Almost every homeowner chooses to buy homeowner’s insurance. After all, how many homeowners out there don’t want to feel safe and secure each night, knowing that their most valuable asset – their home – is protected?
Even though almost every homeowner chooses to buy homeowner’s insurance, that doesn’t mean that any homeowner wants to pay more for their protection than they have to.
So let’s see if we can discover a few things that almost any homeowner can do to reduce the amount they pay for their homeowner’s insurance.
Let’s start with something that most people never even connect with their homeowner’s insurance – their credit rating. That’s right – your credit rating affects how much you pay every month for your homeowner’s insurance, so use credit wisely and keep your credit score as high as possible.
Burglary plays a role in determining how much you pay for your homeowner’s insurance. Making your home less of a target for burglars will reduce how much you pay. There are several things you can do to make your home safer.
Let’s start by trimming back bushes from around windows so burglars have no place to hide. Then let’s install motion-sensitive floodlighting. Next we’ll check every single exterior door and make certain that it has a deadbolt – and we’ll see to it that all windows have a working lock.
Accident-spawned lawsuits are also included in the cost of your insurance. Let’s repair all cracked and buckled concrete and fill in all potholes anywhere on the property. Let’s also replace all lose and rotting floorboards on porches and decks and make sure that all railings are tight and secure.
If your home is over ten years old a portion of your monthly premium goes toward insuring against the possibility of water damage caused by broken water pipes or faulty connections to appliances. Ask your agent how much of a continuing savings you will realize if you make a one-time investment in upgrading your plumbing and electrical systems. It could be that making the upgrade will pay off in the long run.
A 24/7 home protection system that is monitored off-site for fire, carbon monoxide and burglary can not only make you and your family feel safer, but it could also save you 20% or even more on your homeowner’s insurance each and every month. Talk to your agent before deciding on a system, however, as some systems qualify for a larger deduction than others.
If you have a home-based business talk to your tax advisor and see if any portion of a home security system could be written off of your taxes – for an even greater savings!
Make certain that you have the required number of smoke and fire detectors installed and that they each have a fresh battery. Batteries need to be changed twice yearly.
Pay your premiums yearly rather than monthly. If you cannot afford to pay yearly then have your payments made automatically each month.
Increase your deductible. If you can afford to increase your deductible you will save money on your premium payment each and every month. However, keep in mind that your deductible represents cash out of pocket that you will have to find yourself if you ever have a claim.
Keep in mind that most standard homeowner’s policies have restrictions as to how much they will pay for wind damage. If wind damage is a concern talk to your agent and see what remedies are available to you. Also, no standard homeowner’s policy covers you for flood damage. If flooding is a concern you will need to purchase flood insurance separately.
The last thing you need to do to get affordable homeowner’s insurance in Massachusetts is to get online and find a minimum of 3 of the websites that make comparing prices on homeowner’s insurance from different companies a snap.
Use some of the information you have gleaned from this article to fill out the forms on all 3 websites in exactly the same way so that the comparisons you get will be valid.
As soon as you’ve done that your job is basically done. Just decide which insurance companies you feel confident will still be around in 30 years and then choose the lowest-price for your policy.
That’s it! That’s how to get affordable homeowner’s insurance in Massachusetts and guarantee that you will save money year after year.