Although the high cost of homeowner’s insurance may seem to be a financial burden, a good home insurance policy does not have to break the bank.
The price of home insurance can be affected by several factors, including age and property size, as well the possibility that you live in an area susceptible to natural disasters such as flooding or storms.
Water damage is one the most common causes of insurance claims. Therefore, it’s important to make an effort to prevent water damage and monitor for leaks. The 22 percent of homeowners who file claims for water damage each year are caused by plumbing. It also accounts for 25 per cent of all the claim dollars that insurance companies pay. This is the second most common type of damage.
How can you monitor for leaks? Technology in the FloLogic systemIt acts as a circuit breaker for the plumbing system. The system monitors your home’s water supply and turns off water when there is a problem. Homeowners who have installed the FloLogic sytem could be eligible to receive a discount on their insurance.
Visit this site to learn more about the FloLogic system. www.flologic.com.
There are other smart ways to save money when you insure your home.
Remodel Your Home
Many insurers offer discounts for homeowners who have upgraded their heating, plumbing, and electrical systems. Your chances of getting lower premiums may be increased by installing a home security alarm system.
Get More for Your Money
You will pay less premiums if you have a higher deductible. This is the amount you pay for damages to your home. You should be prepared to pay up to $1,000 for damages. This will allow you to save money on your insurance claims.
Shop around
Find out more about home insurance rates and complaints about price, customer service, and other issues. There are many places online that offer insurance quotes. You can also read customer feedback. It may be worth paying a little more to get home insurance from a company that has mainly positive reviews.
Double up
You might consider using the same company to get home and auto insurance. You may be able to get a lower rate on your home insurance if you have auto insurance or any other type of insurance.
