Insurance companies have infiltrated every aspect of our lives. We are subjected to television ads, radio spots, magazine ads and emails, each of which claims to have the best deal. Use the tips in this article to help you learn the truth about buying homeowner’s insurance, and how to save some money as well! Don’t be victimized by a good campaign– know what you’re signing!
Save money on your homeowner’s insurance by not purchasing items that are potentially injurious. Building a swimming pool or buying a trampoline can raise your annual premium by as much as ten percent or even more. Instead, visit the neighborhood pool or playground and get the same enjoyment for a lower price.
Lower your annual home insurance premiums by raising your deductible. The higher the deductible, the less you pay. Even though you will be stuck with footing the bill for smaller problems you may encounter, it is worth it in the long run. Insurance companies tend to raise a homeowner’s premium after any claim they make, no matter how small.
Check the provisions for “due diligence” on your homeowner’s insurance policy. If you have neglected to keep up with regular home maintenance, your insurance policy may not cover the problems that result from that negligence. Check with your insurance agent about what types of documentation is required to prove you have been doing the maintenance.
Homeowners who pay off their mortgages faster will see less costly insurance sooner. Insurance companies believe that if you own your home outright or have a greater stake in it’s equity, you will be more likely to take good care of it and keep it’s value higher. Try to increase the amount you pay each month to pay it off sooner.
Even the most trusted insurance company wants to max out your coverage. This is how they are able to stay in business. It’s important that you use what you’ve learned here to ensure you know what you’re getting into.