February 12, 2007
3 Tips To Lower Second Home Insurance
By Priya Jestin, Staff Writer
What is costlier than insurance on your residence? Insurance on your second home of course. This is no idle chatter – insurance on your second home costs you more. So, are you prepared to face this hefty bill? If not, here are 3 tips that will help you have enough coverage at a lower rate:
Install an alarm system: You are safe from both fire and burglaries if you install a central fire system. What’s better, it also helps you cut a quick 20% off the top, according to insurance salespeople.
Keep watch: No you don’t need to personally be there. If you’ve purchased your second home in a gated community, expect a discount of at least 10 percent. If your home is in a rural area, and you can provide proof that the local fire department has access to a stream, lake or any other source of water, you can shave off 25% from your insurance rates.
More business = More discounts: Want to reduce your insurance rates on the second home by 10 percent? Try paying a visit to the agent who sold you coverage on your first home. When you insure with the same company, you could get a discount of anything between 5 to 10 percent.
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