Homebuying never comes easy. If you plan to buy a house in Singapore, you are inviting several expenses. These expenses include property tax, downpayment, and insurance expenses. Most people worry about managing insurance costs for their homes.
Home Insurance is solely dependent on various factors including locality, and age of the house. So, while choosing your new or first home, you should check these factors. And instead of worrying about home insurance, get an insight on the tips to reduce your home insurance costs.
Lock-up with Deadbolts
Installing deadbolts on your home’s point of access is a great step to slow down even the most expert would-be crooks. Therefore, many home insurers offer allowances to homeowners who install deadbolts. “However, the type of deadbolt you want matters.” When deciding a deadbolt, eye for choices labeled Grade 1 or Grade 2. Avoid Grade 3 locks, as they are the weakest.
Here are some of the best ways to lower your cost expenses
- Make your home more earthquake resistant
- Buy your home and auto policies from the same insurer
- Don’t mix up the value you paid for your home with the cost of rebuilding it.
- Look for other bargains.
- Maintain a positive credit history.
The cost of homeowners insurance is one of those unavoidable expenses that come along with owning a house.
- Increase your deductible
- Eliminate unnecessary coverages
- Don’t over-insure your belongings
- Consider potential future premium increases when making a claim
- Increase Your Credit Score
- Compare Rates and Get Quotes