Control Homeowners Insurance Costs Tips & Tricks

Control Homeowners Insurance Costs Tips & Tricks

Learning how to control homeowners insurance costs with tips and tricks can be beneficial to new buyers and homeowners. As homeowners insurance costs continue to rise, homeowners are often looking for ways to keep these out of control costs down. Not having homeowners insurance is not an option for most homeowners, so we continue to pay on overpriced policies each year. Now, with these tips and tricks, you can learn how to control homeowners insurance costs each year with no worries.

Tips to Control Homeowners Insurance Costs:

Location

Your homes location can drive up the price of homeowner’s insurance if you are in a flood prone area. Other factors that affect homeowner’s insurance include earthquake areas where you should have a wood frame home, and high wind areas where you should have a brick or stone home to save on your insurance.

Deductible Increases

Homeowner’s insurance deductibles are going up across the country. Don’t get caught up with a percentage deductible if you can avoid it. There are actually homeowners who own $500,000 home with a 5% deductible that would have them end up paying $25,000.00 if they have property damage. Try to stay with a set deductible.

Pay Attention

Don’t just accept your insurance agent’s word that they are saving you all that is possible. You must look at your policy completely and ask questions. Let them explain each section of the policy. It’s their job and they are getting paid for it, so don’t hesitate to question everything you don’t understand.

Unnecessary Coverage

If you don’t need flood insurance or earthquake coverage, don’t buy it. Don’t add in jewelry or collectibles if they are truly not valuable.

The Roof

If you are looking to buy a home, you should look for a hip roof. The hip roof is one of the most slippery shapes, so in high winds and storms these roofs are not as prone to damage. If you own a home with a hip roof, let your agent know and see if they offer a discount for that.

Combine Policies

Most insurance companies will offer you a discount if you add multiple policies like home and auto. You can then add an umbrella policy for extra protection.

Don’t File

Don’t file a claim unless it is a true emergency. Insurance was meant for emergency purposes only. For example: a tree crashing through your roof, a car driving through your home, a pipe or water heater flooding your home. Insurance is not meant for small projects that are under $1,500. And don’t make multiple claims; they will kick you off their insurance. And you will have trouble getting on with another agency.

These tips to control homeowners insurance costs are brought to you by: Tom and Bev Herring, buying and selling Tulsa Real Estate, Broken Arrow Real Estate, Jenks Real Estate, Bixby Real Estate and Owasso Real Estate as well as Keystone Lake Real Estate, Berryhill and Sand Springs Real Estate.

  Photo Credit: Great Insurance World

Also posted at: http://tomandbev.info/2016/06/01/control-homeowners-insurance-costs-tips-tricks/