Tips To Avoid Buying A New Home That Comes With Costly Insurance Rates

Insurance Blog

Are you shopping for a new home and are worried about the cost of your homeowners insurance increasing? To ensure the new home that you buy will allow you to receive low insurance quotes, there are many things to consider, such as:

Neighborhood Crime Reports:

The higher the crime rate in the neighborhood that you are looking into, the more likely you are to receive a higher insurance rate. This is because your home will become a bigger liability for your insurance company. They may have concerns about your home being broken into, vandalised or damaged, which will give them a reason to increase your rates. So, before you shop around for a home, be sure to look for local neighborhoods that are family-friendly and have a low crime rate.

Home Security:

Home security is a major factor to look for in a new house, as this can easily reduce the rates that you receive from your insurance company. You will want to consider investing in a home that has great security. A few options are homes that are in a gated community, or that have HOA onsite security personnel, and you will want to consider in a subscription security service. These features and services can easily reduce your rates, so if your ideal location isn't the best with crime rates, definitely consider a home that has features like these.

History of Weather Damages:

Insurance companies can easily increase rates and even go so far as to deny coverage if the home you are interested has a history of damages caused by natural weather conditions. So, before you pick a home and commit to it, be sure that you know whether or not the home has ever been damaged by forest fires, floods, and even high wind speeds. Insurance companies will look into this, so you won't want to give them any reason to increase your rates due to buying a home that is in an area of town that has a history of weather disasters.

Before you commit to a home, you may find these three tips helpful, as you can take advantage of them and potentially purchase a home that will cost you much less over the years when it comes to paying your insurance rate. Not only will this help you save a good amount of money on your annual insurance costs, but it will help you avoid potential home damages, which can save you from the stress and burden of property damages. Click here for more information.


23 September 2015