If you are thinking of taking out home insurance to protect your home against a possible loss, but you fear paying a fortune for the premium, do not despair! In this guide, you will find all the tips to save when subscribing to your policy.

A lot of homes suffer some type of accident during the year, which can translate into several thousand dollars that the owners must pay in repairs.

Keeping your home safe in the summer or having the certainty that all the facilities are in good condition is not always possible and claims can arrive at any time.

Indeed, if you do not have home insurance that allows you to deal with these unforeseen events, the surprise and outlay in the event of an unexpected loss can be quite large.

It is important that you know that home insurance protects you against the expenses that may arise from an accident produced inside your home, so buying home insurance is highly recommended.

How do you know if the insurance you want to take out suits you? What to do to avoid overpaying for the policy? What elements to take into account to be well protected?

Subscribing coverage for your home is not easy. Therefore, pay attention to the following tips to save on your insurance.

Analyze your needs

The first thing you should do when looking for insurance for your home is to analyze your needs and determine what elements you need to be insured.

In this sense, the options may be the following:

Continent

The continent is everything related to the structure of your home (walls, floors, roofs, windows, electrical installations, plumbing, etc.).

It is important that you assign a correct value to the continent since many people give the policy the real value of the room at the time of purchase, which dramatically increases the price of insurance.

Content

The content is related to everything that is inside your house (furniture, appliances, decoration, etc.).

It is important that you know that jewelry, money, and works of art are not usually covered by traditional insurance.

Civil liability

In the event that a third party suffers any damage due to an accident that occurred in your home, the insurer will cover the expenses derived from it.

First Risk

If your home is already insured by the coverage of the neighborhood community, it can be very useful to have First Risk Insurance. which, in addition to being cheaper, allows you to obtain the corresponding compensation without the company taking into account the value of the insured property.

Take an inventory of your assets

If you have already decided that you want to insure the contents of your home, you need to make an inventory of the assets you want to include in the policy.

Write down all the objects you want to insure, their characteristics, their years of use, and the price you paid for them.

Do not forget that in the event of a claim, the insurer will not pay you the real value of the object, but will make an estimate according to how old they are.

Compare the different insurance offered by the market

If you find yourself burdened by a large number of types of home insurance currently offered by the market, I advise you to turn to a policy comparer.

These tools will allow you to filter your search quite precisely, giving you a list with the most appropriate insurance for your own situation.

Decrease the value of the premium by reducing the risk factors of your home

One of the important factors when economizing on home insurance is minimizing the risk factors for your home so that the company offers you a cheaper premium.

It is important that you know that the premium you pay for your home is directly related to the risk factor that your home presents.

When requesting a quote for Multi-Risk Insurance, the insurer will take into account several factors before giving a final premium value. Therefore, the safer your home is, the less you will have to pay for your policy.

Things you can do to reduce the risk factor for your home include:

  • Place smoke detectors
  • Install burglar alarms
  • Secure doors and windows
  • Keep your electrical, water, and gas installations up to date

Look at the promotions, exclusions, and special coverage

Although most insurers offer the same coverage when purchasing home insurance, there are small details that can make a difference.

Some of the points that you should keep in mind are:

  • Online contracting: some insurers offer you quite striking reductions if you purchase insurance online.
  • Welcome promotions: find out about the promotions offered by different insurers, many of them offer discounts of up to 50% on the premium during the first year of purchasing.
  • Additional coverage: find out very well if the policy you are interested in includes any type of additional coverage.
  • Exclusions: do not forget to ask about the risks that are not covered by the policy and for the objects that will not be reimbursed in the event of a claim.

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