without sacrificing coverage. To get you started, here are some super helpful, money-saving tips to try.

Protect Your Home

Obviously, you’ll want to protect your brand new investment, your family, and all of your  
belongings. The good news is that it’s easier to do that today than ever before. Invest in a good security system, one that is tied to a central station that can alert police for you if your home’s security is breached. Also, make it a point to have a reliable smoke alarm installed in your home. Not only will these extras keep your home safer, but most insurers will give you a hefty discount for having these protective features in your home.

Double Your Deductible

If the original price quote for a particular policy is too high, don’t panic. There are always ways to lower your premium, and one of the simplest ways is to increase your deductible amount. Do bear in mind, however, that with a higher deductible, you will likely be responsible for smaller, less costly repairs. However, you’ll typically spend a lot less taking care of these smaller issues when they happen to crop up than you would paying a high premium regularly.

Take Advantage of Other Offerings

Most home insurance providers also offer other types of insurance, such as car insurance or health insurance. And, because these providers like to say “thanks” to their loyal customers, they’ll often provide a nice discount to those who hold more than one type of policy with the company. Thus, not only will you save money if you open multiple policies with the same insurer, but you’ll also enjoy the convenience of having just one insurance company to deal with.

As you can see, there are many easy ways to save money on your home insurance costs. Talk to your insurance provider about other money saving options. You never want to sacrifice necessary coverage just to get a good cost, however, so only cut corners in ways that still leave your home fully protected.

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