November 13, 2006
Tips To Lower Your Rates
Did you know that the price you pay for your homeowners insurance could vary by hundreds of dollars? Different insurance companies charge differently and that is where the price difference arises. But there are some things you can do to lower your costs. So, before you go out to get yourself a homeowner’s insurance policy, it is best to consider certain things that will help you lower your costs.
- Shop Around: This could take some time, but I’ll guarantee you’ll save a couple of hundred dollars if you shop around for your insurance instead of going in for the first one that comes your way. Ask your friends, check the Yellow Pages or contact your state insurance department. The National Association of Insurance Commissioners (www.naic.org) has information that can help you choose an insurer in your state, including complaints.
- Disaster resistant: One of the simplest things you can do to reduce your insurance cost is to make your home disaster resistant. Find out from your insurance agent or company representative what steps you can take to make your home more resistant to windstorms and other natural disasters. The simple act of adding storm shutters can actually help you save on your premiums!
- Reinforce: Reinforcing your roof or buying stronger roofing materials, also give the same benefits. Older homes can be retrofitted to make them better able to withstand earthquakes. In addition, consider modernizing your heating, plumbing and electrical systems to reduce the risk of fire and water damage.
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