How much is house insurance?

Some states provide excellent resources to help residents buy homeowners insurance. Texas is one such state, with its guide for knowing what coverage you need. What you will learn whether you are in the beginning stages of researching house insurance or comparing quotes is that prices vary greatly.

A house that is built from practically indestructible, fire retardant materials of super-anti-earthquake solid construction is cheaper to insure than a traditional wood frame tinderbox.

Of course, just because you might value older style of building materials it does not mean your insurance must by default be sky high.

Instead, there are ways to mitigate, or lessen, the impact of having less solid construction.

how much is house insuranceThe idea here is to show the insurance company how you are lessening the risk of making a very expensive claim. If you make the insurer nervous that they are going to have to pay out lots of money, then they will charge you more for insurance.

  1. History of financial bad luck, such as huge medical bills that throw off your ability to pay your bills.
  2. Irresponsible financial behavior, like blowing off financial obligations.
  3. Past history of many insurance claims over the course of one decade, beyond statistical norms.
  4. A huge, albeit legitimate insurance claim.

For one, if you live in a hurricane-prone area, perhaps the latest and greatest or most trustworthy hurricane shutters need to be installed on your house. Secure exterior structures such as decks and carports beyond the basic building methods.

In addition, keep hurricane preparedness materials handy, in addition to your insurance information. Be sure to always compare rates using our FREE quote tool above!

Improving Chances of Securing Affordable Insurance

People are not having a great time with the financial situations brought on by hard economic times. Many are still reeling, and have found themselves in financial ruin. Despite this, it is time to rebuild.

Keep tabs on personal financial situations:

  1. Pay bills on time
  2. Pull your free credit report annually. Most people have mistakes on there, such as mistaken identity errors, errors in credit card and on other accounts. Annually you receive a free credit report.

Many people do not understand that personal credit is determined via a formula. Roughly, how much of your credit you use may be harming you. If you use more than one-third of your credit per card your score drops.

If you are late in making recurring payments your score drops further. If you stop paying bills without contacting a creditor, your score drops. That’s basically it in a nutshell.

Prevent Claims

Do the following to help prevent home insurance claims:

  1. Maintain your home
  2. Hire a contractor to inspect roofing, siding, foundations, and windows annually
  3. Have the contractor take a look around the interior of your house too. Check attics, ceilings under bathrooms, and under sinks
  4. If you see damage, get free estimates first. Compare the cost of fixing it yourself and measuring the costs against your deductible

In addition to checking how much it would cost to fix on your own, consider that a claim could add 20% onto your insurance premiums for the next five years, in addition to the deductible you pay to file the claim.

average cost of home insuranceAdd all of the expenses of a claim and measure against what it costs to pay $300 to replace a window out of pocket, for instance.

The most common claims are for dog bites and mold remediation. Liability claims, which dog bites fall under, are a flag to insurance companies that there is negligence.

Most liability claims will be a flag for the insurers that there’s negligence.

Hire a dog trainer, and make sure that your dog is safe around other dogs, cats, people, and kids before having the neighborhood party in your place with your dog among the crowd.

Mold is another tipoff that all may not be OK in your house. It is a signal to your insurance company that they need to take a closer look into your ability to maintain your house.

In response, your insurance may get cancelled, or increased to a painful point. The insurer may even attempt to deny the claim or downright deny the claim.

Security and Safety

It does not matter where you live. You may be the victim of a burglary or fire at any point. An alarm system acts as an auditory deterrent. Burglars will not know whether your system is connected to an alarm company or not. It would mean they have a limited time before police would arrive.

A security monitoring system is even more ideal. It reports back all kinds of information to a manned station. They can call the fire department or police department for you. It requires a monthly subscription fee and purchase of equipment usually.

Though, it reduces your insurance, and is a better guarantee that your prized possessions cannot walk off as easily as without any such deterrents.

Always make strides to prevent fires too. At the least, try to contain or damper fire. Keep fresh fire extinguishers in the kitchen. If you live in a building, you may be outfitted with a working sprinkler system. Always test smoke detectors at least twice per year. Swap out old batteries twice a year too.

The cost of insurance is best lowered by increasing deductibles, buying insurance from the same company for better savings, and paying the premium all at once help the most.

From there, compare costs of insurance from different insurance companies. Just because a policy is more expensive does not mean it is superior.

Instead you may be making a profit for the insurers by overpaying. Many assume that staying with the same insurer saves the most money. It is not always true.

What may happen is your insurer gets comfortable having you. TO bring in new customers, they offer a good low rate, at the expense of their long-term customers. That means it pays to always shop around and compare free quotes.

Insurance rates are all different. The best way to keep prices down is to compare costs. In addition, limit risks. Be sure to use the FREE tool below to start comparing rates instantly.