Lowering Your Home Insurance Premiums through Improved Security

Lower Your Insurance PremiumOne of the things you’ll learn when you go to compare home insurance quotes is that houses that have alarm systems typically pay far less for coverage than houses that don’t. The reasons why are easy to understand. A home that’ll send up flashing lights and screaming bells and make automatic calls of distress to the police is a lot less likely to get burglarized than one that’ll sit silently as it’s being violated.

But not just any old alarm system will do the trick of lowering your monthly fees, as you’ll likely find out when doing an insurance rate comparison online. And there are other things you can do in addition to installing a burglar alarm that will lower your insurance rates.

• Spring for a home security system from a trusted, brand name company.

• Ensure that every single entry point in your home is alarmed, including your garage door. Extending your security system to your garage may also play a factor in lowering your car insurance premiums.

• Replace all of the locks on doors and windows throughout your home, and don’t skimp on cost. The more money you spend on high quality, unbreakable door and window locks, the lower the rate you’ll see reflected when you compare home insurance quotes.

• Talk to the insurance company to ask if they have any preferred security providers. You might discover some additional savings if you go with a home security company that’s endorsed by the home insurance provider of your choice.

Home security’s no place to mess around. If you’re concerned about the safety and well-being of your family and your stuff (as all smart people should be) you’ll consider all anti-theft measures, regardless of how they impact your home insurance premiums.

What’s Up With Texas Homeowner’s Insurance: Keep Premiums Down

Do Keep premiums DownThere are many factors that affect the cost of your home insurance premiums in Texas. Many of these factors can be controlled by you. Below are some easy tips to guide you.

Save some money

1. Owning a breed of dog that is considered vicious. Homeowners liability insurance can be higher because the chance of a dog bite is greater. Spike dog might be cute and be great around you, but not around others.

2. Buying a home in an area that is prone to tornados or hurricanes can really cost Texas home insurance companies and you.

3. Most homeowners, who have filed insurance claims, will see a cost increase. Those who have not, have cheaper premiums.

4. Having high deductibles will keep costs down. If a storm breaks a tree limb, it can cost $250 to get it cut down. If your homeowners premium is $250, than you will not file an insurance claim, which keeps your premiums lowered. If your deduction is $100, than you would file a claim. Insurance is security for major financial losses.

5. Buying a newly built home will lower premiums. There are less major problems with it.

6. Personal property that you own, such as furniture and jewelry, should be insured for the actual cost to replace it, not an inflated value.

7. Homeowners need to protect their credit score. Bad scores can increase your premium. Buying a motorcycle and not making the payments on time, can cost you.

Controlling certain factors will keep Texas home insurance down, with more money in your pocket.

House Paid Off? You Could Qualify for a Major Home Insurance Discount

Major Home Insurance DiscountBefore you compare home insurance quotes any further, first listen to this news flash. Did you know that many home insurance companies offer discounts to customers that aren’t carrying a mortgage? What this means is that if you’ve recently paid off your house and are still paying the same amount of money for your home insurance premiums, you might be paying far too much.

The main reason homeowners who have their houses paid off get home insurance at cheaper rates is because they’re seen as less of a risk when it comes to insurance claims than, say, someone who is upside down in debt.

This nugget of information probably comes as a big surprise to those who haven’t carried a mortgage in years but have been paying the same rates as everyone else. It might even be cause for a bit of justified anger. But is it really the insurance company’s fault? Think about it. Unless you inform your home insurer that you’ve paid off your house, they have no way of knowing.

If anything, this scenario serves as a perfect example of why it’s important to review your home insurance coverage every year, and to take into consideration what are called “major life events”—and if paying off your mortgage isn’t a major life event, then what is?

Even if you’re fully satisfied with your current home insurer, it’s smart to compare home insurance quotes on a regular basis. You don’t have to make this a weekly hobby, but doing so once a year—maybe a month ahead of paying your yearly premiums, for example—is a smart idea.

Rising to the Challenge of Home Ownership

Challenge of HomeownershipBuying a home is a major investment and one of the most exciting things you’ll ever do, but it can also sometimes be a serious drag. As you enter into your home buying experience, you might find yourself overwhelmed at the amount of paperwork and details that are involved—not only from your lender, but from your home insurer as well. All of that is really nothing, however, when compared to the responsibilities that you’ll have to shoulder in your quest to be a responsible homeowner. The first thing to know: home insurance companies and lenders don’t always communicate well with one another. It’s up to you to ensure communication takes place.

In order to do that, you’ll have to take charge of knowing exactly who’s handling what. It’s easy enough for a homeowner to get confused about who’s responsible for paying for home insurance premiums, and when they need to be paid. A lot of times, your home insurance premiums are paid for by your lender—but there are circumstances under which you’ll be responsible for making individual payments to both. If you are uncertain about either one, contact your insurer and your lender to get immediate clarification.

If you’re struggling with it all, take heart. Between mortgage payments and homeowner policies, there’s plenty of room for confusion. But this is no time or place to play dumb and hope things get ironed out on their own. When dealing with home insurance companies and financial lending institutions, it’s critical to stay on top of everything.

Six Ways to Save on Home Insurance

Save on Home InsuranceContrary to what you may have heard, it is possible to save money on your home insurance premiums. By employing a combination of smart shopping and cashing in on certain home insurance discounts, you could stand to save a tidy sum.

  1. Raise your deductible limits. This tactic works across the board with all coverage types, from medical to auto to home insurance. In effect, you pay extra every month (or every quarter, or every year, depending on your payment schedule) for the luxury of not having to pay much out of pocket when it comes time to use your insurance policy. But as long as you have self-discipline and a savings account, you can take the money that you would have been paying out on a higher monthly payment and put it towards an emergency fund to cover your deductible.
  2. Pay your premiums in a single lump sum. Some providers offer home insurance discounts if you pay for your yearly coverage up front, rather than spreading it out in monthly installments. Depending on your insurance provider, you could also save a few extra dollars by scheduling automatic electronic payments.
  3. Buy smart. Keep home insurance premiums front and center to all of your house buying decisions. Don’t be afraid to make your final pick based on which one will cost you less to insure. This is a smart approach. You might not think that you can afford to buy a new home with all new electrical and plumbing, but you could actually end up saving money in the long run when you consider the fact that these added bonuses make your home easier to insure.
  4. Choose your location carefully. Depending on circumstances out of your control, you may not be able to pick and choose what city you’re going to ultimately live in. But if you have the luxury of being able to choose your community, take a serious look into what burglary statistics are and make your decision based on which community will be the safest for you and your possessions. Crime data and other demographic information is carefully considered by insurance companies when setting your home insurance premiums.
  5. Install a burglar alarm system. Having the added security of a burglar alarm not only helps you sleep better at night, but it can also cut down on the cost of your home insurance dramatically. Insurance companies see homes with sophisticated alarm systems as far less likely to be broken into or vandalized, lowering payment risk to replace stolen or damaged property.
  6. Combine your home and auto insurance. If you’ve got a home and a car, it makes no sense to insure them through different providers. Insurance companies offer deep discounts to customers who carry both vehicle and home insurance.