Knock 20% or More Off Your Homeowners Insurance without Having to Knock 20% Off Your House
The more your home costs, the more it’s going to cost to insure it. That’s a no brainer. The problem is, not everyone can be content living in a one room shack by the seaside! Most of us like having things like bathrooms and living rooms and electricity (and bedrooms for the children so they have someplace else to go when they’re at each other’s throats!), and that means we need to live somewhere a little more house-like and a little less shack-like.
The good news is, you can still have that three bedroom house you’ve been dreaming about without having to pay a fortune for your homeowners insurance. You just have to know what to do.
If you haven’t already signed on the dotted line, the best thing to do is keep your homeowners insurance premiums in mind when you’re house hunting. Houses in big cities with big earthquakes and big crime rates are going to come with a big insurance bill. Houses in less interesting areas usually cost less to insure, especially if they happen to be located:
a) Near a fire hydrant.
b) In a community with a trained, professional fire and rescue squad.
c) In parts of the country with low crime rates and low risk of natural disaster.
If you’ve already bought your house and are hyperventilating about the fact that there’s really no way to lower the homeowner’s insurance premiums on your Los Angeles condo without knocking half of the building down and building it smaller, relax. There are still ways that you can beat down your insurance premiums without having to call in the wrecking ball. For example:
a) Shop around. Sometimes saving 20% or more on your homeowners insurance premiums is as simple as picking up the phone (or going online) and looking around. Every insurance company makes its own policies when it comes to its premiums, discounts, etc., which means it’s not at all unusual to see two companies with dramatically differing rates.
b) Buy better locks. Most of us give in to the temptation to buy the $10 special off the hardware store shelves, but the truth is that in this case more is definitely NOT less. Better security=fewer thieves=less chance that your insurance provider’s going to have to pay to replace the contents of your living room.
c) Be three steps ahead of nature. Shore up your foundation, be sure that your windows are protected against storms and that your basement and/or ground floor are as flood proof as possible. Nothing wipes a home flat like Mother Nature, which means you need to be ready for anything she decides to throw at you.
d) Buy a fire extinguisher. Seriously. Those little red canisters can be bought for less than
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Homes in colder, northern parts of the country and homes that are rented are more likely to be the victim of a household fire.
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$30 from any hardware store, and they make a great first line of defense against the little fires that life likes to throw your way.
e) Give technology a try. Home security systems, fire alarms that connect directly to the local fire station and all the other fun technology that the experts have out there will go a long way toward lowering the premiums on your homeowners insurance without inconveniencing you to the point where you don’t want to come home at night.
f) Raise your deductibles. If you’re paying more and your insurer is paying less when you file a claim you’re going to be in high cotton when it comes to your insurance premiums. Homeowners insurance premiums can drop 20% or more just by raising your deductibles by $500 or more.
See? That wasn’t so hard, was it? You’ve undoubtedly got better things to do with your money than spend it on your homeowners insurance, so why not start enjoying knocking 20% or more off your annual premiums today?
