The biggest single investment that most people would be making in their lifetime is in buying their home. Natural disasters and accidents are completely unpredictable. A fire would take just a few minutes to completely destroy your house.
Safeguarding yourself from all sorts of financial losses is smart financial planning. Homeowner’s insurance is not really very expensive and it is very much worth the mental peace one derives knowing that their precious home and all the belongings would be safe and well-protected against any accidental loss.
Basic homeowner’s insurance policies provide personal insurance protections that would be including the losses occurring to the policyholder’s home or to his belongings, liability insurance for any mishaps or accidents taking place on the specific insured property, and loss pertaining to the use of the home, implying additional living expenses.
Here are a few tips to get cheap homeowner’s insurance quotes.
Buy Multiple Policies from the Same Provider
Insurance companies today are waiting for your business and are ready to reward you if you bundle multiple insurance policies. Buying auto insurance and home insurance from the same insurance company could save you at least 30 percent.
Increasingly, today insurance firms are putting life insurance in this magical mix and that implies more money-saving for you if you bundle auto, homeowners, and even life policies together under one single carrier.
It is always a good idea for you to locate insurance companies that have the capacity to cater to all your requirements both from a financial and insurance standpoint. Bundling multiple insurance programs together could mean more money-saving, more consistency in claim handling, and communications.
Install a Cutting-edge Alarm System
Many of you know that burglary systems, fire alarms, and carbon monoxide sensors assist in cutting down homeowners’ insurance premiums.
The discounts could really be greater thanks to the cutting-edge monitoring systems that are available today that are known for reporting to any central location and for alerting first responders.
Insurers would be allowing more discounts simply because the risks would be minimized if your house is constantly being monitored round the clock.
Stay Loyal & Be Faithful to Your Insurance Firm
Insurance companies are aspiring for a long-term association with you. They want you to be their customer for the longest possible time and that is the reason why your continued support and loyalty towards the insurance company could reap rich dividends. Most insurance companies offer some kind of loyalty reward in the form of discounts.
Insurers are known to make lots of money by holding a customer for many years. It is worth giving credit to customers. For some insurers to yield savings, loyalty alone is not the criterion. You would require maintaining a number of policies with the insurance provider and also staying claim-free.
Maintain Good Credit to Impress Your Insurance Company
A really high credit score could be helpful in getting you a wonderful interest rate on a mortgage or even a car loan. It could even fetch you a relatively lower homeowner’s insurance premium. Insurance companies would be examining credit reports for gauging whether a client would be costing them in the future.
As per statistics, people who are having a better credit score would be having fewer claims. Insurers are, therefore, prepared to charge less, provided you have really good credit.
But how do you know what comprises a good credit score? Actually, it varies. Every insurance company would be using its own calculations for determining how much a specific credit score would be impacting premiums.
It is a good idea to shop around and then ask questions. In the case of married couples usually, the insurance company would be identifying the better score and use that credit score to rate your policy.
Conclusion
Use all the above-mentioned measures and get cheaper homeowners insurance quotes. Moreover, if you are living in an area that is prone to earthquakes, hurricanes, and other natural disasters, a little amount of readiness could fetch you an impressive discount on your insurance policy. Savings could actually be fortified if you keep the above points in mind.
Article By: Isabella Rossellinee is an insurance consultant and is attached to a reputed private insurance company. She has been in the home insurance business and is very well-versed with the latest in the field. She suggests her readers check UAE Home Insurance Guide for the latest developments in the insurance sector.
