5 Secret Ways To Save Money On Home Insurance The Companies Won’t Tell You About

By • Sep 17th, 2012 • Category: Insurance

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Insurance (Credit: C. S. Penn)

When you get your home insured you might be paying a lot of money. That can definitely hurt your wage packet at the end of the month. Did you try to get a discount? Maybe you installed a smoke detector so they would look more favorably at your application. If you really pushed the boat out you could have installed a security system. That’s really going to scare away the intruders. How could it not save you money?

Those are all great and I commend you for trying to save money, but they don’t do much. They aren’t going to make your insurance company turn around and give you a massive 20% discount which can really help you out. The insurance companies will usually have hidden credits. Sneaky little ways you can save money if only you’d known about them. Well now you can, because we can go over some easy ways to guarantee you save some money on home insurance.

Do you live in a gated community?

Home insurance companies love this. Because there’s an extra layer of protection intruders have to get through, they know it’s much more unlikely that any burglaries will happen. This is great news if you live somewhere behind closed gates. It’s not much use if you don’t. You don’t usually get much gated communities in the bad parts of town, so you should definitely point this out to the insurance company for a discount.

Re-wire your home

If your home is old it will most likely have lots of old wiring. Maybe it’s never been updated. This poses a serious problem for you, because there is a much greater risk of fire and your insurance premium will reflect this. The only way to get around it is by having your home re-wired. Don’t touch anything yourself unless you are a qualified electrician, or you probably won’t get any insurance. Electrical fires are common, so be safe and save money.

Secure your roof

Your roof will take an absolute beating from the bad weather. Once something happens to it your roof it is compromised. It will definitely add a lot onto your monthly premium. There are lots of impact-resistant roof materials coming out these days. If you have it installed on your house there’s less chance of the roof being damaged which can lead to all sorts of problems inside the home. You might find your insurance company will offer you a discount if you give your roof a nice hard shell.

Don’t claim any money

Your insurance company will pay out any money with gritted teeth. Even though they may tell you they love helping people, they really don’t. Their job is to make money; not spend it. That’s why you will get a discount if you have not claimed over a number of years. For this reason you should refrain from making a claim unless anything serious has happened. If you had a window broken it might save you much more money over the long run if you were to pay a few hundred dollars and have it fixed yourself.

Newer is better

If you were to try and insure a brand new car you’d expect to pay more money than if you insured an older model. The new car has a much greater chance of being stolen. But it’s completely reversed when we’re talking about homes. If you have just renovated the house it’s obvious less things will go wrong. Pipes have less chance of springing a leak. Microwaves have less chance of exploding. The newer your home, the less money you will pay.

Nickel Keat provides remarkable financial suggetions. He recommends Singapore Insurance from DirectAsia for those who seek reliable and efficient travel insurance.

 5 Secret Ways To Save Money On Home Insurance The Companies Wont Tell You About
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