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Money-Saving Tips Improve your home security You can usually get discounts of at least 5 percent for a smoke detector, burglar alarm or dead-bolt locks. Some companies offer to cut your premium by as much as 15 or 20 percent if you install a sophisticated sprinkler system and a fire and burglar alarm that rings at the police, fire or other monitoring stations. Seek out other discounts Companies offer several types of discounts, but they don't all offer the same discount or the same amount of discount in all states. For example, since retired people stay at home more than working people they are less likely to be burglarized and may spot fires sooner, too. If you're at least 55 years old and retired, you may qualify for a discount of up to 10 percent at some companies. Some employers and professional associations administer group insurance programs that may offer a better deal than you can get elsewhere. Maintain a good credit record Establishing a solid credit history can cut your insurance costs. Insurers are increasingly using credit information to price homeowners insurance policies. To protect your credit standing, pay your bills on time, don't obtain more credit than you need and keep your credit balances as low as possible. Stay with the same insurer If you've kept your coverage with a company for several years, you may receive a special discount for being a long-term policyholder. But make certain to periodically compare this price with that of other policies. Review the limits in your policy and the value of your possessions at least once a year You want your policy to cover any major purchases or additions to your home. But you don't want to spend money for coverage you don't need. Look for private insurance if you are in a government plan If you live in a high-risk area - say, one that is especially vulnerable to coastal storms, fires or crime - and have been buying your homeowners insurance through a government plan, you should check with an insurance agent or contact your state department of insurance for the names of companies that might be interested in your business. When you're buying a home, consider the cost of homeowners insurance You may pay less for insurance if you buy a house close to a fire hydrant or in a community that has a professional rather than a volunteer fire department. It may also be cheaper if your home's electrical, heating and plumbing systems are less than 10 years old. Remember that flood insurance and earthquake damage are not covered by a standard homeowners policy. Most homeowners policies will cover business equipment in the home, but only up to $2,500 and they offer no business liability insurance. Although you want to lower your homeowners insurance cost, you also want to make certain you have all the coverage you need. |
Nakisha Brisco, Realtor
Abek Real Estate 820 Oak Harbor Blvd. Slidell, La 70458, 504.717.7408 cell, 985.646.2111 office, 985.646.2772 fax, e-mail: arealtorworking4u@yahoo.com
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