Home Insurance Tips you Need to Know!

A home is the single biggest financial investment a Canadian, like yourself, will make in your lifetime. As a homeowner, insuring this investment is essential. No matter how new your home is or how well it is built, it is still vulnerable to fire, theft, and damage.

Insurance offers homeowners the protection they require in times of need. If an unexpected tragedy strikes, you will have peace of mind knowing that the largest source of equity you hold is covered. We have a few tips on how to keep your insurance up to date and your premium at an affordable level!

Know your Risks:

Home insurance will pay to rebuild your home if it is destroyed in a fire. It can also cover the cost of a new roof if yours was destroyed in a wind storm, or the medical bills of a friend that tripped down the stairs and broke their leg.

To make sure that you have the right coverage for your house, you definitely need to know your risks! For example, if you are paying for flood insurance, yet your home has no risk of being flooded.

However, some things can’t be removed off of your policy even if you don’t need them. It is best to come in and chat with you agent about your risks.

Shop Around:

Everyone is aware that you should shop around regarding home insurance, but lots of people think it is time consuming! What you don’t know is that Baron’s home insurance agents do it all for you! We will shop around with different companies and quote your home with the coverage you require. Our biggest accomplishment is finding you the correct coverage at the best price!

Read the Fine Print:

Although home insurance policies can be confusing, that is no excuse to avoid reading your policy. We know that insurance can be confusing and hard to understand, but at Baron we love insurance! If you don’t understand your policy and need extra explanation about the coverage you have or may need, come talk with us today!

Install a Sump Pump or Alarm System:

Not only can methods like these reduce the chance of damage or you filing a claim, they can also decrease your insurance premiums. Insurance companies will honor homeowners who have installed home security or water mitigation prevention with discounts that can help you save.

Make Home Improvements:

Insurance companies determine how much your annual premium will cost after they analyze the risk of damage to your home. If you have an older home, and have not done many home improvements you may be at risk. Older electrical wiring can bring on a fire or outdated plumbing pipes could burst resulting in a flood.

By doing some home improvements or hiring professionals to come in and fix up your home can decrease your premiums substantially. You could also see reductions by adding safety features such as a backup generator or carbon monoxide detector.

Whatever form of improvement you do, whether adding a new room or building a shed, make sure to tell your agent!

Ask for Discounts:

Quite often insurance companies will offer discounts for a variety of different things. You could get a discount for safety features, claims free, being a senior, or having a good credit score. Ask your agent today to see if you qualify for a discount.

Increase your Deductible:

The quickest and easiest way of decreasing your annual premium is to increase your deductible. A deductible is the specific amount of money that the insured will pay before the insurance company will pay for your claim. You may not want to pay a $1,000 deductible, but if it decreases your home insurance premium amount, you may change your mind.

A knowledgeable insurance agent is your best option in finding affordable insurance that covers your needs. Our brokers are able to advise you about your options and to explain your policy.

At Baron Insurance we want our clients to enjoy life and peace of mind knowing you’re protected just in case! Contact us today.

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