Homeowners insurance protects you financially when bad things happen to your home. Things like fires, lighting and wind can happen any time. Home insurance provides these things, and more. In fact, it provides coverage for structures like your house, toolshed, or gazebo – and even your belongings. That’s right, your TV, washer/dryer, couch, electronics, are all covered with a home policy. It could even help pay for a guest’s medical bills if they’re hurt on your property. Plus, you can add additional protection for things like jewelry, collectibles, and artwork. So it can pretty much cover your home AND all your stuff.
Just because your home costs a pretty penny doesn’t mean your insurance has to. We actually want you to save money. Imagine that. There are many ways to save on home insurance, it just comes down to getting the right discounts.
If you’re moving into a new home, you could get a discount right off the bat. Seriously. There are more discounts too! And most are pretty easy to get.
Get a discount if your home has smoke detectors, fire alarms, burglar alarms or other qualifying devices.
First and foremost: estimate your house’s rebuilding cost. That’s about how much your dwelling coverage should be. A home appraiser can do a walk-through and determine how much it would cost to rebuild your home from the ground up.
Next, take an inventory of everything you own and how much it’s all worth — that’ll help give you an idea of how much personal property coverage you may want to consider.
Then there’s your liability coverage. Say someone’s injured on your property and sues. Liability can help can help pay for both medical and legal bills. Or if your kid’s stray baseball breaks a neighbor’s window, it could also help cover repairs.
You might often hear phrases like your “net worth.” That refers to the sum value of all your investments and everything you own. If you’re ever sued, all of these things might be at risk. But liability coverage can help protect them.
Getting a homeowners quote is actually very simple. Mostly what you’ll need are the basics — things like your address, marital status, purchase date, etc. You might also need your home’s square footage. Usually you can get that from your appraisal report, real estate agent, or on websites like Zillow and Trulia.
Other things that are helpful to know are your home’s safety features. Are there deadbolt locks on all exterior doors? Smoke alarms on every floor? What about burglar alarms or fire sprinkler systems? All of these could help you save money on your premium.
A homeowners insurance policy can provide a financial safety net in the event your home or belongings are accidently damaged. It usually covers other structures on your property like tool sheds or garages. It could also help with medical or legal expenses if someone gets hurt on your property. Plus, most mortgage lenders require you to have it. Most home insurance policies last for one year and renewal statements are sent out before the policy is set to expire.
Insurers look at many variables when calculating your premium. The basics include your home’s age, materials, and rebuilding cost.
There are also certain risks that can end up increasing your premium. These are what insurers call “attractive nuisances.” Think trampolines, swimming pools, and tree houses. They’re attractive in that they’re, well, attractive and fun. And they’re a nuisance because they can be dangerous, especially for young kids. The safer you make them (pool covers, fencing, and locks), the more likely you can help reduce their effect on your rate.
The 2 main perils that aren’t covered by homeowners insurance are floods and damages caused by ground movements (earthquakes, mudslides). But separate coverage for either is available in most states — get a flood insurance quote through an IronPoint partner, just ask your agent.
Things like mold or termite damage are also typically not covered by home insurance. That’s because they’re considered maintenance issues, and maintenance is considered the homeowner’s responsibility. But there are exceptions. If the mold was the result of a burst pipe, then it might be covered. Why? If a burst pipe suddenly and unexpectedly wreaks havoc on your house, standard homeowners insurance could help cover plumbing repair and replacement bills up to the limits you choose for your policy. If termites chew through wires and cause a fire, your homeowners coverage could likewise step in to help pay for the damages since fire is also a covered peril under most policies.
Owning a home can be pricey. We get that. That’s why we work hard to offer you the best coverage at the best price. And we believe that homeowners who take initiative deserve to save. For example, if you’ve outfitted your home with security features (burglar alarms, smoke detectors, water safety systems), you could save on homeowners insurance.
Check out homeowners insurance discounts.
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IronPoint Insurance Services, LLC is an independent insurance agency licensed (#0G87821) with the California Department of Insurance. We are authorized agents for many A+ rated Arizona, California, Colorado, Nevada and Utah insurance companies. We provide consumers with online, phone, and in-person insurance services through our insurance company relationships.
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