Buying a home in Fishers, IN requires having good credit, for more than one reason. Not only is good credit necessary for obtaining a mortgage, you can also save money on your homeowner’s insurance. Insurance companies routinely check your credit score as a way to measure risk. Studies show that even if you have a credit score that’s considered fair, and not necessarily “bad”, you could pay 32% more for homeowner’s coverage, compared to those with excellent credit.
The discounts don’t stop there though, here are other ways to control and reduce your homeowner’s insurance costs:
Shop around. The biggest company names are not necessarily the best. A regional company that focuses on risks and claims inherent to Indiana and the Midwest may have better pricing.
Combine coverage. When possible, carry home and auto insurance policies with the same company. Most companies provide discounts for adding a home policy onto your car policy.
Choose a higher deductible, within your means. You might be surprised at the difference in premiums between a $500 deductible and a $1,500 deductible. But use caution: a deductible is the amount you’ll pay out-of-pocket if you file a claim. Don’t make it higher than what you can afford.
Install home safety and security features. Having smoke alarms, fire extinguishers, and deadbolt locks are good ideas in any event, and you may catch some breaks for every safety and security feature you have. Things like electronic security and alarm systems, and interior sprinklers, can grant more discounts on your Fishers, IN home.
Keep your home in good condition. Keep your walkway, driveway, steps, and entrances clear of debris all year around; trip-and-fall and slip-and-fall claims are preventable. Keep gutters clear, and pay attention to the condition of your windows, doors and home exterior.
Rodney & Amanda Heard
Heard Real Estate Team