Tip & How-To about Finance

Tips for lowering home insurance!

Homeowners insurance is a necessity for all homeowners, but it can be very costly. Here are a few small tips to help you reduce the cost of your annual premium for homeowners insurance.

Having an alarm system that is monitored by a central station can lower your insurance by 5% and in some cases can be even more! You need to prove to the insurance company that you have the alarm by showing a contract or bills but it keeps your house safe and can lower your insurance its a win win all around.

Smoke detectors are a necessity in every house, but did you know that just having them can lower your premium 10% as well as keep you safe in case of fire.

Some insurance companies have a discount for customers who bundle their insurance, such as having home and auto insurance with the same company.

Reconsider that swimming pool! While having a swimming pool or a big trampoline in the backyard sounds like a really good and cool idea these dangerous devices can drive your home insurance up by upwards of 10%!

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1 Answer

Is a cracked screen covered under the warranty?


Hi Abby,

Most manufacturers do not warranty "damage from handling, misuse, neglect, accident" as that is not they way their products are intended to be used. Warranties usually apply to defects in workmanship and failures not associated with the list of things above.

This is why 3rd party warranty companies such as "Square Trade" came into being. These companies will offere to extend your manufacturer's warranty to 2, 3 or more years and offer protection from the types of problems they do not cover - drops, submersion, breakage, etc. Cost is based on the product, cost, length of warranty term and extent of coverage. As long as it wasn't stolen - return all the parts of the covered device for repair, replacement or reimbursement. You can also usually insure these products as a special "rider" on your homeowners insurance, too. Contact your agent to learn about the availability and cost of this coverage.

Good luck!

Feb 25, 2015 | Tablets & eReaders

1 Answer

What is an umbrella policy?


An umbrella policy, also known as an excess liability policy, is "a separate policy that pays money to the policyholder after the liability limit on your regular homeowners insurance has been reached. Some umbrella policies defend against things like invasion of privacy, slander and libel. Generally, you have to have $300,000 in regular coverage before you can get an umbrella policy, and the more coverage you have in your regular policy, the cheaper your umbrella policy will be. An umbrella policy of $1 million in extra liability protection can cost $200 to $350 a year." -http://home.howstuffworks.com/real-estate/homeowners-insurance4.htm

Aug 29, 2013 | Finance

5 Answers

Do I really need to buy home insurance?


Yes, you really do. "Not only will a good policy save you money in the event that something happens to your home or belongings, an insurance company can also help you with other matters, like making your home more resistant to natural disasters. And though having homeowners insurance isn't required by law, mostmortgagelenders require you to have homeowners insurance in order to borrow money from them. If you live in acondominiumorco-op, you may also be required by your tenants' association to have homeowners insurance. Even if you have a relatively new, well maintainedhouse, homeowners insurance can help you in situations that may not be preventable. Say, for example, that you are having a dinner party at your house. A group of guests is gathered on the back patio, and one of the guests trips on a loose tile and breaks his ankle. You, as the homeowner, are potentially liable for the guest's injury. The right homeowners insurance policy should protect you against legal action and pay for the injured man's medical bills." From http://home.howstuffworks.com/real-estate/homeowners-insurance1.htm

Aug 29, 2013 | Finance

1 Answer

Water Damage - Stopped working


Get a new one cause the water will rot and mold inside the base plate.  Have your homeowners insurance cover the cost.

Nov 23, 2009 | RHEEM 50 Gallon FVR NATGAS Water Heater...

1 Answer

Left side of 52 inch Samsung flat screen tv is cracked,


You need to buy a new TV. Even if the screen is the only issue, it will cost more to repair it than to buy a new one, and it will take months since screens are in very short supply. Check with your homeowners insurance, it may be covered since i'm sure it was an accident and that's what insurance is for. Sorry.

May 23, 2009 | Samsung LN52A850 52 in. LCD HDTV

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