Secrets to Lower Home Insurance Premiums
When you're hunting for a house, the cost of home insurance is probably at the bottom of your shopping list. But you should probably move it up a few notches. Sue and Joe Davis learned this when they went house hunting recently. While Sue loves old Victorian homes, he loves new, freshly built ones. Obviously, maintenance and renovations are cheaper on the latter, but the Davis' Realtor told them that buying a newer home could also save them money on home insurance.
Why? For starters, insurance policies are cheaper if a home's electrical, heating and plumbing systems are less than 10 years old. The Davises are looking in California, so buying a wood-frame home in that earthquake-prone area could also save them money. Factors like that could lower their insurance premiums by 10 percent, according to the Realtor.
Here are more ways to lower your home insurance premiums:
