Troy Michigan Real Estate – 4 Tips to Lower Homeowner’s Insurance

Posted in Troy Michigan Real Estate by Michigan Real Estate Expert on November 20th, 2008

With the prices for everything skyrocketing these days, every penny counts.  This includes your homeowner’s insurance costs.  If you’re thinking of buying Troy Michigan real estate and need homeowner’s insurance, here are a few tips on getting quality insurance for a fair price:

Tip #1: Shop Around
Ask family and friends about their homeowner’s insurance.  Check the Yellow Pages, the National Association of Insurance Commissioners (NAIC) and the state insurance department.  Other places to shop for insurance include consumer guides, insurance agents and online Michigan insurance quote services.  Don’t just look for lower prices, however.  You need a fair price for the services you need.

Tip #2: Raise Your Deductible
The deductible is how much you have to pay before the insurance company starts to pay a claim on your Troy Michigan home.  You’ll find the higher your deductible is, the lower your premiums.  Make sure, when reading the policy, you carefully go over damage-specific information.

Tip #3: Use the Same Insurer
Some companies will take five to fifteen percent off your premium if you buy more than one policy from them.  If the insurer offers homeowner’s, auto and liability coverage, you stand a chance of having a lower premium for a multi-discount.  The key is to make sure the combined price is lower than if you bought them separately.

Tip #4: Improve Home Security
By installing a sophisticated fire sprinkler system and a fire/burglar alarm that rings the monitoring stations, some companies will cut your premium as much as fifteen or twenty percent.   And you’ll have peace of mind in case of an emergency.  For a smoke detector, burglar alarm or deadbolt locks, you can usually get at least a five percent discount.  Check with your insurer to make sure that the system you’re installing will lower your premiums, though; the systems aren’t cheap and not all of them qualify for a discount.

Read everything carefully before you sign, to make sure the policy covers your insurance needs without adding on hidden fees.

Even a little money saved can go a long way toward making it easier to live within your budget. 

Are you ready to buy a Troy home in Southeast Michigan?  I can help you find and buy the right Troy Michigan real estate home or investment property that fits your needs at the best price and terms.  As a licensed real estate broker and lawyer I’ll keep you from making mistakes that could cost you thousands of dollars.  Call me now at 248-514-2640 or send me an email at

Lee Morof
RE/MAX Showcase Homes
Birmingham, Michigan
Call:  248-514-2640

1 Comment »

  1. Lee’s Blog » Blog Archive » Owners of Troy Michigan Real Estate - Dos and Don’ts of Homeowner’s Insurance said,

    December 24, 2008 @ 8:43 am

    […] choose your insurance company by price. You may save money on your premium, but ask yourself what you stand to lose if you ever have to file an insurance claim. Make sure […]

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