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Sep
21

Home Owner’s Insurance Tips You Need Before Choosing Your Policy

Home Owner's Insurance Tips You Need Before Choosing Your Policy

Home Owner’s Insurance Tips You Need Before Choosing Your Policy

It can happen in the blink of an eye. One minute, your house is intact. You look away from the stove for a minute, and something catches on fire. The flames spread, and you are powerless to stop the damage to your home. Are you prepared for this possibility? Learn how to protect yourself against this (and other dangers) with the following advice about homeowners insurance.

Lower your homeowner’s insurance by searching for insurance companies that offer discounts to customers who have multiple policies. Many insurance companies offer discounts of up to ten percent or more, so be sure to shop around until you find the best deal. This can allow you to save on two or more different policy premiums.

There are two things you can do to lower your home insurance premiums. First, put a security system in. You will enjoy a reduction in your insurance premium of about 5% annually thanks to this. However, keep in mind you will have to prove to the insurance company that you indeed have a security system that works. You can also install working smoke alarms. You may realize savings of 10 percent each year in this way.

If you have high-value items, they may not be covered completely by typical homeowner’s insurance. For example, expensive jewelry may need to be appraised, and then the insurer will issue a rider to cover the item in case it’s stolen or damaged. Make sure to mention high-value items to your agent, to make the process of filing a claim easier, should you need to do so.

You can save an annual ten percent on your home owner’s insurance by installing fire alarms throughout your home. Insurance companies often offer great discounts to home owners who’ve installed these important devices. Some companies provide an even bigger discount when homes have many fire alarms.

Keep one or two fire extinguishers in the kitchen and around the house. Depending on your home owner’s insurance provider, having functioning fire extinguishers handy might lower your rates. It is also great to have one handy in the event of a fire. They could end up saving your life.

When doing home renovations, look into how your decisions will affect your insurance premiums. Using high-quality materials can reduce the increase in insurance your addition will bring. Since some materials aren’t as likely to receive damage, the carrier will likely charge less.

If you are purchasing a new home, you should use an escrow account to put one-twelfth of your premiums aside. If the money is already in this account, you will not have to take it out of your monthly budget.

Keep a record somewhere outside the home, like a safe deposit box, of the belongings you have in case something happens. You can take pictures or video of your possessions. You should do this in case something happens to your home and you need your items replaced by the insurance company.

Homeowners insurance can help protect you financially in case an emergency occurs. Like the scenario at the beginning of the article, your house can be damaged in the blink of an eye. Apply the advice in this article to make an informed decision about insurance for your house and property.

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