#cheap home insurance
How To Get A Cheap Home Insurance Policy
by Silicon Valley Blogger on 2009-12-01 12
More tips on how to cut insurance premiums in half.
Once you ve become a homeowner, you re ready to budget for many expenses, including an all-important one: your homeowner s (or home insurance) policy. Here are a few tips to think about before you get that insurance policy:
Reminder: Why You Need Homeowners Insurance
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You definitely need the insurance. Thanks for all those ways to save money on it.
Nice overview. Also: sometimes you can negotiate a deal if you take out all of your insurance policies with the same provider.
Goran Web Design December 3, 2009 at 4:03 am
Those pics are funny! Just what were they trying to do there? Isn t the contractor liable in this instance? One would usually find that the c0ntractors insurance will cover something like this, or am I wrong?
Having been through a total loss due to fire, I can tell you that you should NEVER try to reduce your costs by buying the wrong (cheaper) coverage options. When you have a major casualty, making sure you have the right coverage is all that matters. Of course, most people won t experience a total loss like we did, so making the premiums affordable is certainly important.
The best way to do this is through a higher deductible. If you want less expensive coverage, get as high a deductible as you have cash available to cover. Beyond this, keeping multiple lines of insurance (auto, home, etc.) with a single company will be the next best way to save. NEVER try to save money on insurance by reducing necessary coverages. Sure, skip some of the bells and whistles that don t really add value, but max it out where it counts.
Also, homeowners policies are relatively standardized in their basic specifications. An HO-5 policy is the way to go. This way, when you do have a major problem, you won t have to figure out what s covered. An HO-5 policy states specifically what isn t covered a big deal when it comes to determining whether or not you re covered.
Jim Gronigner December 15, 2009 at 12:32 pm
Great photos, really tells the story .
Nathan Anderson March 5, 2010 at 1:17 pm
Well, you never know when your house needs the insurance. Better prepare for the worst.
Some nice tips here. It s worth thinking about #6 though in some cases you ll get discounts by buying multiple products with one company, but in others, your overall bill will be lowest by shopping around a little. Makes managing your bills a bit more complex, but worth it IMO.
Susanna May 17, 2010 at 6:23 am
This is a good read, thank you for sharing. Every time I see pictures like that, I cringe while imagining the people effected by accidents like that, and the possibility that their lives could be completely ruined (at least in the short term) if they don t have insurance.
Michael Peel June 16, 2010 at 1:31 pm
One of the best methods I have found to lower your home insurance is to raise your deductible. This can be stressful for some but you need to look at it over the long haul. You need to factor in how many times you may need your insurance (can be difficult to determine), how much money you generally have each month and what amount you would like to pay each month for your premium.
I find that most people are surprised to realize how much the monthly premium can go down by simply increasing the deductible by $300, $500 or even $1,000.
For some, this may be the only option they have to reduce their annual premiums and it should be a avenue they look into.
Judah Han June 17, 2010 at 1:29 pm
The pictures say it all!
While some say it is foolish to have home insurance, I think it is foolish not to. There are too many things out of your control that can happen to your home. Not convinced, think about your neighbors and how they could set you house ablaze, flood it, or damage it with some crazy construction project.
Don t make the mistake too many people do.
Silicon Valley Blogger August 9, 2011 at 1:23 pm