Home insurance is a costly expense but it is an essential part of owning a home. You invest your money into your home and property hoping that it will increase in value over the years. If an accident occurs, it can wipe out your entire investment in a short period of time. Having a quality, well-written homeowners' policy in place is your best bet at protecting yourself from financial loss.
Make Sure to Get the Right Amount of Insurance
One of the biggest ways to lose money is to have too much insurance on your home. While it's important to insure it for what it's worth, you still have to keep your premiums manageable and within your budget. The best way to accomplish this is to keep your deductibles high. By choosing a higher deductible, your premiums will remain low and will fit within your budget. While this may cost you in the end, it is a better option than losing your home insurance if you can no longer afford the premium.
Don't Take Advantage of Automatic Renewal Options
Avoid the offer of automatically renewing your home and auto policies every year. Take the time to re-evaluate your policies so that you know you are getting the best deal each time. Situations change and with each change, adjustments to your policies may need to be made. The only way to really determine whether a change is necessary is to go over your policy with your agent and see what still applies and what doesn't.
Add Security Features to Your Home
Security features offer many different benefits. They not only work to protect your home from intruders, many offer home automation features that can detect smoke, fire, radon, water, moisture, and temperature changes. Systems are also equipped with features that allow you to turn lights on and off, view your home through security cameras, and even talk to people at your home when you're away. Outside lighting and privacy fences also fall under the category of home security, as do automated locks and motion sensors. Having security features in place will not only give you a sense of security, but it may also earn you discounts on your home insurance premiums.
Avoid buying the first policy you find. Buying an insurance policy is just like buying a car or any other item. Shop around and find the best prices for the features being offered. There are plenty of policies to choose from, so take the time to do your research before you buy. In the end, the better deal may be one that you really had to search for. Take a good look at each one and then make your decision.
Pay by the Year
Most insurance companies offer installment plans where you can pay your premiums by the month or the quarter. Instead of dragging out your payments and paying the convenience fee, pay your premiums by the year. In the long run, you may be able to save a good chunk of cash that you can turn around and spend on something fun. You may even be able to put it toward a vacation.
Our agents at East End Insurance Agency offer their clients the best possible options when it comes to reputable home insurance policies. If you are in the market for a new policy or are ready to re-evaluate your old one, call our agents today and get the answers you are looking for.