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
Kevin Kelleher
The thing that sets me aside from other agents is my experience, I started out a young man in construction learning everything from anyone that could teach me so before long I had my own company as a remodeling contractor then specialized in historical renovations by the end I had the pleasure of working on great jobs with great clients for 30 years. For the past 12 years, I have been enjoying the process of assisting my faithful clients with real estate transactions my knowledge of houses has given my clients a huge advantage when viewing properties and what is needed when selling. I have always enjoyed working with people and helping them in probably the largest investment they will make. I hope you will give me the chance to show you that honesty and hard work does pay off in the end whether you're buying or selling.
