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Oct 2

How to Get the Best Car and Home Insurance

   When you’re buying a car or a house it is best to start looking for insurance as soon as possible, as formalities may take a while, depending on how big the purchase was. After finding a good insurance company, there are a few details that your agent will need to know in order to determine what the best insurance package is for you.

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If, for example, you’re looking to insure your home, you’ll need to know the following things: what year the house was built in, what type of roof the house has, how old the plumbing and electrical are, the square footage and location of the house. Some agencies may refuse to insure the home if it’s in a rural area with no fire department or hydrant nearby, so you’ll have to make inquiries at a surplus-line company, which will probably mean an even longer wait for a quote. However, depending on the deductible rates you choose, you can save money and get discounts from your agency. For this, you should ask your agent to increase your deductibles. Most agencies use a cost estimator to calculate replacement costs in case of damage. In case your home comes with a large lot of land, you may be surprised to find that your insurance company offers less than the sum you paid for the property. This is because insurance companies do not insure land.

Document yourself about discounts that you may be eligible to receive; if you have a house alarm system that reports to a central station you can get a discount as high as 10%. If you’re over fifty this too could mean a good discount, depending on the company, and if you get a multi-policy, getting both car and home insurance, you get a percentage discount on both policies.

Whether looking to insure a car or your home, you should first shop around for offers and see what the best options are for you. For car insurance, be advised to only register regular drivers on the policy, because a young and inexperienced driver decreases your policy’s value; besides, you can always add someone on the list for a few days if they need to drive the car. According to your own needs, agree to have a mileage restriction policy, as this will save you money. This is true only if you indicate an honest number of miles you drive each year, because exceeding the limit can affect future claims you may have. If you can, keep your car in a garage, this will ensure a longer life and less risk of damage for it.

Car and home insurance is something we all need and it’s a smart solution that saves you a lot of time and headache in case of damage, disaster or other trouble.

 

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