Tips For New Homebuyers To Buy Home Insurance

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Tips For New Homebuyers To Buy Home Insurance
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• To buy a home is a dream of most of all person.
  If you are newbie then it can be very difficult
  to the process. From selecting the desired
  picture-perfect home at the right price, taking
  decision that have long lasting consequences,
  including increasing rate of house insurance
  premium. Most of all insurance companies says
  that they are offering home insurance policies at
  the lowest price but there are so many things to
  consider before buying home insurance.
• In this ppt we will discuss about the factors
  that affects the premium of home insurance policy.

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Factors That Affect Home Insurance Premium

1. Location plays a prominent role in deciding home
   insurance premium if live in remote area, you
   will pay more insurance premium than if you live
   in a safe city.
2. Location lies in flood zone- If your house lies
   in higher risk flood zone then you will have to
   buy a particular separate flood policy for your
   home as basic home insurance policy doesn't cover
   flood but comprehensive home insurance policy
   does.
3. Lack of Fire stations and hydrants- Home
   insurance premiums rises if there is no fire
   stations or hydrants near your house location.

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Ask About The House-age

• If you have selected the house then you should
  ask about the age of house. How many times its
  roof was replaced since then. How many times
  plumbing, electrical equipments and HVAC systems
  were modified? It will impact the insurance
  premium.

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Pooling Your Resources

• If your house includes a swimming pool then the
  house insurance premium will be greatly increases
  because of the risk included with the swimming
  pool. You are responsible if any trespasser or
  guest falls into the swimming pool meet with any
  unlike situation or event. The swimming pool
  increases your liability coverage on your house.
  You will have to increase your liability coverage
  to secure against such event.

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Tips to Save on Home Insurance

• Search around to get the home insurance quotes
  from various insurance companies and choose the
  best home insurance quote.
• Think upon purchasing the home insurance policy
  and auto insurance policy from the same general
  insurance company. Most of all the insurance
  companies offers some discount to the customer
  who are going to buy the both policy.
• Raise your deductible It is the amount you
  agree to pay out of pocket on a claim. All other
  things being equal, raising your deductible can
  lower your premiums.

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