Some people think homeowner’s insurance is a luxury -; but in reality, it is a necessity. Most mortgage lenders won’t finance a transaction until the buyer offers proof of fair value or full coverage for the property. Here, you will learn the steps to take to ensure that you have enough Homeowner’s Insurance for the years ahead.
Maintain your Smoke Alarms and Security System
Installing a centrally-monitored alarm system can lower your annual premium by 5% or even more. To get such a discount, you must give the insurer proof of monitoring, which usually comes in the form of a contract or a monthly bill. Smoke alarms are also important; while they’re standard equipment in most homes, installing them can save you 10% each year.
Get a Higher Deductible
Like car or health insurance, the higher the deductible, the lower your premium. However, small claims such as damaged drywall or broken windows can result in significant out-of-pocket costs.
Bundle Your Policies
Most insurers offer significant discounts to customers that buy other types of coverage. If you need health, auto or life insurance, consider getting a quote from the same company offering your homeowner’s insurance in Nassau County NY.
Plan Ahead
If you plan to add onto your home or garage, you should consider the materials you’ll use. Wood frame homes cost more to insure; conversely, a steel or cement framed structure will be less expensive because of its decreased vulnerability to fire, flooding and high winds. Most people don’t think about the insurance impact of building a pool, but such an addition can increase yearly premiums by 10% or more.
To avoid delays in receiving your settlement after a claim, you should document everything carefully. Start by videotaping and photographing your home and its contents, and store copies in a fireproof box and in a safe deposit box. Doing so will help you inventory your belongings, and it will expedite the claims process. Homeowner’s Insurance in Nassau County NY is necessary, and while there are ways to cut costs, there are also things you shouldn’t economize on. Your insurance agent can help you learn the difference.
For more information, contact Orrino Insurance Group Agency INC
