Hi, My Name's Liesel

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Hi, My Name's Liesel

When I left home and bought my first car, I was surprised that I needed to buy my own car insurance. At first I thought it was no big deal. When I went to buy my policy, though, I was suddenly lost. What did all these terms mean? How big should my deductible be? What did I need to legally drive my car, and what was just extra? Luckily, there are lots of resources out there! In my case, a very helpful insurance representative walked me through everything and helped me find the best policy for me at the time. I'm still no expert, but I have learned a lot in the past few years, and I hope that this knowledge can help someone at least a little bit.

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Four Tips For Lowering The Cost Of Home Insurance

22 January 2016
 Categories: Insurance, Blog

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Having home insurance is essential when you own a home. You never know when damages to your home or an accident involving someone getting hurt on your property can occur. In order to protect yourself from the cost of a lawsuit or the cost of paying out of pocket for extensive damages, you will want to have home insurance. If your home insurance is too expensive, consider these four tips for lowering the cost:

  1. Pay Off the Mortgage: Paying off the mortgage can take years, but if you are able to pay it off sooner, you will reap the benefits of lower costs in home insurance. Home insurance companies trust homeowners who own their home outright to take better care of it, thus lowering the cost of their insurance. Consider meeting with a financial advisor who can help you get on the right track to paying off your mortgage successfully. 
  2. Install a Security System: Installing a security system is a quick and easy way to save money on home insurance. Although the initial installation cost for a security system is high, you can save much more within the next year on your home insurance. Home insurance companies like to see that your home is better protected from the chance of burglary. This means that there is a much lower chance that you will have to file a theft claim against your home insurance. 
  3. Keep Good Credit: Having poor credit can increase the cost of your home insurance once you renew the policy. Home insurance companies don't like to work with those who have poor credit because there is a higher chance of those with lower credit not making their payments on time. 
  4. Don't Include the Land: When you insure your home, your insurance company may ask if you want to include insuring the land, as well. However, if you are trying to save money, then insuring the land is not necessary. The land cannot be damaged extensively enough anyway to put you in debt to put in back in the best condition possible. You should care more about guaranteeing that your home can be replenished even with extensive home damages. 

By following these tips, you can lower the cost of your home insurance so that you can definitely keep up with the payments. Talk to a company like Hamlin Robert & Ridgeway Limited to make sure that your home is adequately covered and you are protected financially in the event of a disaster.