Owning a home is an achievement. It marks the culmination of a long time of saving, working hard, and sacrificing things that you find joy in. Hence, it’s important for you as a homeowner to do things to ensure that it’s protected from damage.
Home insurance is highly recommended for all homeowners. Basically, it covers the damage caused to the property of the insured, at a minimum his house and what it shelters as part of his living space.
Why is home insurance important?
Although it is fortunately not an everyday case, we all can still be victims of catastrophe at any time. Buying home insurance protects individuals from a huge number of risks. The insured is protected from damage in which he is the victim. The coverage takes into account all the property of the insured, from the building to the furniture and personal objects that are inside the home. While it’s true that some home insurance policies can be very expensive, there are things you can do as a homeowner to bring down the cost while keeping your house safe. Here are a few tips to help you save money on your very first home insurance policy.
Maintain a security system
The idiom “walls have eyes and ears” should be quite helpful when you’re setting up your modern home. Maintaining a closed-circuit security system is not only beneficial for your security; connecting it with the local police and fire stations can also lower your annual insurance premiums by 5% or more. Imagine that! Sprinkler systems, deadbolt locks, and CO2 detectors can also help you by keeping your home secure,and they also help reduce your home insurance premium. Sprinklers, for example, can knock off a few dollars from your already affordable fire insurance premium.
Know your home
When you know what your home is made of, you can definitely adjust your insurance policy to match. Houses made of highly flammable light materials like wood are difficult and expensive to insure. However, those made of stronger and more durable materials like cement and metal are not. After all, these materials are difficult to burn; they can even stop the spread of flames. The general rule is simple: the more durable your house is, the cheaper your insurance and the longer it’ll last. Also, it is wise to watch out for additions to your home that are potentially hazardous such as a pool, since it may drive up your insurance policy costs by up to 10%.
Ask your friends
It never hurts to ask for a better deal. It is even better to ask and compare insurance policies of five to ten different providers. Looking at Allstate home insurance policy is a good way to benchmark what other providers are offering. Every policy is different, so it’s important for you to really read what’s covered and what’s not. Then there is the issue of price. What might be cheap in one state might be the most expensive in the next. Try asking your friends about the insurance policies for their own homes and try to compare that with the options you have available.
Keep it neat during inspection
Most providers conduct visual inspections of a property before they approve insurance applications. Before you let someone in to check your house, make sure that everything is securely fastened and that there are no falling objects. Also, see to it that there is no visible damage from the elements. Be mindful of free-flowing water as well, as these things can very well drive up your insurance policy premium.
Having your home insured is important, but many shy from it because of the cost. Good thing there are ways to reduce your premiums, so you can rest easy knowing your house — and everything in it — is protected.