Homeowner’s insurance is something that virtually every homeowner in Massachusetts purchases whether they are required to by a lender or not. Why would so many people choose to pay for insurance even when they aren’t being forced to? Simple. For most people their house represents their largest asset – by far – and protecting that asset is something most people choose to do.
You have a choice regarding which insurance company you buy your homeowner’s policy from. Even if you finance your home your lender cannot tell you which company you must purchase your insurance from. This choice on your part is what permits you to compare low cost homeowner’s insurance in Massachusetts and very possibly save money over what you have now.
How much homeowner’s insurance do you really need? You need to talk to a contractor or a very knowledgeable real estate agent to find out what the cost would be to rebuild your house from the foundation up in case of a disaster – plus the cost of replacing the contents of your house. The thing you do not want to include in your calculations is the value of the land that your house sits on.
If you make your home less susceptible to burglary you will save money on your homeowner’s insurance. Make certain that your agent knows about all of the work and improvements that you make to your property.
Start by adding motion-sensitive floodlighting to your property. Next, cut all bushes away from windows so burglars have no place to hide. Add deadbolts to every exterior door and make sure all windows have a working lock.
A home protection system that monitors your house 24/7 for fire, carbon monoxide and burglary not only provides you and your family with a tremendous feeling of security, such a system can also save you 20% or even more on your homeowner’s insurance. However, talk to your agent before you sign up for any specific service as not every service qualifies for the full discount on your insurance.
If you have a home-based business a portion of the cost of your home protection may be tax deductible, making for a double savings!
Keep your credit record clean. Believe it or not a spotless credit record means a lower price for your homeowner’s insurance.
Next we need to reduce the chance of an accident taking place on your property. Fill in all potholes on the property and replace any buckled or cracked concrete. Repair or replace loose or broken boards in porches and decks. Make sure all railings are good and solid.
If your home is at least 10 years old talk to your agent about how much you could save each month if you upgraded your plumbing and/or your electrical systems. Often the on-going monthly savings can off-set the one-time investment in such an upgrade.
Buy and install the proper number of smoke and fire detectors for the size and layout of your house and make sure each one has a fresh battery. Replace batteries twice yearly, each time you set your clock ahead or back an hour.
Buy a fire extinguisher for your kitchen – make certain it is a model specifically rated for kitchen fires.
Now get online and find three websites that let you make head-to-head comparisons of the prices for homeowner’s insurance in Massachusetts from a variety of different insurance companies. Use the information that you have learned from this article to fill out the forms on 3 different websites in exactly the same way. It’s important that you enter the same information onto all 3 forms so that you are comparing the same policy on all 3 sites.
Once you’ve done that your job is done. You have now done your homework and you have compared low cost homeowner’s insurance in Massachusetts and you’ve found the lowest price for your insurance that you can possibly get and saved yourself money month after month and year after year.