Saturday, November 2, 2013
Cheaper Home Insurance Rates And The Home You Buy
Here are things to do to lower your home insurance rates if you are trying to pay for a new home...a) You'll always spend less for a newer home than an older one. A new house will attract savings of between eight to fifteen percent from most insurance companies. This is because every feature in a new house will typically be in great condition. You do not expect an old roof on a new house, do you?b) The material used in the construction of the house could as well make you pay a lot more or less. A brick house will attract cheaper rates in the East. If you compare a brick house to a frame house, it is certain that the brick home will be more resistant to wind damage. In the West, however, you'll get lower rates if it's built with frame. The obvious reason for this is that frame houses are less prone to earthquake damage. Insurers will offer markdowns of from 5-15% if you choose rightly in your situation.c) This is important in spite of the fact that it's not part of a home insurance policy. You'd have to buy flood insurance at up to $400 yearly if you buy a home in a flood-prone region. Every mortgagor will insist that you buy it if your house is in a flood-prone region. Apart from where you are sure the additional expense is a wise compromise, you'll spend less if you buy a home in a locality that won't demand flood insurance.d) If you buy a house in a neighborhood that has just a volunteer fire service, you'll pay higher rates than for a locality that has a full-time fire service. Understand that your rates will be further influenced by your home's distance from a fire station, firefighting equipment or hydrant. If your house is closer to these facilities, you'll pay less.e) How near is the home to a police station? This as well will go a long way in lowering your home insurance premium.f) Buy a home as far away from high crime areas as possible. Living in such neighborhoods costs you a lot in home insurance. Two homes just a street away from each other could fall into different risk areas on an insurer's map. You can inquire from an agent or insurance office and ask. It does happen that the house on the adjoining street belongs to a high crime district (according to an insurance company's map) while yours is in a low crime zone.You will save much money in home insurance if you obtain and compare home insurance quotes from quotes sites. You will make savings if you use just one quotes site. However, you'll get more by visiting at least three. The simple logic in this is that you'll receive many more home insurance quotes from many more insurers. This increases your chances of receiving better rates.