Unless your home is financed you are not required to purchase homeowner’s insurance in Iowa. Nevertheless, most homeowners who own their homes free and clear still choose to purchase homeowner’s insurance for the simple reason that doing so simply makes good economic sense.
After all, for most people their home represents their biggest investment and their greatest asset. Of course they choose to protect it.
However, your home does not necessarily receive more protection if you over-pay for homeowner’s insurance. If you can save money and get discount homeowner’s insurance and still get the coverage you want, then you would be foolish not to look for the best deal.
Let’s begin with the observation that even if your home is being financed you have a choice of which insurance company and which policy you wish to purchase. In other words you do not have to go with any insurance company recommended by your lender.
Before we jump online and start comparing homeowner’s policies and their prices you need to have some idea of the kinds of things that can help you save money on your policy. And keep in mind, many of the tips in this article can help reduce your monthly homeowner’s insurance payments no matter how long you have been paying on a policy tell your agent about anything you have done that might reduce your cost and your premium can be reviewed and lowered.
Let’s start outside your home by making certain that all weeds and brush have been cleared at least ten feet from any structure on your property. This will reduce the fire risk.
Installing motion-sensitive floodlighting can greatly reduce the risk of burglary and so should help keep your monthly premium at bay. Likewise, trimming all bushes away from windows discourages burglars as well and can positively impact your monthly cost of insurance.
Every exterior door needs a working deadbolt and every window, regardless of what floor it’s on, needs a working lock. Installing deadbolts and locks should also reduce your cost of homeowner’s insurance.
And be careful with your credit rating. Many people are unaware that their credit rating also affects how much they pay for many kinds of insurance, including homeowner’s insurance. The higher your credit score the lower your monthly homeowner’s insurance bill.
Inside your home be certain that you have installed the recommended number of fire and smoke detectors and make certain that they have fresh batteries twice yearly.
If you can afford a home protection system that is monitored off-site 24/7 and which reports fires and burglaries directly to the proper authorities you can save an average of 20% to as much as 30% on your homeowner’s insurance. Talk to your agent before you pay to have a system installed.
Bundling your homeowner’s insurance with other insurance, such as auto or health, with the same insurance company can often earn you a multi-policy discount.
If you upgrade your wiring or plumbing system be certain to let your agent know since these types of upgrades can often reduce your homeowner’s insurance costs.
Don’t smoke. Non-smokers get a much better deal on homeowner’s insurance. If you smoked at the time you purchased your policy but have since quit you should report that fact to your agent it is probable you could see a substantial reduction in your monthly premium.
Purchase a fire extinguisher designed especially for kitchens and mount it where it is easily accessible. And be sure to let your agent know about it.
The amount of homeowner’s insurance you need depends on the cost of rebuilding your home from the foundation up in today’s dollars plus the cost of replacing the contents of your home. Do not make the mistake of insuring for the value of the land that your home sits on.
O.K. You are now armed and dangerous and should be able to make comparisons between homeowner’s insurance policies like a pro. There is virtually no limit to the number of websites that will let you make comparisons, but don’t believe that you only need to make comparisons on just one site.
No site compares all the different insurance companies and their prices. If you want the best chance of finding the best policy and saving the most money while getting discount homeowner’s insurance in Iowa, then you’ll need to take the time to make your comparisons on at least 3 different websites.