It does not matter whether you want a homeowners insurance policy for your condo, or for your house, if you neglect comparing different insurance policy deals you will end up paying way more than you should!
Simply put: insurance prices differ drastically from one insurance company to another. So, if you care about getting a cheap home insurance policy you must compare insurance quotes.
Decrease Your Insurance Cost By Comparing Quotes
Opening a good insurance deal comparison website on your browser is the most convenient and quickest way to compare insurance quotes. A good comparison website shows you multiple attractive deals from various reputed providers.
Basically, you need to fill in a simple questionnaire with information regarding your house and your requirements - like the location of your property and your expected deductible amount, and then submit your form.
After your information quickly reaches a handful of different A-list insurance companies, you are provided with personalized quotes.
Having obtained multiple quotes, you can review everything and pick the best deal based on your needs.
Other Tips To Decrease Your Insurance Expense
Apart from performing comparison, you can use a number of other strategies to lower the cost of your homeowners insurance.
You can enhance the amount of deductible for the purpose. Doing so can lower your insurance premium by as high as 35 percent. In some cases, the decrease may reach 40 percent! Another advantage of having a higher deductable is that it forces you to not submit claims for petty reasons, and hence, maintain your policy for many years to come by avoiding sudden termination.
Also, it is a good idea to get as many different kinds of discounts as you can get. You can obtain multiple-policy discount by taking your policy from the same company which covers your car. You can also get security discount by making your house more secure, by installing bolt locks, alarm systems, fire extinguishers, smoke detectors, window locks, and other such features. Plus, almost every insurance provider is ready to provide discount to non-smokers.
Another good discount is senior citizen discount, given to anybody retired, or equal to or above 55 years of age. Some insurers even give you discount for paying annual premiums, instead of quarterly or monthly.
Note that your insurer may not let you know about all the different discounts you can get. So, it is a good idea to ask your agent.
To summarize, by comparing different homeowners insurance deals, you increase your chance of getting a policy that is reliable, but also cheap. If you do not take 20 minutes to compare quotes, you may end up paying hundreds or dollars more every year than you need to.
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