If you need to purchase a home owner’s insurance policy, there is an abundance of information available. Not all of it is clear, or even helpful. We present to you a list of shrewd tips that will make it a bit easier for you.
To save money on your Illinois homeowners insurance talk to your agent and see if the company provides discounts for installing additional smoke detectors. Many older homes lack them in areas that are considered standard places to install today and many insurance companies will provide a discount as an incentive for you to add more.
If you are searching for an easy method of saving money on your homeowner’s insurance premiums, then simply pay off your mortgage. Insurance companies assume that individuals who own their house will take more care of their home than people who do not. Paying off mortgage debt decreases your annual premiums.
There are simple ways to reduce your homeowner’s insurance premiums. If you want to put a new addition on, remember that steel and cement cost more but the insurance may be lower than if you get wood frames.
Higher Deductible
A higher deductible on your homeowner’s insurance can save you money on premiums. While a higher deductible may mean that you will be responsible for small repair costs such as broken windows, more often than not these costs are balanced out by the savings you will receive on your annual premiums.
Your policy will have lower premiums with a security system. By keeping your home safe, the insurance company will charge you less money. Tell your insurance provider as soon as you put in the safety features. They might immediately lower your premiums.
If you have any spare money in a savings account, use it to pay off your mortgage. When you own your home outright your annual Illinois house insurance premiums can drop dramatically as insurance companies tend to assume that home-owner’s are more likely to take care of and secure their property.
When getting homeowners or renters insurance make sure you tell your insurance agent to add an addendum for flood and water damage. Most policies do not cover water damage unless it is added to the policy. Even if you don’t live in a flood zone, your home can suffer water damage from extreme weather and after a fire.
If you have Illinois house insurance and also have a dog, make sure that you look for policy options that cover people who may be attacked by your dog. It’s a strange and backwards world sometimes, but an intruder can actually sue you if your dog attacks him. Yeah, it’s crazy, but that’s why they have these coverage options.
Installing a security system can help save you money. Not only does this give you some peace, but you should pay less for your policy. If you protect your home, you become a lower risk with lower premiums. The amount you save on premiums will soon pay for your security system.
Consumer Reports
Check out Consumer Reports before you open a home owner;s policy with any company. Consumer Reports has a great website that makes it quite easy for a consumer to find the information that they seek. The scores that are given, will help you decide if that particular company is one that you want to work with.
We don’t claim that this a comprehensive list of the advice that you need, but it should get you going in the right direction. Why not make a few notes outlining what tips you think that you can use? Try to apply some of these suggestions – we are confident that you can get a better deal.
To help you have peace of mind and save money on your insurance premiums, install a centrally monitored security system. You will get a good discount from your insurance company and have a great deal of security and peace of mind. Be sure to send proof of your centrally monitored alarm system to your insurance company to claim your discount.
For insurance quotes call 314-569-1010 or visit: Midwest Insurance