8 Best Home Insurance Savings Tips You Should Know

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Your home is often the most valuable asset that must be protected. We have created a list of all the opportunities for all savings related to home insurance. This list is the most comprehensive on home insurance savings. Many insurance brokers have contributed to this list. So let’s get started!

Insurance Policy

1. Changing the content of the coverage: Renting a condo? It is often possible to reduce the content coverage. There is no need to insure your belongings up to $250,000 if you have only a laptop and some IKEA furniture!

2. Repair: Repair of your house can reduce home insurance premiums, and home insurance premiums for older, poorly maintained dwellings, tend to be higher. Furthermore, the renovating only a portion of premises (e.g. roof) can lead to insurance savings.

3. Pool: Adding a swimming pool in your home is likely to increase your insurance rates in your liability (for example, the risk of someone drowning) and the value of your home has increased.

4. Pipes: Insurers prefer copper or plastic plumbing – maybe it’s a good idea to update with the zinc/lead pipes during the next renovation cycle of your home.

5. Shop around: Search, compare and switch insurance companies. There are many insurance providers and their rates at the same policies can be very different, so use multiple online tools and talked with several brokers, as each of them will cover a limited number of insurance companies.

6. Wiring: Some wires are more expensive or cheaper than the other, to be sure. Make sure you are using the approved cable types, and by all means avoid the aluminum wiring, which can be very expensive to insure. Not all insurers will cover homes with aluminum wiring, as well as those who require full electrical inspection of the house.

7. Professional Membership: Are you are a member of a professional organization, if Yes! Then, some insurance companies offer discounts.

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8. Seniors: Many companies offer special rates for senior citizens.

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