Do you want to protect your dream house from any disaster and danger? Take a home insurance that covers your most valuable possessions.
Following 10 tips should be considered thoroughly when purchasing a home insurance:
1. Maintain a good credit record: Most of the insurance providers check your credit history before offering insurance. Make sure you have a good credit record to get the best home insurance without any trouble.
2. Increasing deductibles: Increasing deductibles may decrease the premium rates of your policy. Pay deductibles with saved amount or emergency fund.
3. Claim less: A history of trivial claims may increase your premium rates. So try to decrease frivolous claims to get the maximum benefits.
4. Discounts and deals: Many insurance companies offer discounts on polices, unless you ask they will not reveal the discount rates. Ensure you get the best discount on your policy. Also make sure your insurer is providing payment protection policy on your home insurance policy. If you are unable to pay you monthly payments ppi make the payments and you can make ppi claims through claiming companies to get a refund.
5. Compare rates: There are so many companies in the insurance market which are offering insurance with various rates. Compare the insurance policy rates with different insurers to get an initial idea. You may get the same policy for lower rates when compared to other company insurance policy that provide with higher rates. Grab the lowest among the different home insurances.
6. Pay annually: If you want to save money on your premium, pay annually on your policy rather than paying monthly. Premiums are frequently subject to administration and finance fees, if you pay monthly.
7. Purchase online: Many insurance providers offer discounts rates for online purchasers. Some may reduce overall costs when you purchase home insurance online. So try to purchase your insurance online to save little extra money.
8. Purchase umbrella policy: Plan to take other type of insurances like health insurance, general insurance and auto insurance from the same providers to get the discounts. Some companies reduce premium rates when you buy other polices from them.
9. Stay with the same insurer: If you are holding an insurance policy for longer periods in the same insurance company, you may get special discount offer on your coverage. Some companies may decrease 5 % of premium, if you are with them for three to five years and some companies my decrease 10 % of premium, if you are with them for six years. So stay with the same insurance to get maximum benefits.
10. Improve home security: Increase your home security with burglar alarm, smoke detector and dead-bolt locks. Install your home with sophisticated sprinkler system to protect your home from fire. Make sure your home is fitted with fire and burglar alarm that rings at the fire, police and other monitoring stations. Because most of the insurance companies give discounts of up to 5 % for smoke and fire detectors and reduce your premium up to 15 to 20 % for security system. Install your home with strong security system that protects your home and saves your money.