The U.S. Department of Veterans Affairs offers multiple financing options for veterans who want to buy a home. However, the VA does not offer homeowners insurance. During your home buying process, you'll also need to get homeowners insurance to protect your property. Here are some ways veterans can save on homeowners insurance:
Shop around
There are countless insurance providers for a good homeowners policy. It might seem overwhelming to choose, but the more research you do, the more you'll save. Make a list of your top choices and compare their rates and reviews. It's also worth asking other veterans, such as loved one or those you've served with, for recommendations of providers they're happy with.
Bundle policies
It's common for insurance providers to offer discounts for buying more than one policy. For example, if you already have car insurance, the same company might be able to offer you a homeowners policy at a discounted premium. Some providers may even discount both policies when you combine them. Investigate what providers offer for multiple policies before you buy.
Improve security
There are simple safety and security upgrades you can make to your home to potentially lower your homeowners insurance premium. Some examples of upgrades include adding dead bolt locks, security cameras, floodlights and carbon monoxide detectors. Providers may also offer discounts for homes with smart security systems to keep you and your property safe.
Opt for a higher deductible
If you don't mind a higher deductible on your policy, you may be able to get lower monthly rates on homeowners insurance. Most homeowners insurance policies have a deductible amount of $200 to $300. However, raising the deductible to anywhere between $500 and $1,000 can potentially save 20% or more. Each provider has different options for deductibles--some policies with no deductible at all--but it's worth investigating the benefits of choosing a higher deductible amount when shopping for a policy.
About the Author
David Hayes
Welcome to my website, your number one source for Winchester, Arlington, Cambridge, Belmont, Reading, Medford, Melrose, Stoneham, Somerville, Burlington, Boston, Brookline and surrounding towns.
Purchasing real estate should be an exciting yet seamless experience. Helping Buyers and Sellers with their real estate needs is what I love to do. My skills, experience and knowledge help me to make the real estate process as successful as possible for my clients. I am a full time, full service Realtor, as well as an experienced investment property owner, who enjoys working with both seasoned and first time Buyers and Sellers. My business is state-of-the-art and I continue to invest and use the best technological tools available. I consider Real Estate a collaborative profession. We will partner together to find the home of your dreams.
