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Saving Money on Home Insurance

Before you start packing up your old home or apartment and hire Maryland movers to help you get settled in your new home, you’ll want to make sure that your new residence is insured. You never know how soon after you move into your home that you’ll need to file a home insurance claim, which is why you want to get your new place protected as soon as possible. Moving can be expensive enough as it is, and there’s no need for you to pay more than you have to for home insurance.

Multiple Policies

If you already have car insurance, see if your insurance provider also offers home insurance. Bundling multiple insurance policies with the same provider is one of the best ways to save not only on your home insurance, but usually any other types of insurance that you have as well. Make sure you ask if there are any other discounts or special that you or your home might qualify for.

Buy New

If you’re buying a newly built home, then your insurance provider will probably feel that it’s less likely that something will go wrong with the plumbing, electrical and heating systems when compared to an older home. Something else to think about with newer homes is that the structure is usually in better shape. It’s quite possible for you to be able to save anywhere from eight to 15 percent on your home insurance if your home is new.

Raise Your Deductible

Raising your deductible is more than likely the last thing that you want to do, but it’s a good idea if you’re looking to save money on home insurance. Your deductible is essentially a down payment that you have to pay before your insurance kicks in. The higher your deductible is, the lower your policy will be. If you do choose to raise your deductible, it’s a good idea to have that money set aside in a special bank account, preferably one that’s interest-bearing so that you’ll always have the money on hand should you ever have to file a claim. 

Live in the Right Neighborhood

Where will Maryland movers be moving you to? If your new home is near a fire station, you may pay less for your home insurance. The same is true if you live in a neighborhood that has a lot of fire hydrants. It’s a good idea to avoid living in areas that experience a lot of thefts, but you could probably still save money on your home insurance if you have a home security system installed. Make sure that you get flood insurance if you live in an area that floods or could possibly flood.

Get Only the Insurance That You Need

You might not realize that your home insurance policy has a protection limit for your personal property, and you also might not realize that you can adjust that amount. Only get as much protection that you need. It’s best that you make a list of all of the valuables in your home, show that list to your insurance agent and work with them to decide how much protection you need.

Only pay as much as you absolutely have to for your home insurance policy. Sit down with your insurance agent and discuss all of your options and make sure that you’re getting all of the coverage that you and your home need.