Home insurance is one of the largest annual payments that go through the current account. However, who said that paying more is synonymous with being more covered? The truth is that this is not always the case. If you want to make sure you pay a fair price, below we give you 8 tips that will help you save on home insurance.
Saving on home insurance is possible, here are 8 tips
home insurance is not mandatory (although the bank requires it to grant you the mortgage). However, it is advisable, since this is where we live and we must protect ourselves against any problems that may arise, to ensure that everything is covered and there are no setbacks.
While it is true that during the first years of the mortgage, the bank may require that you take out certain insurance with them. Of course, then you have complete freedom to change. But is this insurance worth paying for?
Imagine that for a moment your washing machine breaks, it leaks, and you damage the downstairs neighbor’s roof. Have you ever stopped to think how much such an arrangement could cost? The same goes for rental apartments since it is important to cover your back for what may happen, even with more basic insurance!
Reasons to take out home insurance
But… have you ever stopped to think if you are paying a fair price? You may be overpaying! Check out these tips to find out:
1- For rentals, only the continent
If you own a rental apartment and it does not have furniture, what you can do is take out home insurance but ensure only the continent. It will be much cheaper and you will have your back covered since it covers what interests you most.
2- Adjust the value of the continent to the real value of the construction
A common mistake in home insurance that can make you pay more is insuring the current market value of the home, instead of the real value of the construction.
This is important information because if there is an accident, the insurance company will pay you the reconstruction cost, not the purchase value. So, it is not advisable to pay more when you are going to receive less than you think.
3- Check what community insurance covers
You pay for the homeowners’ association insurance with your monthly community fees, so you can access it if necessary. Let’s say, for example, that you are interested in insuring the contents of your home at first risk. If so, your insurance company will pay the insured company that appears on the policy, but the rest could be borne by the community.
4- Some renovations can make you pay less
If the time has come to renovate your home, take advantage! The same occurs with the works carried out in the building to improve water conduction or electrical systems. They can make you pay less on your insurance by incorporating newer, more efficient systems.
5- Be careful with securing the ground
The fact that including the land greatly increases the policy. If you remove it, you will get a cheaper price. But is it worth removing it? The truth is that if a fire breaks out everything will burn, but the land will not disappear but will continue to be there.
6-Watch the limits and maximums
When looking for ways to save on home insurance, consider the limits, maximums, minimums, and deductibles. The fact of covering more or less amount may cause the total amount to be paid to vary. If you want to pay the minimum, reduce these values as much as you can.
7- Be careful with the small details
There are details that can make you pay more for insurance. To do this, try to be precise with the data you provide. For example, in reference to whether the home is disabled at any time of the year, if it is in a depopulated area, the km distance from the service area, etc.
8- Request several quotes
If you really want to save on home insurance, apart from taking into account all the tips we give you in the article, the definitive trick is to request several quotes and compare, them to see who offers you the same thing but for less money.
Now you have no excuse to save on your home insurance
Remember that at Fintonic we can give you a hand so that you can save on home insurance online home insurance simulator. What if we see it? Download our app and test what you would pay or directly use our