If you have yet to pay off your mortgage and even if you own your home outright, insurance is really an absolute must. Your home is probably the biggest single asset you have or will ever have and it takes but a moment for tragedy to strike. Although homeowners insurance in Traverse City, MI is a must, high premiums are not, they can be brought down by following a few simple strategies.
Never buy without a hard quote: Before you buy a home give thought to how much it will cost to insure it. You may think that two almost identical homes should carry the same insurance premium; not so. There are many factors that an insurance agent takes into account before he or she offers a quotation; this can include how close the home is to emergency services such as the fire department and fire hydrants, the homes heating system, the electrical system and the plumbing. It is easy for two homes that appear to be identical can vary in insurance premiums by 10 to 15 percent.
Don’t consider the land value: Homes can be ripped off their foundations in a flood or tornado and they can burn to the ground, but none of these tragedies have any effect on the land the house sits on. Just buy enough homeowners insurance in Traverse City, MI to cover the value of the building and contents, the land will look after itself.
Install an alarm: Unfortunately we are living at time when so called “petty crime” is rampant, including smash and grab robberies. Homes that are protected with an alarm system may be rewarded by the insurance company with a discount that can be as much as 15 percent.
Raise your deductable: You can trim a considerable amount of your homeowner’s insurance premium if you think about how much you can afford to pay before you call upon your insurance. If you can raise your deductable from $500 to $1,000 you can look forward to a considerable savings.
One major way of reducing the premium on all your insurances, including auto and homeowners is to bundle all of your insurance needs with one insurance company. A multi-policy discount is another way to trim the costs by 10 percent.
Johnson & Associates Insurance offer complete analysis of your homeowners insurance needs in Traverse City, MI. Click here to know more.
