By Alexis Jensen
Homeowner's insurance is something virtually every homeowner in South Carolina elects to pay for even if they are not required to do so by a mortgage company. The reason is obvious - most people want to protect their home, which is their most valuable asset.
While your mortgage company has every right to require that you purchase homeowner's insurance, they cannot dictate which company you purchase your insurance from, and this gives you the opportunity to save some real money month after month on the cost of your insurance.
Yet another thing to remember is that most standard homeowner's policies in South Carolina have restrictions as to wind damage coverage; talk to your agent about this. Also, no standard homeowner's policy covers you for flood damage. You will need to purchase separate government-sponsored flood insurance.
Most people think the most common homeowner's insurance claim is for fire damage, but surprisingly the exact opposite is the case. The most common claim, by far, is for water damage caused by a broken water pipe or a broken connection to an appliance.
If your home is over 10 years old it may pay you in the long run to upgrade your plumbing and electrical system. Ask your agent how much you would save each month if you made this one-time investment in your home and see if the numbers add up for you.
To prevent lawsuits replace or repair any cracked or broken cement walks on your property and fill in all potholes. Replace or repair any lose or rotting boards in decking or porches and make sure all railings are solid.
Install motion-sensitive floodlighting and cut all bushes back away from windows to discourage burglaries. At the same time make sure that all exterior doors have deadbolt locks and that all windows have a working lock.
A home protection system can save you 20% or even more on your monthly homeowner's cost, but check with your agent before deciding on a system as not all systems are considered equal by your insurance company.
If there is anyone 55 or older who is retired and living in the house you may be entitled to a discount on your insurance.
If no one in the home is a smoker you may be entitled to a lower rate.
Make sure that you have installed the proper number of fire and smoke alarms for the size and layout of your home. Batteries need to be replaced twice yearly. Many people make a point of replacing batteries every time they move their clocks forward or backward an hour.
Buy a kitchen-rated fire extinguisher for your kitchen.
Keep your credit rating top-notch. Your credit score affects how much you pay for your homeowner's insurance.
What about your deductible? If you can afford to increase your deductible you will save money each month on your insurance premium. Don't, however, promise to pay more than you can afford for your deductible each year.
Lastly, go online and find 3 websites that compare the prices of homeowner's insurance from different insurance companies. Using the information you have learned from this article carefully fill out the forms on 3 different comparison websites with the exact same information on each form. That's it. That's all you need to do.
Now simply choose the company with the lowest price - a company that you feel confident will still be around in 30 years if you need them - and you're done!
About the Author: Recommended sites for low rate home insurance Discount Homeowner's Insurance in South Carolina Recommended Homeowners Insurance Companies and Policies
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