Buying Your First Home? Do These Things To Keep Insurance Claims And Premiums Down

Buying your first home, such as through Realty in Alabama, can be a whirlwind of an experience. In the midst of going through all the paperwork, qualification, and closing processes, you'll want to save money on your homeowner's insurance. The best way to do that is to take a common sense approach to keeping the costs down in the future. Insurance claims can raise your premiums. This guide demonstrates how you can keep down your premiums down and prevent claims on your insurance policy.

Make Needed Repairs to Stairs and Handrails

Check any of the stairs inside and outside your home for damage. If there are loose boards or railings, call someone in to fix them right away. Doing so will prevent a claim on your insurance policy if a visitor or a salesperson should happen to fall because your stairs were in ill repair.

Know Where the Main Water Valve Is

As soon as you move in, check to see where the main water valve is for your home. Once you have located it, learn how to turn it on and off. In the event of a leak, you'll be able to mitigate any damage by shutting of the water supply, preventing a flood inside your home.

Teach Children About Combustible Items and Electric or Gas Appliances

Give your children a tour of your home, concentrating on electric and/or gas appliances. Instruct them to keep toys, jackets, shoes, and other items away from these appliances.

Just as you are instructing your children to keep certain items away from the water heater, HVAC system, and other appliances, make sure you do the same. Find another home for storage containers, boxes, and especially gas cans.

Conduct Yearly Checks

Owning your own home means that from time to time, there will be some needed repairs. Check these things out, at least once a year, and call in the appropriate professionals to make any needed repairs:

• Roof: Look for missing or loose shingles.
• Siding: Look for broken or missing pieces.
• Foundation: Look for cracks in the concrete at the bottom of your home.

Call in the professionals to fix these problems right away to prevent an insurance claim on your home in the event of a large storm or a failing foundation. Most insurance companies raise rates when claims are made, specifically if you don't take the necessary precautions to prevent a catastrophe.

Enjoy being a new homeowner and take the time to do what you can to keep the costs of being a homeowner down. Consult with your realtor to find other ways that you can keep your insurance premiums low and prevent claims. Share this with others who are new to homeownership, so they too can save money and keep their home in great shape.