If you're thinking of buying a home in Fairfax or Prince William County and you need homeowner's insurance, here are some few tips on getting quality insurance for a fair and reasonable price.
- Ask family and friends about their homeowner's insurance (aka hazard insurance).
- Check the National Association of Insurance Commissioners (NAIC)
- Check the state insurance department for more information
- Consumer guides, insurance agents, and online insurance quote services.
However, don't just look for lower prices. You need a fair price for the services that you need so always check what it covers and start comparing.
Raise Your Deductible
A deductible is how much you have to pay before the insurance company indemnifies your Northern Virginia home. The higher the deductible, the lower the premiums. If you live in a disaster-prone area, your policy may have a separate deductible for specific types of damages. Make sure to carefully go over damage-specific information so you won’t miss out on anything that you will and will not need.
Use The Same Insurer
Some companies will take five to 15 percent off your premium if you acquire more than one policy from them. So if your homeowner’s insurance company also offers other indemnities such as auto and liability coverage, lower premiums are usually offered. The key is to make sure that the combined price is lower than if you bought them separately or from a different insurance company.
Improve Home Security
By installing a sophisticated fire sprinkler system and a fire/burglar alarm, some companies will cut your premium as much as fifteen to twenty percent. For a smoke detector, burglar alarm or deadbolt locks, you can usually get at least a five percent discount. However, be sure to check with the insurance company first to make sure that the system you're installing will lower your premiums since these home securities aren't cheap and not all of them qualify for a discount.
Reminder: Read everything carefully before you sign and to make sure that the policy covers your insurance needs without any hidden fees.
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