3 Ways Your Next Home Can Lower Your Insurance Premium
When shopping for a new home, not only do you have to worry about the cost of your home, but the expenses that are included when being a homeowner. A major expense that you have to include in your home purchase is the cost of your homeowners insurance. This cost can be a big expense and you will likely be required to obtain this coverage by your mortgage lender, which is why you may want to consider ways to save on your insurance premium. To ensure your new home comes with affordable insurance coverage, there are a few things you will want to consider, like finding a home that is:
Near a Fire Station:
If your home isn't at least within a 5 mile radius of a nearby fire station then you can end up paying 20% more on your homeowners insurance premium. This is a staggering price increase and can add up tremendously over the years. To maximize your insurance savings, be sure to seek a home located close to a fire station as this can keep a great deal of money back in your pocket when paying for your insurance.
Located in a Safe Community:
Before shopping for a home, it is important that you find a neighborhood that has a low crime rate. Buying a home in a safe neighborhood that has a low crime rate can lower the chance of you experiencing vandalism and home break-ins. Because you are less likely to deal with property damages and theft your insurance provider won't see you as a big liability, which can end up in you receiving lower insurance premiums. So, be sure to check out crime rates and reports before deciding on a community to move into.
Equipped with Security Features:
Buying a home that has many exterior lighting fixtures and a motion detector can end up saving you big on your insurance costs, which is why it is a must to look into a modern home that provides these lighting and security options. With a good deal of exterior lighting and a motion detection system, you will be able to provide additional security against home invasions. Your insurance provider will definitely take notice of these features when looking over your home and will likely provide you with a lower insurance premium.
By taking advantage of these tips not only will you be able to buy a home that is safe and secure, but you will also be able to obtain lower insurance premiums. This is because your insurance provider won't see you at high risk of experiencing home break-ins or property damages due to the location of your home. So, when shopping for your next home, be aware that the location will not only influence the cost of your home, but the insurance rates as well.
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