High Risk Home Owners Insurance – Avoid Being Labeled As High Risk

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Home owners insurance is one of several types of insurance that isn’t legally required unless you’ve borrowed money from a lender in order to pay for your home. Yet, having a home owner’s insurance policy is one of the most important steps any home owner can take.

If adding another monthly bill to your list doesn’t sound very appealing, rest assured there are ways to save money on a home owner’s insurance policy. The best way to save money on a home owner’s insurance policy is to avoid being labeled as “high risk.” From car insurance to health insurance, if the policyholder is labeled as high risk, the insurance policy is going to cost more.

The first step any home owner can take to avoid being labeled as high risk is to make sure his or her home is a safe as it can possibly be.

Make repairs. Making repairs to a home includes fixing anything that’s not in 100% working order. Examples of making repairs includes replacing weak steps, tightening hand rails, making sure all carpeting is properly stapled down, replacing loose roof shingles, etc.

Update electrical wiring and plumbing systems. Fire and water damage is very common among homes, and many cases of fire and water damage are results of faulty electrical wiring and leaking plumbing systems. Depending on the age of the home, the home owner may want to completely replace all electrical wiring and plumbing systems.

Clear the yard. A home’s yard can have a variety of things that don’t belong there. Gardening tools and power tools belong in the garage, a shed, or in the home. Car tools and parts should be stored, as well. All debris belongs in the garbage.

Install safety devices. Safety devices go beyond alarm systems, though installing an alarm system is a good start. Home owners should check the sturdiness of their doors, locks, and windows, and replace weak links.

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