How To Save More On Insurance When Purchasing A Home

Home insurance has become necessary for everyone looking to purchase or construct a home. It comes with every home and helps protect it from any possible dangers or risks. Mortgage lenders also consider it a crucial requirement to be met before granting a loan for purchasing or constructing a new house. 

Purchasing a home insurance policy comes with an additional expense—insurance premiums payable monthly. The rate of this premium depends on a few factors, such as the location of the house, age of the house, type of construction, and personal factors like the applicant’s credit history. 

If you are living in Silverleaf St. Johns and looking to pick up homeowners insurance, this blog provides some practical tips to help you save money. 

Spend Less On Your Home Insurance

We have identified the factors that affect the cost of your home insurance and how you can leverage them to your advantage. 

1. Buy all your policies from the same insurer.

Bundling your insurance policies will save you considerable costs. Buying your liability, auto, and homeowners coverage from one provider can help you save up to 10% in monthly premiums. It also makes it easier to monitor your policies. The only situation where this is unadvisable is when the terms of one or more of these coverages are not favorable or suited to your needs.  Your St Johns realtor can help you compare the two options and see which works better for you.

2. Consider as many options as possible. 

Why limit yourself to a few options when many home insurance policy providers are out there? Work with your Jacksonville realtor to compare the offers of various home insurance providers. Considering prices vary from provider to provider, this comparison shows you where you can get the best offer in the market. The goal is to get the lowest premium for your home insurance. If you are living in St Johns, Florida, it is advisable to consider providers offering home and car insurance coverage. 

3. Look out for unpopular discounts. 

Another essential factor to consider when shopping for home insurance to buy Silverleaf homes for sale is prioritizing policies with discounts. Insurance providers tend to offer discounts that are hardly publicly advertised. It will require your intentional efforts and that of your realtor in St Johns to uncover these discounts, especially if you are a retired applicant or senior citizen. Professional associations may also qualify for a group discount on insurance policies available to their members. 

4. Build a good credit score. 

A good credit score is not only important when shopping for mortgages; it also helps save costs on homeowner insurance. Most states in the US allow home insurance providers to adopt a credit-based insurance score to calculate the policy rates. For example, a homeowner with a lower credit score of under 630 may have to pay higher rates. Please discuss with your St Johns realtor on how to improve your credit score, but we recommend paying bills promptly and reducing your credit card balances. You should also scrutinize your credit score report to see if any errors contributed to your low credit score. 

5. Increase your deductible. 

The deductible is the amount payable toward an insured loss before your insurance company starts paying the claim. You can save more on your premiums when you raise the amount you pay as deductible. The minimum deductible as recommended by most insurance companies is $500. However, it is better to increase yours to $1,000—a move that will help you save up to 25% in costs.  Note that a separate deductible may be associated with your policy for certain types of damage to your Silverleaf homes for sale. 

Let’s Help You Find The Best Homeowner Insurance Coverage.  

Shopping for cost-effective homeowner insurance can be a hassle, especially if you are a newbie. That is why I help homeowners in Duval County and St Johns County look for the cheapest insurance options with favorable terms. 

As an experienced realtor, Sarah Schwartz, is always available to answer all your questions about insurance for any of your properties. I am also open to discussing your needs regarding your Silverleaf St Johns Homes for sale. 

Together, we will effectively insure what you have.