Buying a new home can be a stressful and busy process.  With so many things to do, and papers to sign before acquiring your new home, many people often forget that homeowners insurance in Traverse City, MI is one of the requirements needed in order to finance your home.  Here are some ways in which you can save money on your annual homeowner’s insurance rates.

Before the insurance company determines which rate to apply to your insurance policy, they will need to ask you questions about your home.  Often times, a home evaluator that works for the insurance company will come out to survey the new home, and check for existing safety features, landscaping, overall appearance, and worth of the home.  They will determine when the house was built, and how old the electrical and plumbing structures are in the home.  The evaluator will also look at the condition of the roof, the square footage of the home, and if there have been any insurance claims filed on the home over the previous five years.  Also, the location of the home is considered, as it may be in a high-risk area.

By increasing the amount of your deductible on your homeowners insurance in Traverse City, MI, you can lower your insurance rates.  The higher the deductible, the more affordable your annual rates are.  Keep in mind that that by choosing a higher deductible, your minor homeowner’s claims, such as a leaky pipe, will be mainly your responsibility.

You also need to calculate exactly how much insurance you need to provide adequate coverage for your entire house, and its belongings.  Otherwise known as the replacement cost, this insurance policy will protect you from the loss or damage to your home.  By finding out the exact amount of insurance you need, you won’t be paying for additional insurance coverage that is not needed.

Make sure that you take into careful consideration all of the discounts that are available to you.  There are safety features discounts, mature policyholders discounts, senior discounts, and multi-policy discount that will help to reduce your annual homeowners insurance rates.  If you use the same insurance policy for your automobile and home, there are often considerable insurance discounts available.

By following a few simple tips when looking for homeowners insurance in Traverse City, MI, you may be able to find a more affordable plan for your family.