After struggling for years with an incredibly expensive insurance plan, I realized that there had to be something that I could do to make things right. I started shopping around for a business that could help me to make things right, and I was able to find an insurance policy that fit well with my budget and my lifestyle. The premiums were low and the coverage was great, which is almost unheard of these days. This blog is all about choosing incredible insurance coverage for you and your family, so that you can enjoy a happier, healthier life. Check out this blog for more information.
Buying a home comes with a lot of costs. One mistake that new homebuyers often make is failing to consider the cost of homeowner's insurance along with the mortgage rate and other costs. Your home insurance is an ongoing cost of homeownership, and you want to make sure that your insurance rate doesn't cause the total cost of homeownership to exceed your budget. There are a few things that you can keep in mind while shopping for a home that will help keep your home insurance premiums low.
Consider a New Build
The safer and more well-built the home is, the lower your insurance rates will be. A newly built home is going to be in compliance with the latest and most up-to-date safety codes, while an older home may not be. Therefore, newly built homes are often less expensive to insure.
Of course, there are other factors that may make a new build less desirable for you. But if you're deciding between two homes that are similar in price, size, and location, but one is an older home and the other is a new build, the newer home will probably be cheaper to insure. That difference in premiums may be enough to convince you to choose the newer home.
Consult the Crime Statistics
Location may be the first rule of real estate, but it's also a pretty good rule when it comes to insurance. The safer the location you live in, the cheaper your home will be to insure.
Check the crime statistics in the areas that you're thinking of buying a home in and try to focus your home search on the neighborhoods with the lowest crime rates. There are a lot of good reasons to want to live in a neighborhood with less crime, so getting a lower insurance rate might just be a nice bonus.
Don't Buy More Space Than You Need
It's easy to correlate the cost of the home with the cost of your insurance in your mind. But the insurance company isn't concerned with how expensive your home is to buy, they're concerned with how much your home will cost to rebuild. That means that a bigger home will most likely cost more to insure than a smaller one, even if the smaller one costs more based on factors like location. Therefore, if you're torn between a home with more square footage and a smaller home with a better view or near a better school district, going with the smaller home could save you money on your insurance.
That means that it's important to really consider how much space you need, because you'll be paying to insure all of that space as long as you own the home. While you don't want to cram your family into a home that's uncomfortably small for the sake of your insurance premiums, deciding against a home with more space than you need could be a good financial decision.
While insurance premiums shouldn't be the only factor in your decision-making process, it can be an important factor, especially if you live in a state with high insurance premiums. You have the most control over what factors will affect your insurance rates during the time that you're shopping for a new home, so keep those factors in mind while you look. Contact an agency, like Angel Auto Insurance, for more help.
Share24 April 2018
