Home insurance in Huntsville isn’t mandatory (except for mortgage lenders who may require you to have proof of insurance) but it does a world of good if anything unexpected happens. Without home insurance, you’ll likely be looking at some rather substantial bills for repairs or replacement.
If you are looking to purchase your first home or noticed that your existing home insurance rates have increased, you might be in the market for ways to save money. Our home insurance brokers at Acera Insurance have the knowledge and tips to help you find the best coverage at the most affordable price. Remember, “cheap” is not always synonymous with great coverage. So, we can help you find a home insurance policy that give you peace of mind but doesn’t break the bank. Read on for some budgeting 101 on your home insurance in Huntsville.
If you’re still shopping for a home, look at newer construction
If the cost of your insurance is a serious consideration, be mindful of the age of the prospect home you are looking to buy. If you are vying between something that is older and a newer construction, opt for the latter as home insurers tend to reduce premiums or give discounts for newer constructions. Newer builds generally include warranty, and repairs are easier to do in the first few years of ownership. This may mean a homeowner of a newer home is less likely to make a claim.
Be conscious about your coverage options and work with a broker
Acera Insurance home insurance brokers in Huntsville know homes — and they’re ready to work with you to find solutions based on your personal circumstances. With the average sold price of a home in Huntsville being around $536k, we know how important it is to insure your home for its value. You don’t need every coverage option available on the general market, and our brokers will never pressure you into buying more than you need. Sometimes, all you need is “enough;” anything more may mean dishing out extra per month for your premiums for coverage that isn’t applicable to your needs.
Ask about mortgage-free discounts
If you are purchasing a smaller home or have set aside a considerable down payment for your new home, you may be able to go mortgage-free. By doing so, many insurers will qualify you for a mortgage-free home insurance discount, which allows you to save a little extra each month. Note that if you do have a mortgage, most mortgage providers will require you to show proof of insurance, and they may even have requirements as to what coverage options you must carry.
Avoid making unnecessary claims where possible
Small scrape? Broken window? You don’t need to make a claim for every small bit of damage that occurs in your home, especially when you can fix it yourself. Usually, your insurance premiums will rise with each claim after your first (depending on your provider, the first claim may be waived).So, the more claims you make, the higher your insurance premiums will be.
Consider smoke detectors, carbon monoxide alarms and security systems
Smoke detectors, carbon monoxide alarms and self-monitored home security systems offer your family better peace of mind — plus they may qualify you for home insurance discounts. Our home insurance brokers can advise on approved systems that may reward you with a reduction on your premiums.
Other devices that can help reduce your chances of having to make a claim (and, therefore, help keep your premiums from increasing) include installing a backwater valve, sump pump or storm shutters. If flooding should occur, a backwater valve and sump pump can reduce= your chance of having to make a water damage claim. Storm shutters can be used to improve your home’s resistance against high winds or hail damage. Ask your broker for more suggestions based on your personal circumstances and location on how best to make your home more “damage-resistant.”
Bundle policies
Many home insurance companies in Huntsville also offer car insurance or other products, and may reward you if you bundle multiple insurance policies through a single provider. Consider switching to a single provider for easier organization and a slight discount on your premiums.
Raise your deductible amount
So long as you are comfortable with paying a higher out-of-pocket amount in the case of a claim, you can choose to raise your home insurance deductible. The deductible is the price you will pay in the event of a claim before your insurance provider steps in to cover the remaining amount. Typically, home insurance deductibles in Huntsville range between $$500 – $1000, but you can elect to carry a higher deductible. Again, keep in mind how you feel about paying more out-of-pocket in exchange for a lower premium each month.
Work with a broker and shop around for options
With natural disasters and insurance claims on the rise due to extreme weather in Ontario and Quebec, home insurance is more important than ever.
Acera home insurance brokers in Huntsville are here to help you survey your many coverage options. With access to competitive quotes from top-rated home insurance companies in Huntsville, our experts can expedite the process for getting insurance and find you great coverage for less. Our brokers always put your needs first, so know that their advice comes from a place of heart.
Start today by getting a free home insurance quote in Huntsville. It’s free to do, there’s no obligation and it helps you get started more quickly on great home insurance coverage..