Buying Homeowner Insurance
When buying a new home you will have to find homeowner insurance.
Homeowner insurance is different than renter's insurance if you have never purchased a home in the past.
There are a number of places to look for homeowner insurance.
The most obvious place to look is the company you currently have your car insurance with.
Almost all car insurance companies offer homeowner insurance along with several other types of casualty insurance.
The good thing to know is that most of these companies also offer a multiple policy discount.
In other words, if you already have a policy of some sort with them you will get an additional discount off of both policies.
Some major companies are stronger than others in certain areas and you may find in some cases that you can find separate auto and homeowner insurance policies for less than the combined price at some insurers.
The only way to get the cheapest homeowner insurance is to get several quotes and compare them.
Your first stop should be your current car insurance company.
Get them to quote your homeowners insurance with and without your auto policy so that you can compare them with other companies' quotes.
You can check out several insurance broker sites that will give you quotes for your property in question.
If you do not own the property yet you should ask the current owner for a copy of their homeowner's insurance so you can compare your quotes to the price they are already getting.
Keep in mind while looking at properties that the newer a property the less expensive the policy will be compared to an older home because of the newer electrical systems and heating systems.
There are a number of factors that you can make changes to in order to help keep your homeowner premiums in line.
Most people do no think about separating the value of the land from your house.
You should only insure your house's replacement value not including the value of the land.
It is in an extremely rare situation where your land could be considered a loss.
Depending on the size of your lot this could be a significant savings.
Deadbolt locks, security systems and smoke alarms usually mean a 5% discount for the presence of each depending on your insurance company.
Check with them to see if the installation of a security system with automatic monitoring qualifies you for any additional discounts.
If you are a smoker, stop.
This alone can save your ten percent on your insurance bill.
If you are a member of a 'retirement' group, ask for senior discounts.
Many companies realize retirees stay home more and as a result are less likely to be burglarized or vandalized.
If you live in an area that is considered high risk (floods, hurricanes, crime, etc.
) always check locally for insurance first before resigning to buying from the state mandated high risk pool insurance.
Finally check your credit scores.
If your scores are not top notch look for companies that do not run credit checks to determine your rates.
Homeowner insurance is different than renter's insurance if you have never purchased a home in the past.
There are a number of places to look for homeowner insurance.
The most obvious place to look is the company you currently have your car insurance with.
Almost all car insurance companies offer homeowner insurance along with several other types of casualty insurance.
The good thing to know is that most of these companies also offer a multiple policy discount.
In other words, if you already have a policy of some sort with them you will get an additional discount off of both policies.
Some major companies are stronger than others in certain areas and you may find in some cases that you can find separate auto and homeowner insurance policies for less than the combined price at some insurers.
The only way to get the cheapest homeowner insurance is to get several quotes and compare them.
Your first stop should be your current car insurance company.
Get them to quote your homeowners insurance with and without your auto policy so that you can compare them with other companies' quotes.
You can check out several insurance broker sites that will give you quotes for your property in question.
If you do not own the property yet you should ask the current owner for a copy of their homeowner's insurance so you can compare your quotes to the price they are already getting.
Keep in mind while looking at properties that the newer a property the less expensive the policy will be compared to an older home because of the newer electrical systems and heating systems.
There are a number of factors that you can make changes to in order to help keep your homeowner premiums in line.
Most people do no think about separating the value of the land from your house.
You should only insure your house's replacement value not including the value of the land.
It is in an extremely rare situation where your land could be considered a loss.
Depending on the size of your lot this could be a significant savings.
Deadbolt locks, security systems and smoke alarms usually mean a 5% discount for the presence of each depending on your insurance company.
Check with them to see if the installation of a security system with automatic monitoring qualifies you for any additional discounts.
If you are a smoker, stop.
This alone can save your ten percent on your insurance bill.
If you are a member of a 'retirement' group, ask for senior discounts.
Many companies realize retirees stay home more and as a result are less likely to be burglarized or vandalized.
If you live in an area that is considered high risk (floods, hurricanes, crime, etc.
) always check locally for insurance first before resigning to buying from the state mandated high risk pool insurance.
Finally check your credit scores.
If your scores are not top notch look for companies that do not run credit checks to determine your rates.
Source...