The home insurance Regarding their cost, they vary according to each state and its area, however the average cost nationwide is 964 dollars, but you must bear in mind that the insurance rate have increased and continue to increase for 10 years in all USA.
Highest average cost of home insurance
Since there are areas within the United States where home insurance have a higher cost than others for various reasons, states that are more expensive to insure a home are the most susceptible to large-scale natural disasters.
For example, two states that are victims of major hurricanes in the Gulf of Mexico What Lousisiana Y Florida they are the most expensive.
Statistics show that in the first place there is Florida with a cousin of 1471 dollars, Oklahoma with a premium of $ 1,413, Louisiana with a premium of $ 1,391, Connecticut with an average premium of $ 1,329 and last Colorado with a premium of $ 1,298.
These are the 5 states with the highest costs for home insurance.
Lower average cost for home insurance
As opposed to the most expensive states to insure a home, the five cheapest states to buy home insurance are all places where you can avoid earthquakes, hurricanes, tornadoes and other natural disasters.,
For example, 4 of these states are in the middle western part of the United States (in the northwest) and are Oregon, Idaho, Nevada and Utah, in fifth place is Wisconsin, whose large cities such as Green Bay, are considered very low risk in terms of dangerous and natural events.
In Oregon the average premium is $ 856 while in Utah the average premium is $ 672.
In Idaho, the premium averages $ 713, in Nevada, the average premium is $ 718, and in Wisconsin the premium averages $ 735.
How to reduce the cost of home insurance:
In addition to the area where the home is located, the price you pay for your home insurance can also vary by hundreds of dollars, depending on the insurance company where you buy the policy.
So consider asking your friends, checking the yellow pages, or contacting your state insurance department.
The national association of insurance commissioners can help you choose the insurer in your state, as states report the rates charged by major insurers including complaints.
You can also consult the insurance agents, the consumer guide and the online insurance quote services, then you will have an idea of the price ranges and you will know the companies that have the lowest prices.
But don’t just consider the price, as the insurer must offer you a fair price and the quality service you expect when you file a claim.
So when evaluating the quality of service, use the information you received about complaints and talk to various insurers to get an idea of the type of service they offer and ask how they help you reduce costs.
Check the financial stability of the companies, then when you have narrowed the options to three insurers, get price quotes.
Increase your deductible:
Deductibles are the amount of money you must pay for a loss before your insurance company begins a claim under the terms of your policy.
The higher your deductible, the more money you can save on your premiums. Most insurance companies recommend a deductible of at least $ 500, but if you can increase your deductible to $ 1,000 you can save 25%.
Remember if you live in an area prone to natural disasters. your insurance policy may have separate deductibles for certain types of damages.
If you live near the east coast, you can have a separate discount for heavy storms.
If you live in a state vulnerable to hail storms, you may have a separate deductible for hail and if you live in an earthquake-prone area, you may have a separate deductible for earthquake.
However, do not confuse what you pay for your home with rebuilding costs, as the land is not at risk of theft, windstorm, fire or other perils covered in the insurance policy.
Therefore, do not include its value when deciding on insurance for your home, since then you will pay a higher premium than you should.
On the other hand, buy the policy for your house and your car in the same insurer, as some insurance companies will sell you the insurance for your house, car and civil liability at a discount when buying two or more policies, but make sure that the The price of these combined policies is lower than if you buy the coverage in different companies.
You can even take steps to secure your home and make it more disaster resistant. Find out from your insurance agent or company representative what you can do to make your home more resistant to natural disasters.
Well, you can save on the premium by securing the windows with shutters, reinforcing the roof or buying stronger materials for the roofs.
Older homes can be retrofitted to withstand earthquakes, and consider upgrading your heating, plumbing, and electrical systems to reduce the risk of fire and flood damage.
By improving the security of your home, you can get discounts of at least 5% by having a smoke detector, an alarm, since some companies offer a lower premium of up to 15 or 20% if you install a sophisticated burglar alarm and fire that can alert the police or monitoring stations.
These systems are not cheap and not all systems qualify for a discount, so before buying such a system, find out what the insurer recommends, what the price of the device is, and how much you would save on premiums.