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Reducing Home Insurance Costs For A New Property

Moving homes is exciting and exhausting in equal measure. There is so much to consider that it’s easy to miss a few of the essentials. Thankfully, you remembered that home or contents coverage is a must.

Unfortunately, you can’t believe the quotes are so high. During a move, you need to cut costs where possible, but you also want a comprehensive policy. Otherwise, there may be a gap that leaves you vulnerable in the future.  

Of course, the best thing you can do is work out how to get homeowners insurance that doesn’t cost too much – something that, when you speak to experts, isn’t actually as hard as it might sound.

The good news is that you can reduce the fees involved in home insurance policies without taking shortcuts. Continue reading to find out more about the four best tactics at your disposal.

Never Over Insure

Anything can happen at any time, which is why it’s tempting to write in terms and conditions that are never going to happen. Earthquake coverage, for example, isn’t necessary if the last quake was one hundred years ago.

The trick is to understand the issues that your property is susceptible to and to include them in your policy. For instance, if you live next to a lake, river, or lake, flood cover is probably a wise move since global warming is worsening.

Also, don’t guess the value of your content. That’s another surefire way to over-insure and pay extra.

Combine Cover

Everything inside your home is covered by contents insurance. Everything on the outside, including the property’s exterior, falls into a different category. Of course, you require both in case there’s a problem with your home’s structure, which boosts your expenses.

However, you can combine these two elements into a single monthly payment. To do it, you need to purchase both from the same insurer. Although shopping around and playing companies off one another is effective, there’s no need for building and content cover.

Promote Security Features

The safer your new property is, the less your insurance policy will cost as you won’t require as many features. With that in mind, it’s vital to advertise the security features to your insurer. Always start by searching for properties that are in gated communities as they include an extra level of protection. Roger O’Steen has the experience and skill to help.

Next, look for transferable safety properties. A prime example is a garage as it will lower your car insurance premiums. Remember that an area of your house could impact separate policies.

Lastly, inform your provider about any neighborhood watch programs.

Pay Annually

Monthly installments are the norm since you don’t have to pay a lump sum upfront. However, if you have the budget, Kasey Cassells says you are better to clear your arrears straight away. This is because recurring payments incur a charge, making them more expensive.

Also, you get peace of mind knowing that you don’t have to fret about insurance-related issues for another year or two. All you should do is start looking for quotes as the end date gets closer.

How do you lower the cost of moving to a new property?


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About the Author

Kaya Wittenburg

Blog Author and CEO

Kaya Wittenburg is the Founder and CEO of Sky Five Properties. Since the age of 10, real estate has been deeply ingrained into his thoughts. With world-class negotiation and deal-making skills, he brings a highly impactful presence into every transaction that he touches.

He is here to help you use real estate as a vehicle to develop your own personal empire and feel deeply satisfied along the way. If you have an interest in buying, selling or renting property in South Florida, contact Kaya today.

Feel free to call me at: (305) 357-0635
or contact via email: