Charles Goodman Group: Experienced Bedford Insurance Broker
When new homeowners complete their real estate purchase, their out-of-pocket expenses are considerable. Adding another bill onto the monthly budget seems impossible, but homeowner’s insurance is an incredibly important item. The home is normally worth thousands of dollars, so any damage to it is often expensive. Affording homeowner’s insurance takes some clever research and evaluation of the resident’s needs. With a helpful Bedford insurance agent, the perfect policy is just waiting for the new owners.
One of the best ways to reduce any insurance costs is bundling. Insurance companies typically work with several coverage types, including home, auto and life. If homeowners need any of these other insurance types, use the same provider for discounts. Bundling offers some percentage off all the policies, making it affordable for most households. Even adding on other family members helps the policies drop in cost. Simply talk to the insurance agent to fully understand all the rules.
Any insurance policy cost often depends on the deductible amount. A low-cost deductible usually means a higher premium. Policyholders are essentially asking the insurance to fully cover possible claims. To reduce the premium amounts, increase the deductible.
A trusted Bedford insurance agent from the Charles Goodman Group can assist you with any questions regarding health insurance or property insurance.
Although it asks for a large out-of-pocket sum, such as $1,000, the lower premiums allow homeowners to save up for these unexpected claims. All insurance policies have a minimum deductible so find out the amount to work the premium into monthly bills.
If a real estate transaction cost $300,000, the insurance value doesn’t need to equal the same amount. When homeowners purchase the property, they’re paying for the land and structure. Homeowner’s insurance usually covers fire and theft to the structure. The land isn’t part of the equation. As a result, the insurance cost is much lower because it only takes the structure’s value into consideration.
Work closely with the insurance agent to create a loyal relationship. Long-term policyholders often have lower premiums because they’ve remained loyal to the company. In essence, they’ve paid into the system for many years. If a claim does arise, homeowners have paid for their policy several times over. The payout is fair and premiums shouldn’t be raised too high for the next policy year because of this loyalty.
Keep communication open between the insurance company and homeowners to fully understand everyone’s role in a claim process. Knowledge is the key to making the most out of an insurance policy. If there’s a glaring omission, deal with it immediately before a claim is even necessary. Insurance is there to help homeowners maintain a healthy household.