If you are purchasing a home, Rhode Island is a great place to start looking. There are plenty of things to do in Rhode Island, the beaches are beautiful, and the state has excellent school systems in their cities and towns. If you are looking for a home, visit Movoto to find beautiful homes in Rhode Island to fit in your price range.
When you are purchasing your home, you will also need to purchase a homeowner’s insurance policy. If you are like most home buyers, you are putting a great deal of money into the purchase of your house, therefore, saving money on your homeowner’s insurance is a huge plus. If you are looking to get the best deal on your homeowners insurance Rhode Island, there are a few tips that you should follow.
Carry Multiple Policies With the Same Provider
Insurance companies want your business for all of your insurance needs. Therefore, they offer discounts when you bundle multiple policies with them. For example, if you take out a car insurance policy and a homeowner’s insurance policy with the same company, you are likely to get a good deal. If the company also offers life insurance, you can save even more by purchasing that policy from the same company. When looking at insurance companies for homeowner’s insurance, you should find one where all of your insurance needs can be met under one roof. Not only will this same you money, you will also have consistency in the handling of your claims as well as in the correspondence that you receive.
Increase Your Deductible
If something were to happen to your home and you need to file a claim with an insurance company, you would be required to pay a deductible. Often times, you will get a policy with a $500 deductible. If you are willing to accept the level of risk, you can choose to pay a higher deductible should something happen, and it can save you money on your monthly home insurance premiums. For example, you can save money by choosing a policy with a $1,000 deductible rather than a $500. If you are really willing to take the gamble that nothing will happen, or if you can afford to take the financial out-of-pocket hit, you can purchase a policy with an even higher deductible amount. If you were to choose a $10,000 deductible, you can save as much as 35 percent on the cost of your homeowner’s insurance. This is something often done by someone with a multimillion dollar home, or someone who has enough cash on hand to make the repairs to the home themselves.
Install an Advanced Alarm System
Most people know fire alarms, carbon monoxide sensors, and burglar systems can help to cut their home insurance premiums. What you may not know, is that installing an advanced system will save you even more. The more advanced home security systems monitor the home home and the information is sent to a central location. When your home is being monitored 24 hours a day, there is less risk of something happening, therefore, insurance companies are willing to offer lower discounts. For example, when it comes to a fire in the home, the response time is everything. The same is true with a burglary. Action can be taken in either of these cases much faster when there is constant monitoring. Many alarm companies will say that you can save a certain percentage on your homeowner’s insurance by signing up with them. The alarm company is not the one offering the discount, therefore, you should check with the company that you are considering purchasing your policy from to know exactly how much money you will be able to save.
Be Loyal to Your Insurance Company
There are many insurance companies in Rhode Island that offer discounts of between 5 and 10 percent to long time customers. If you have found a company who is giving you a reasonable rate, you should stick with them. Don’t switch companies year after year. When looking for companies, you should check into what type of discounts they give to their long term customers. This information can help when you are having trouble choosing between two different Rhode Island insurance companies.
Disaster Proof Your Home
While Rhode Island is not famous for tornadoes like the Midwest is, there are been several, very damaging hurricanes that have come through the small state. Also, Rhode Island is part of New England, which is famous for its unpredictable weather and severe winter storms. If your home is retrofitted for these storms, you could be able to save some money for your insurance. The Insurance Institute for Business & Home Safety (IBHS) has set standards when it comes to insurance and disaster preparation. If your home meets these standards, you may be able to get a discount. For example, sealing the roof beneath the shingles and pruning the trees away from the home are accepted ways to receive discounts. This is because homes that follow the guidelines set by the IBHS are less likely to sustain damages if it is impacted by a storm. If you are looking at the discounts that the insurance offers, these types of discounts will likely be listed as “fortified home discount” or “windstorm mitigation”.
Rhode Island, the Ocean State, may be the smallest state in the U.S., but it is rich in history, culture, and entertainment. If you are going to purchase a new home, it is important that you get the best homeowner’s insurance rate possible. The above tips and can help you do that.
2 Point Highlight
If you are looking to get the best deal on your homeowners insurance Rhode Island, there are a few tips that you should follow.
Rhode Island, the Ocean State, may be the smallest state in the U.S., but it is rich in history, culture, and entertainment.
