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Affordable Home Insurance – Avoiding Costly Mistakes, Taking Beneficial Steps

You will make your goal of landing an affordable home insurance rate a lot easier if you learn to avoid certain costly mistakes and as well take certain beneficial steps. Here are a few of things to avoid and things to pursue…

1. A house with a swimming pool is something everyone likes having. But as far as your home insurer is concerned it raises a home’s risk and therefore incurs higher premiums.

You can, nevertheless, lower the risk linked with owning a swimming pool by taking steps your agents would recommend.

2. More often than not you may choose to do some kind of renovation on your house. Reducing your rate might not even have crossed your mind. You just want to make your home fit your taste or simply make sure everything works like brand new.

If you do this you’ll qualify for a big discount. Ensure you let your agent know and also ask for his or her recommendations if you intend to get a bigger discount for doing this.

Just like for new homes, a policy holder is very Unlikely to make a claim on a renovated home since most things will be in perfect condition. This means your insurance provider bears a better risk and this results in a lower rate. However, since not all renovations are carried out to the same extent, the discounts offered will also vary.

3. Checking your plumbing is an important step against water damages. Reports show that water damage is the predominant claim on a homeowner’s policy. So, taking steps that reduce your risk of water damage will reduce your home insurance rate. And don’t forget to tell your agent if you upgrade your plumbing.

4. Check an insurance company’s rating and do NOT be deceived by just low premiums. Few things can be more painful than realizing that made payments diligently to the wrong insurer only when you make a claim. It does not take much time to find out from your state’s department of insurance’s website. Check if your preferred insurer is licensed to sell home insurance in your state.

BBB, A.M Best Company, Phelps, Inc., Standard & Poor’s Insurance Rating Services, Moody’s Investor Services, Inc. are resources that you’ll do well to check with before you buy a policy from any insurer.

5. You can get lower rates on home insurance today by visiting a minimum of five quotes sites. Each site will take you around 5 minutes or less to request quotes. (Some people give details that are not really correct about themselves. That isn’t smart since the quotes you’ll get this way will NOT do you any good).

You’ll have to select what represents the best quote for you from the list of quotes received. That’s all there is to it. But you could easily save hundreds of dollars.



Source by Chimezirim Chinecherem Odimba

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