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How to Get Great Home Owners Insurance Rates

Written by Posted On Sunday, 29 March 2015 07:05

 

 Last year in the United States the average cost of an annual home insurance premium was $823.  While that was a decline from 2012 insurance costs it is still a substantial amount of money, particularly if you are also dealing with a mortgage.  This article will share 11 simple tips to help you get cheaper home insurance!

Use the same insurance company for multiple policies

Many companies will offer you a discount if you have multiple policies with them.  Don’t hesitate to ask your insurance company about special rates if you use them for car insurance, home insurance, life insurance and contents insurance. It’s generally a good idea to always get a combined home and contents insurance policy.

In fact, ask for every possible discount!

While asking for a multiple policy discount, why not ask for more discounts?  Some insurance companies offer seniors discounts, no claim discounts, marital status discounts and nonsmoker discounts.  Ask for a list of all discounts they provide and ask if they will match discounts that other insurance companies provide.  If you have been with the company for a number of years, ask them for a loyalty discount.

Check your renewal quote against a new customer quote

Some insurance companies end up taking their existing consumers for granted.  Make sure that they are not offering new customers any discounts on their insurance premium that you are missing out on. If you find that new customers are getting benefits that you are not, contact your insurer immediately and demand the same deal!

Don’t over insure

If you recently bought your home for $250’000, you won’t need that much coverage as it includes the value of the land.  Also make sure you haven’t over insured the contents inside of your home and make certain you keep an eye on the declining value of your assets.  You could potentially reduce the value of your contents policy in line with the reduced value of your assets and save some money.

Home Insurance Premiums in NevadaIncrease your deductible

Perhaps the simplest way to lower your insurance costs, lower your deductible.  That means when you do make a claim your costs will be higher, but for most people a claim on a home and contents is quite rare.
 
Don’t make claims on your insurance for small things

Avoid claiming on small losses.  For example if your house is broken into and your old television that is worth $400 gets stolen, reconsider claiming on it.  For starters, your deductible might be $300 then you have to consider the fact you lose any no claim bonus.  You could be affecting the cost of insurance premiums for the next four or five years by making a claim.

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Review the “extras” attached to your insurance policy

If you have any add-ons with your insurance policy like additional jewelry insurance or accidental damage cover, periodically review them.   If you have decided to sell most of your jewelry or store it in a bank deposit vault, you could save some money on your insurance by skipping jewelry insurance.  If your home is well maintained and unlikely to be damaged by accidents like damage to the mains services, you may not need an add-on like accidental insurance coverage.  

If you once had full accidental damage insurance that included pet damage, but your pet has died, make sire you remove it because these small add-ons all contribute their bit to the cost of the policy.

Install an alarm system and make your home secure

Make sure your home is secure and if possible, install a security alarm.  Your insurance company will give you a discount if you make them aware of the various security measures you have taken.

Maintain a good credit rating

Insurance companies calculate your insurance premiums based on your risk profile.  With home insurance that includes the condition of the home, the location of the home, the crime rate in that area, the type of home and the risk of natural disasters.  Interestingly, many insurance companies also use your credit rating as an indicator of your risk profile, so if you maintain a good credit rating you can save on insurance.

Prepare your home against natural disasters

If you demonstrate to your insurer that your home is fully prepared for natural disasters you can also save on insurance premiums.

Stay at home!

Finally, the last way to save on home insurance is by staying at home.  If you leave your home empty for 4 or more weeks, some insurers will consider that an increased risk for burglary and charge you higher premiums.

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img src="http://ballenvegas.com/wp-content/uploads/2014/05/Lori-Ballen-Yard-Sign.jpg" srcset="http://ballenvegas.com/wp-content/uploads/2014/05/Lori-Ballen-Yard-Sign.jpg 768w, /Lori Ballen is a licensed agent with a real estate team licensed with Keller Williams Realty Las Vegas. When you choose Lori Ballen Team, you get skilled Real estate agents who specialize in particular niches, and geographic locations. Always in the top 1% of Las Vegas production, Lori prides herself on the continuing education and high level training she and the team members receive.

Lori is known in the real estate industry for her digital marketing skills. She’s a top requested trainer who shows real estate agents how to market their seller’s listings for the most exposure which could lead to higher offers. Lori’s specialty is search engine optimization which might be just how you found this website.

You’ll find Lori Ballen Team real estate agents in Las Vegas, Henderson, North Las Vegas, Boulder City, Pahrump, and even in Reno. She’s recently begun working in other markets across the nation helping sellers get their homes sold for the most amount of money possible in the least amount of time possible and with the least amount of inconvenience. The buyer agents who work with Lori love being out and about previewing the latest inventory. They work with you to find a resale or a new home. That’s right. If you are considering new construction, reach out to us first. You can have your own representation and most of the time the builder pays the buyer agent commission so you have no more expense.

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The listing specialists working with Lori know how to sell a property. They will bring all of the necessary data to help you determine what your house might sell for in the current market. No punches are pulled. It’s all in the numbers and then in the marketing for top exposure. That’s what Lori’s team does best.

When you work with Lori Ballen Team at Keller Williams Realty, you won’t feel lost in the shuffle. It’s a team and everyone cares that you reach your goal. Nobody wins if you don’t win, so you are first.

Give us a chance to show you why Lori Ballen Team is the right choice for your real estate needs.

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Address: 9420 W Sahara Ave #100, Las Vegas, NV 89117
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Send us an email at [email protected], or call or text 702-604-7739 to schedule an appointment ot have one of our expert real estate agents about selling your house.

 

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