Home insurance costs seem to go up every year.  Outside of competitively shopping your policy annually, here are some tips to control your home insurance costs.

  1. Increase you deductibles.  Insurance isn’t meant to cover the small stuff.  Don’t make small claims.  Frequent claims can drive rates up.  Set deductibles as high as you can afford.  For example a $200,000 home could have a $2,000 or 1% deductible.

  2. Combine insurance policies with one insurer.  Many insurance companies offer discounts for handling multiple policies for one house hold.  Longer term policy holders may also qualify for discounts for longevity.  Discuss with your insurance agent other discounts for good drivers, retirees, or folks with good credit ratings.

  3. Improve home security while making home improvements.  Add smoke/CO2 detectors, alarms and deadbolts.  Install a backup generator or whole house surge protector.

  4. Purchase real estate in good locations.  Stay away from flood prone areas.  The City of Meridian is a pretty safe location when it comes to avoiding floods, high winds/tornados and earthquakes!   Have your home inspected before you purchase to evaluate the current condition of a home.

  5. Eliminate coverage you don’t need like earth quake or flood insurance.  If you’re not living in high risk areas for those things why pay coverage for them?  Don’t include jewelry or house hold items that are inexpensive, etc. on your policy.  On the other hand be sure to have enough insurance.  Saving a few dollars a year will seem silly if you find you’ve skimped out on your coverage that costs you thousands later.  Be sure to ask your agent lots of questions so that you know what you have coverage for and what you don’t.

     

       Best Regards,

       Realtor’s at Stewart Realty, LLC, Meridian, Idaho - Toll Free: 866-787-5445

       Search our Real Estate Website at http://StewartRealtyllc.com