Embedded Files
"People who live in glass houses should take out insurance." - Unknown Source
Don't Be Under Insured: Think that being robbed is bad? Wait till you see what your insurance company does. One day my wife and I came home from work to find that we'd been robbed. Mostly electronics and jewelry. We thought that we were covered. But when we made our claim, we only got a tiny bit of what was lost. Why? Because they said that we didn't have proof of what was stolen and also didn't have replacement value insurance. So if you don't want to get ripped off twice, take pictures of your valuables, keep receipts and check your insurance coverage. You may think you're in good hands but don't wait until you try to collect on a claim to find out for sure. Eric from Dollar Stretcher Tips
Homeowner's insurance is a type of coverage that pays for the damage or loss of your home and personal property due to perils such as fire, theft, vandalism, or natural disasters. It can also protect you from liability claims if someone gets injured on your property or you cause damage to someone else's property. Here are some ways to save money on homeowner's insurance according to different sources:
- **Shop around for homeowner's insurance**. You may have options to buy homeowner's insurance from different providers, such as your mortgage lender, a local agent, a national company, or an online broker. You should compare the rates, coverages, deductibles, discounts, and customer service of different plans and choose the one that best suits your needs and budget.
- **Increase your deductible**. A deductible is the amount of money you have to pay out of pocket before your insurance pays for a claim. Choosing a higher deductible can lower your premium, but it also means you will have to pay more if you have a loss. You should choose a deductible that you can afford to pay in case of an emergency.
- **Make your home more secure**. You can reduce your premium by installing security devices and systems that can deter burglars and prevent damage from fire or water. For example, you can install smoke detectors, fire extinguishers, deadbolt locks, burglar alarms, sprinkler systems, storm shutters, and water sensors. Some insurers may offer discounts for these safety features or require them for certain types of coverage.
- **Skip small claims**. You may be tempted to file a claim with your insurer even when something relatively minor happens. However, you may be better off in the long run if you pay out of pocket for these smaller expenses — some insurers offer discounts if you remain claim-free for a certain period of time, usually a few years. Filing too many claims can also increase your premium or make you ineligible for renewal.
- **Ask about lesser-known discounts**. You may be eligible for various discounts on your homeowner's insurance depending on your personal characteristics, lifestyle habits, payment methods, or other factors. For example, you may get a lower rate if you are a senior citizen, a nonsmoker, a loyal customer, a paperless biller, an auto-pay user, or a member of a certain group or organization. You should ask your insurer about any discounts that may apply to you.
- **Account for home improvements**. You can save money by making some improvements to your home that can increase its value, reduce its risk, or lower its reconstruction cost. For example, you can update your plumbing, electrical, heating, or cooling systems; replace your roof; install energy-efficient appliances; add fire-resistant materials; or use smart home devices. Some insurers may offer discounts for these home improvements or require them for certain types of coverage.
- **Bundle your auto and home insurance**. You can save money by buying your auto and home insurance from the same provider and combining them into one policy. This can give you a discount on both premiums and simplify your billing and claims process. You should compare the benefits and costs of bundling versus buying separate policies from different providers.
- **Build your credit score**. Your credit score can affect your homeowner's insurance premium in some states. Insurers may use your credit score as an indicator of how likely you are to file a claim or pay your premium on time. If you have a good credit score, you may get a lower rate than someone with a poor credit score. You can improve your credit score by paying your bills on time, keeping your credit card balances low, and checking your credit report for errors.
- **Review your policy annually**. Your homeowner's insurance needs and circumstances may change over time due to life events such as moving, remodeling, adding or removing contents, filing a claim, or changing insurers. You should review your policy at least once a year and make any adjustments that reflect your current situation. You may be able to lower your premium by reducing your coverage amount, changing your deductible, dropping unnecessary riders, or switching to a different provider.
Keep receipts and photos off premises of all unusual or expensive items. Buy additional insurance for what is not covered like collectibles
Every year take photos or videos of your entire house too all at once or room by room. Open drawers and doors to show items inside
The videos and photos after loss... make a journal of names, dates ,activities in the claim process. Document all damage in writing with receipts.
Protect your property from further damage ... the additional damage will not be covered
Make sure you have enough coverage. Check coverage limits. Make sure you can rebuild your house for the specified amount if not raise your limits. Get a 3rd party appraiser to convince the insurance to raise coverage. Use appraiser approve by insurance.
Don't make a claim unless you have a major loss
Invoke the appraisal clause on your contract and use an independent appraiser for the true value of your home to get a third party appraiser.
ARTICLES:
ARTICLES:
What To Do Before Dealing With a Home Insurance Claims Adjuster
What’s Mortgage Protection Insurance and Do You Need It?
5 Reasons Why Home Insurers Will Cancel You as a Customer
How Much Homeowners Insurance Do You Need?
Protect Your Belongings by Videotaping Them Once a Year
10 Best Homeowners Insurance Companies Ranked and Graded
Home Title Lock: Is It the Same As Home Title Insurance?
When Should You File a Homeowners Insurance Claim?
Best And Worst Homeowners Insurance Companies
What’s In A Home Insurance Policy? Know The Details Before A Fire Occurs
6 Things To Know and Do Before You Deal With a Home Insurance Claims Adjuster
Actual Cash Value vs. Replacement Cost: What’s the Difference?
10 Things Homeowners Insurance Doesn’t Always Cover
A Home Insurance Policy Review To Understand What’s Covered.
Climate Risk Report for Homes and Real Estate - Fire, Flood, Storm, Heat / ClimateCheck Inbox : ClimateCheck® ratings reflect hazard risk at a property relative to the rest of the contiguous United States. Ratings are based on projected 2050 risk and the change from historical risk.
Why You Need a Home Inventory: Are you getting enough protection from your homeowners insurance? If you don’t have a home inventory, then maybe not. Find out why you need a detailed list of all your belongings and how often you should update it.
The Largest Homeowners Insurance Deductible That Clark Recommends
Home title lock insurance? Not a lock at all
The One Optional Insurance Policy Every Home Buyer Should Get
Scammers Tried to Sell Graceland. How to Prevent Your Home From Being Next.
What Is Owner's Title Insurance and Do You Need It?
The One Optional Insurance Policy Every Home Buyer Should Get
9 Easy Ways To Lower Home Insurance Premiums
Replacement Value vs. Cash Value Homeowners Insurance Coverage
How To Save Money On Your Auto and Home Insurance
the best and worst home insurance companies
Homeowners Insurance Archives - Clark Howard
Here’s Exactly How Much You’ll Save By Changing Your Homeowners Insurance Deductible
Take action when home insurance is cancelled or costs surge
10 Best Homeowners Insurance Companies Ranked and Graded
6 Things To Know Before Dealing With a Home Insurance Claims Adjuster
When Should You File a Homeowners Insurance Claim?
9 Ways to Lower Your Home Insurance Cost - NerdWallet. https://www.nerdwallet.com/article/insurance/save-on-homeowners-insurance.
11 Ways to Save on Homeowners Insurance | ConsumerAffairs. https://www.consumeraffairs.com/insurance/how-to-save-on-homeowners-insurance.html.
How to save money on your homeowners insurance | III. https://www.iii.org/article/how-to-save-money-on-your-homeowners-insurance.
6 ways to save money on your homeowners insurance. https://www.washingtonpost.com/business/2020/02/24/6-ways-save-money-your-homeowners-insurance/.
9 Ways to Save On Homeowners Insurance in 2023 - MarketWatch. https://www.marketwatch.com/guides/insurance-services/how-to-save-on-homeowners-insurance/.
Homeowners Insurance Basics Every Homeowner Should Know
7 Other Kinds of Insurance You May Need to Buy for Your Home
5 Reasons Why Home Insurers Will Cancel You as a Customer
7 Things Not to Do to Get Cheaper Home Insurance
Why You Should Update Your Homeowners Coverage Limits Every 3 Years
The Largest Homeowners Insurance Deductible That Clark Recommends
Best Homeowners Insurance Companies
What Does Homeowners Insurance Cover
What Does Homeowners Insurance Not Cover?
How Much Should Your Homeowners Insurance Cost?
Homeowners Insurance Basics Every Homeowner Should Know
10 Best Homeowners Insurance Companies Ranked and Graded 2022
Replacement Value vs. Cash Value Homeowners Insurance Coverage
Guide to Inexpensive Homeowners Insurance
Our Guide to Understanding Homeowners Insurance Costs
9 Easy Ways To Lower Your Home Insurance Bill
4 Things You Can Do to Lower Your Homeowner’s Insurance Rates
Is a Home Warranty Worth the Money?
Replacement Value vs. Cash Value Homeowners Insurance Coverage
9 Easy Ways To Lower Home Insurance Premiums
Taking Inventory of Your Possessions in Case of Loss
Compare quotes from top-rated home insurance companies
Your Homeowners Insurance Policy Likely Needs To Be Increased Too
The Best Home and Auto Insurance Bundles of 2021
The Best Homeowners Insurance Companies 2021
How to Save Money on Your Homeowners and Auto Insurance
Compare Home Insurance Rates Instantly
How To Cancel Private Mortgage Insurance Years Ahead of Schedule
Here Are the Insurance Policies Homeowners Need to Get and the Ones To Skip
How to Get the Best Deal on Homeowners Insurance
Should You Buy Home and Auto Insurance Endorsements?
How to Get Property Insurance in High-Risk Areas…
Saving Money with a Household Inventory
What Empty Nesters Need to Know About Homeowners Insurance
8 Ways to Slash the Cost of Homeowners Insurance
Homeowners Insurance Basics Every Homeowner Should Know
5 Steps to Protect Your Home - Consumer Reports
Best DIY Home Security Systems of 2019 - Consumer Reports
Homeowner's insurance buying guide
Reduce the Cost of Homeowners Insurance
8 Ways to Slash the Cost of Homeowners Insurance | Money Talks News
Why You Should Do a Home Inventory Now - Consumer Reports
How to Create a Home Inventory in 6 Steps | Money Talks News
What Empty Nesters Need to Know About Homeowners Insurance
5 Reasons Why Home Insurers Will Fire You as a Customer
8 Foolproof Ways to Slash the Cost of Homeowners Insurance
10 Ways to Reduce Your Homeowner’s Insurance Rates
Best homeowners insurances according to Consumer Reports:
TIP: On homeowner's insurance choose a high deductible of $2,500 or more to save money and avoid filing claims on small amounts. Use it for catastrophic situations not for everyday claims.
TIP: (From Clark Howard And if at-Clark Howard: Advice You Can Trust. Money in Your Pocket ) Avoid filing small claims with the home owner's insurance because you run the risk of being drop by them no matter how many years you have been with them. And if they drop you word will get out and no other insurance will cover you. What you need to do:
1) Raise the deductible as high as you can, this will reduce your premiums and you will avoid making small claims.
2) If you have a real catastrophe then make a claim.
TIP: Home and renter's insurance do not cover flood and earthquake... you need to buy them separate/
More quotes:
"It's important to check your homeowners policy each year to make sure you have the proper coverage. Has the value of your home changed significantly? Would you have enough insurance if you had a fire? What about possessions? Did you add that new big screen TV to your inventory with a picture of the receipt and the model number tag? You get the idea. Just like you'd get an annual physical from your doctor, you should do an annual insurance physical." Ted from Dollar Stretcher Tips
Insurance Deductible Savings: Call your home and car insurance agent and see if you can lower your monthly premium by increasing your deductible amount. If you're like me, you set those amounts when you may not have had the savings built up that you do now. Just this month I increased my auto deductible from $100 to $1000 and my homeowner's deductible from $1000 to $5000. If something happens, I can cover those amounts with my savings, but if it costs over those amounts, I will have to decide if I want or need to make the claim. I saved $70 a month! That's $840 a year and I still have exactly the same coverage. Dolores from Dollar Stretcher Tips
Ensuring Proper Homeowner's Insurance Coverage: Over the years, we have done numerous repairs and additions to our property. We’ve added a two-car garage, a work shed, a whole-home generator and hard-wired security cameras. As for repairs, we upgraded our septic system, sealed off the basement walls and replaced the chimney. These may seem like minor fixes, but we always let our local insurance agent know so that he is aware and can annotate our account to show that we are proactive about maintaining our property. Upgrades can help prevent major damages and can help ensure proper coverage.
Toni B. from Dollar Stretcher tips
Page updated
Google Sites
Report abuse