home interior designsHomeowner insurance is not a luxury but a necessity. In fact, most mortgage companies will not make a loan or finance a residential real estate transaction unless the buyer provides proof of coverage of the total value or fair property (mostly is the purchase price). In this article we’ll show you some simple steps you can take to make sure your insurance is sufficient for your needs. (To learn more about insurance, see Understand your insurance contract, Exploring Advanced Insurance Contract Fundamentals and fifteen Insurance Policy You do not need.)

Homeowners’ insurance can be very expensive. Those who live in high risk areas such as near large rivers, fault lines known earthquake zones or other high claims pay the most for coverage. In fact, in high risk areas are often forced to pay annual premiums in thousands of dollars. But even owners of relatively quiet areas of the suburbs (with property values than the national average of $ 210,000) would pay between $ 500 and $ 1000 per year for a basic policy.

In Pictures: 10 Tips for homeowners insurance

The good news is that even if you can not (and should not) avoid buying homeowners’ insurance, there are ways to minimize the cost. (To learn more about the property, see Concepts of tax for the owners, correct it and return: The value of the restructuring and mortgages: How much can you afford?)

Here are six ways to ensure you get the right coverage and the consequent compensation for your home:

1) Maintain a security system and smoke detectors: an alarm system that is controlled by a central station, or is linked directly to a local police station, will help reduce annual premiums that the owner may be 5% or more. To get the discount, the owner generally must provide proof of central monitoring in the form of an invoice or contract the insurance company.

Smoke alarms are another biggie. Although the standard in most modern houses, installing them in older homes may require the owner to 10% or more annual premiums. Of course, more importantly, in case of fire, they could save your life!

2) increasing your deductible: Because health insurance or car insurance, the more free the owner chooses, plus annual bonuses. However, the problem of selecting a high deductible is that small claims or problems such as broken windows or damaged plaster from a leaking pipe, which typically costs a few hundred dollars to fix, will probably absorbed by the owner. (To learn more about franchising, see Shopping For Car Insurance, Fight against the high costs of health care and tax deductions for owners of rental properties.)

3) Look for multiple policy Discounts: Many insurance companies give a discount of 10% or more to their customers as other insurance contracts under the same roof (as the automobile or health insurance) . Consider obtaining a quote for other types of insurance from the same company that provides insurance for your home. You may end up saving on two annual policy premiums.

4) Plan ahead for the construction: If the owner plans to build an addition to the house or other structure adjacent to the house, he or she should review the materials to be used. Generally, wood-frame (because they are highly flammable) will cost less to insure. Conversely, concrete or steel frame will cost less because it is less likely to succumb to fire or adverse weather conditions.

Another thing that most owners are, but often do not consider the insurance costs associated with the construction of a swimming pool. In fact, elements such as pools and / or other potentially harmful devices (like trampolines) can drive annual homeowners’ insurance costs up 10% or more. This may seem like a small price to pay given the joy of these articles provide, but it is something that should be considered by the owner before the purchase or construction.

5) pay off your mortgage: Obviously this is easier said than done, but the owners who pay their mortgage debts will likely see their premiums decline. Why? The reason is simple: the insurance company figures that if you own the house outright, you’ll take better care of it.

6) make periodic reviews and comparisons: Investors should, at least once a year, to compare the costs of other insurance policies to their own. In addition, they should review their existing policy and take note of any changes that might have occurred that could lower their premiums.

For example, perhaps the owner has removed the trampoline, paying the mortgage, has installed an alarm system or install a sophisticated sprinkler system inside his home. If this happens, simply notify the insurance company of the change (s) and provide proofs in the form of photographs and / or revenue insurance could significantly lower.

Look for changes in the neighborhood that could reduce rates as well. For example, installing a fire hydrant within 100 feet of the house or the erection of a fire station near the property may reduce the annual premiums of the owner.



Posted by : admin | on : 07/01/2020 |   in category Interior Design Idea | tags: ,