Consider These Tips When Shopping for a New Homeowner's Quote
Follow these tips to keep the Prices for Homeowner's Insurance inline.
- Shop around. Always get 3 quotes when you re-quote, start a project, or just shopping.
- Don't consider price alone. The insurance company may go online and see a satellite photo of your home and ad structures without your knowledge. If you don't read the fine print, you could be overcharged.
- Check financial rating of the Insurance company A.M. Best www.AMBest.com and Standard and Poor's www.standardandpoors.com/ratings.
- Lower Deductibles equal higher premiums. When you have a loss you will have to come up with the Deductible first before the insurance kick in. Save money by moving deductible to $1000 or $2500. Ask how much you will save on premiums by raising your deductibles.
- The land and price you paid for your home should not be the amount of coverage. If you have a fire, windstorm, theft – your land will still be there. Earthquake Insurance is a whole different matter.
- Take steps to save from having a disaster. Modernizing your Electronic Appliances, installing storm shutters, energy star products, etc.
- Home security usually gives Homeowners a 5-15% discount.
- Keep your Credit in Good order. Check your credit regularly and pay your bills on time.
- Annually review your Homeowner's Insurance + Get 3 quotes again every year. You never know where you might find a discount.
- If you run a business out of your home, remember that the coverage is only $2,500 unless you add a waiver.
- Check the website www.ca.gov and check if your Insurance Agent is Licensed in your state.