Owning a home is the American dream. Homeowners insurance protects your dream. Homeowners’ insurance policies typically cover loss, destruction, and damage to a home’s interior and exterior, as well as the loss or theft of possessions and personal liability for harm caused to others. Policy premiums are largely determined by the insurer’s risk that you will file a claim; this risk is assessed based on previous claim history associated with the home, the neighborhood, and the condition of the home. Homeowners insurance also includes liability coverage for loss or injury to others you might be liable for, in and around your home.
Owners who do not have home insurance may face high repair costs. According to HomeAdvisor, the average cost of a roof replacement is between $5,346 and $10,645. Consider spending that much money out of pocket following a storm. For your new roof, you only need to pay a deductible (usually around $500) if you have home insurance.
How To Save On Your San Diego Homeowners Insurance
While it is never a good idea to skimp on coverage, there are ways to reduce insurance premiums.
Consider Your Deductibles
The higher the deductible, as with any insurance like auto insurance, the lower the annual premiums. However, choosing a high deductible means that claims/problems that typically cost only a few hundred dollars to fix, such as broken windows or damaged sheetrock from a leaking pipe, will almost certainly be absorbed by the homeowner. Your agent can help you review this option.
Ask For Policy Discounts
Many insurance companies offer discounts for loyalty, security systems, having no claims, sprinkler systems, nonsmokers, and updating your roof and siding.
Understand The Limitations In Your Homeowner’s Insurance Policy
Most policies don’t cover; acts of war, flood, earthquake, wear and tear, mold, pollution, and damage caused by insects.
Ask Your Agent For a Regular Review
An annual review can provide the peace of mind that you have the coverage you need and get the best possible price and service. Perhaps you dismantled the trampoline, paid off the mortgage, or installed a security or sprinkler system. If this is the case, simply notifying the insurance company of the change(s) and providing proof in the form of photos and receipts could result in significant savings in insurance premiums.
Look For An Agent Who Will Partner With You
Your agent can be your best bet in getting the right home insurance at the right price. Your agent should have many markets to select from and help you understand your purchase, then be there for you in the event of a loss.
Don’t Look At Price Alone
The annual premium is frequently what drives the decision to purchase a home insurance policy, but don’t base your decision solely on price. No two insurers offer the same policy forms, terms, conditions, limits, and endorsements, and policy wording can vary greatly. Your agent can provide a comparison for you.
Your homeowner’s insurance policy is intended to keep more of your money in your pocket in the event of a disaster, but that doesn’t mean you’ll enjoy paying your premiums year after year. Fortunately, by comparing home insurance quotes, you can keep those premiums to a minimum.
Your home insurance costs vary depending on where you live, the size of your home, and what you own. The only way to ensure you’re getting the best home insurance deal is to get multiple quotes from different providers.
Curious to know how much you could be saving on San Diego Home Insurance?
Dial (619) 276-0492, and the Wayne McCormick Insurance team will help you get the comprehensive homeowners or renters policy that your need.
- Compensates you for losses to your home and possessions
- Provides added security for your investment
- Extends your liability protection even further with an umbrella insurance policy
- Protects you if you’re legally liable for someone’s injuries on your property, as well as from financial losses caused by storms, fire, theft, and other events outlined in your policy