Homeowner’s Insurance Tips to Save you Money

Homeowners Insurance... we’ve all heard the term used while buying a home but do you really know what it is? We are here to break it down for you and to help explain some of the main points.

Homeowners Insurance gives you protection against damages to your home, protection against natural disasters, theft and other mishaps that might happen along the way.

 

Things are going great but then you realize you have a water leak upstairs that has damaged your first-floor ceilings. Time to use that homeowner insurance, right?  Before you start dialing that phone, make sure you know what an insurance claim really means and how it can affect you in the future. An insurance claim has the possibility of raising your home policy price or it could even raise the rate for the next homeowner of the property. Let me share my personal story which I definitely do not want you to make this mistake.

 

We had a small water leak and it did some ceiling damage.  I called my insurance company to talk to the claim department about potentially making a claim. After realizing my deductible and the cost for the repair that covered was about the same I decided not to go forward with a claim BUT they still noted it in my home’s history.  It is a red flag on my home’s history, may raise my rate and I did not make a claim.

 

Homeowners insurance is a MUST HAVE FOR SURE but make sure if you ever make a claim that you find out what it really means for the future. 

 

Our last insurance tip is to SHOP AROUND.  Not all insurance policies are created equal.  Inflation has become a new normal that seems to have affected our day to day living and homeowners’ insurance is no different. Shopping around every 2 years or so could really benefit your wallet!

 

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Please comment below with any feedback too or ideas for future videos.

 

It’s a big decision, we know. We’re here to help!

It’s your home your lifestyle and WE are your real estate team.

 

Brandi Cook and Vikki Crossland

Meybohm Real Estate

 

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