Thanks to online insurance quotes, reducing home insurance rates has never been easier, but with a bit of planning and preparation, it is often possible to save even more time and money. Create a quick checklist when shopping for homeowners insurance.
Research the Company: Real estate is typically the single largest investment most people will ever make, so it’s especially important to verify the credit rating and customer service of the insurance underwriter. In recent years, several insurance companies have faced credit problems of their own due to bad investments in derivatives, mutual funds and other securities; don’t allow their problem to become your problem. Insist upon a solid company that will be there when you need them. Research the Location and Specifications: Depending upon your state and local area, insurance rates may vary dramatically or even be impossible to obtain for certain types of policies or high risk homes. For instance, after the much publicized pull-out by State Farm Insurance, those trying to insure a Florida home have frequently encountered difficulty once other underwriters met their quota for each area. Other homeowners encountered difficulty due to the type of structure or location such as beach front or mobile homes. Use of an online insurance quote system or broker can make sure you are able to find all available providers and the best prices without spending hours or even days on the phone. Start Early: Don’t wait until the last minute to research insurance rates and never allow your policy to lapse. Instead, make it a priority to review your current policy, deductibles and premium then compare prices. Once you decide on the best option, simply make the effective date correspond to the end of your existing policy. Remember to obtain a free copy of your credit report each year and make any needed corrections to help save money on your homeowners insurance rates. It’s also a good idea to inform your existing homeowners insurance company about any major lifestyle changes that might impact your policy; common examples include change of marital status, major repairs or renovations to the home or the addition of a pet. Be sure to use the same information when obtaining home insurance quotes from other companies to have a fair comparison between rates. Invest in Improvements: A few small improvements can add up to big savings when it comes to homeowners insurance. For example, adding deadbolts, fire extinguishers or other inexpensive protections is a great way to keep your family safe while saving money on your home insurance. It’s also important to properly maintain your property by trimming trees, picking up toys and reducing the risk of accidental injuries that might take place.