When most people think of home insurance, they think of the huge expense that goes along with it and assumes that it’s something you have to pay for whether you want it or not. But home insurance doesn’t have to be expensive, as long as you know what steps to take before signing any contracts. So before making any decisions about your New York City home insurance policy, learn more about how you can save money on coverage and which additional features you might want to consider purchasing.
Know Your Neighbors
Get A Large Deductible
One way you can save on home insurance NYC is by opting for a higher deductible. This means that instead of paying, say, $500 or $1,000 toward a claim (out of your pocket), you’d pay closer to $2,000 out of your pocket before your insurance kicks in. Having more money on hand may sound scary, but it makes sense from an insurance standpoint because higher deductibles mean lower premiums.
Get Renters Insurance
The Best Part?
Purchase Multiple Policies Through One Company
Ask About Discounts
Choose Your Policy After You've Paid Off Loans And Credit Cards
Once you’ve paid off your loans and credit cards, it’s time to start shopping around. While most mortgage companies are required by law to offer you homeowners insurance as part of your loan, many times those policies cost more than they should. A good place to begin shopping is with a local independent agent who can walk you through all of your options. Remember, just because it’s an independent agent doesn’t mean they’re necessarily cheaper or less qualified – talk with a few different agents so that you get a sense of their processes and level of expertise before committing. And don’t forget to ask about discounts!
Shop Around Twice Per Year
When it comes to insurance, shopping around might be a good idea. Some agents have captive agents that work exclusively for them, which means they don’t show you all available options. You could be missing out on lower rates from other providers or additional coverage from their competitors. Make sure you shop around twice per year – or at least once every six months if your situation is especially urgent – and you could save yourself hundreds of dollars each year on a home insurance policy.
Let Them Do The Hard Work
If you’re moving into a new home, it might seem like buying home insurance is an ordeal. After all, figuring out how much coverage you need and what deductible is right for you isn’t simple. And if your home hasn’t been built yet, that makes things even more difficult: You won’t have an existing policy to reference or an established history with any insurer. But don’t let those complications scare you off! Home insurance is one of those times when it pays to have a broker on your side. He or she can help make sure you get enough coverage at a price that works for your budget and start saving before move-in day.