Every home needs insurance to prevent major loss from accidents and natural calamities. Hundreds of homeowners are benefiting from our website by seeking free home insurance quotes. Many are receiving 25-30% discounts on their existing policies while becoming more educated about the home insurance that is right for them. Here are a few tips that might help you when you are shopping for that "perfect" insurance policy.
Increase Your Deductible
Just like auto insurance, policies have deductibles, and the same rule of thumb applies--carry the highest deductible you can afford. The higher your deductible, the more premium credit you can expect to receive from your insurance company.
Improve Your Home Security
Most insurance companies offer discounts for smoke detectors, burglar alarms, dead bolts, fire extinguishers, and Neighborhood Watch Areas. Homes with a fire and burglar alarm system hooked up to a third-party monitoring company receive higher discounts than homes with local bell alarms.
Insuring two or more vehicles with the same insurance company can save you 10-15% on your premiums. If you cover your homeowners insurance and auto insurance together, you can reduce your premiums by another 10-15%.
Before buying a home, consider its construction type, such as frame or concrete block and steel (CBS). A wood frame house typically costs more to insure than one built mostly of concrete.
Verify Distance To Fire Stations And Windstorm Areas
If you live in the suburbs or a rural area, you'll probably pay higher rates for your insurance than if you lived inside the city. Why? Itís because of the longer distance to your local fire station. If you live more than 5 km from the nearest fire station, you will most likely pay a higher premium.
Before purchasing your home, you may want to get a quote for both and flood insurance. Insurance companies may not offer you windstorm or flood coverage, depending upon the area in which you live. If your home is in a hurricane prone area and your insurance company offers windstorm coverage, then installing approved hurricane shutters should result in a premium discount.
Claims Free Record And Renewal Discounts
If you have not had a claim under your policy during the past 3 to 5 consecutive years, you could receive up to 15% discount, depending on the insurance company. Plus, most companies will discount your premium if your policy has been in force for 3 straight years.
Mortgage Free Discounts
Some insurance companies target who have paid off their mortgage and offer them premium discounts of up to 5%.
New And Renovated Home Discounts
A majority of insurance companies offer a discount for new homes, and you may qualify if your home was built in the last 10 - 15 years. Also, a recently renovated home costs less to insure, so find out when the last major electrical, heating and plumbing update was completed on the home.
Live-In House Keeper
Some insurers offer up to a 2% premium credit if you have a live-in employee as they feel it could reduce the likelihood of burglary.
After reviewing the foregoing savings tips, you may think that if you added up all your credits you could receive over 70% reduction in your premiums. Unfortunately, it does not work that way. Certain safety or other measures you take may qualify you for being placed with the "preferred" company of a particular insurance group. This "preferred" company will be able to give you more premium credits than a standard company is able to.
We can help you. You can buy insurance policies offered by insurance companies in India through our website, while receiving very competitive quotes from qualified and IRDA registered Insurance Agents.
If you want to buy a Home Insurance Policy or if you want to switch to a cheaper policy, submit your inquiry.