Almost every single mortgage company out there will refuse to finance the purchase of a residential property without the homeowners carrying California homeowners insurance.
It just isn’t going to happen.
Worse than that though, is the fact that California homeowners insurance can be so almost prohibitively expensive. It isn’t at all uncommon for individuals to pay excessive premiums each and every year in excess of $1000 on even the most basic of policies, adding a significant amount of financial stress to an already often times stressful situation.
Thankfully, https://california-insurance.net/california-homeowners-insurance/ provides us a couple of different ways that we will be able to do to cut down on our California homeowners insurance cost – sometimes dramatically.
Improve security and smoke alarm systems
If you want to immediately reduce the amount of money that you are spending on California homeowners insurance, simply upgrade your security and smoke alarm systems.
Often times this decision is only going to cost you a few hundred dollars, but it is going to pay off significantly when you report the upgrades to your homeowners insurance company. They’ll appreciate your foresight and your seriousness about protecting your property (and both of your investment), and will usually reward you with significantly reduced California homeowners insurance premiums.
Another way that you’ll be able to reduce the amount of money that you spend on California homeowners insurance is the same thing that you’ll do to produce your insurance payments of any other type – increase your deductible to save money on your “out-of-pocket” costs as far as premiums are concerned.
Obviously, you’ll need to make sure that you are only increasing your deductible to a figure that you would actually be comfortable pay out-of-pocket if absolutely necessary, but you are definitely going to be surprised to learn just how much money you’re able to save each and every month when you make this decision.
Now, it’s critical that you make sure you do not increase your deductible too significantly, especially not to the point where you wouldn’t be able to cover the deductible to take advantage of the insurance services that you’re paying for in the first place.
It is a bit of a delicate balancing act, but it’s one of the best ways to save money on California homeowners insurance right out of the box.