Home Buying? Reduce Your Homeowners Insurance
Who doesn't want or need to save some money on bills? William True offers some very good tips on reducing Homeowners Insurance. I hope you read William's post and leave your comments on his page. He will appreciate hearing from you. See you in the Rain!
Reducing the Cost of Your Homeowners Insurance
As Exclusive Buyers Agents for Sarasota real estate, we guide people around the world through the process of buying a home in Sarasota, Florida, including decisions on homeowners insurance. Depending on the company and the state, prices and discounts on homeowners insurance vary, and we recommend that you investigate and ask about all discounts available to you. Here are our quick tips on reducing the cost of your homeowners insurance.
1. Deductible. On homeowners insurance policies, deductibles usually start at $250. Increase your deductible to $500, and you could save up to 12%; $1,000, up to 24%, and so on...
2. House vs. Land. Don't unnecessarily insure your land, or include its value in your homeowner's insurance.
3. Construction / Location. Discounts may be available based on your property's age, repair history, and construction. Insurers may be able to offer you a discount of 8-15% if a property is newly built. Also, how the house is constructed might work in your favor. Brick is better in tornado and hurricane zones because of wind resistance, but frame construction is better in earthquake zones. If the property is located near a hydrant or fire station, your premium might be lowered.
4. Security Systems. Find out if the insurer offers discounts for security systems. Many offer discounts of 5% or more for burglar alarms, smoke detectors, or dead-bolts. Some will cut your premium 15-20% if you install a sprinkler system and a fire and burglar alarm that notifies the police or another monitoring agency.
5. Loyalty. When you buy your homeowners and auto policies from the same company, you’ll often qualify for a discount. Some insurers cut premiums by 5% if you stay with them three to five years, and they'll offer bigger reductions if you remain a long-term policyholder.
6. Groups. Alumni and business associations often arrange insurance plans which include discounts for members. Ask your alumni or business association if there's an insurer offering a discount on homeowners insurance to you and your fellow graduates or colleagues.
7. Retirees. Since retirees stay at home more, they often spot problems sooner and have more time for home improvements. If you're retired and at least 55, you may qualify for a discount. Make sure you ask!
If you're thinking of buying a home in Sarasota, Florida, True Sarasota Real Estate is ready to help. As Exclusive Buyers Agents, we have helped investors and home buyers around the world find and purchase the best homes for sale in Sarasota, FL.
William True, Sarasota Real Estate & Exclusive Buyers Broker
ABR, ABRM, AHWD, BPOR, BS, CIPS, CLHMS, CNHS, CRB, CRS, e-PRO, GREEN, GRI, RCC, RSPS, SFR, SRES, TRC
Licensed Sarasota Real Estate Broker, Sarasota Notary Public
Albuquerque Homes and Lifestyle Blog
John McCormack Owner/Managing Broker, e-PRO
505-980-4576 / John@AlbuquerqueHomes.com
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