PROPERTY owners may not know they can save big on home insurance just by installing some cheap devices.
Amazon can send the gadgets right to your doorstep, or you can pick them up from Walmart for less than $20.
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Homeowners are rewarded with reduced insurance costs if they take excellent care of their properties.
Reducing risks by ramping up security or by adding extra protective measures is a great way to get massive savings.
This is especially important as, depending on where you live, home insurance can cost up to $4,000 a year, according to Policygenius.
Some easy savings are waiting on the shelves of a local Walmart.
To get at least 5% off rates, homeowners simply have to make sure that smoke alarms are installed on their ceilings, according to the Insurance Information Institute.
These devices are quite cheap, with the Kidde battery-operated smoke detector alarm being just $17.97 at the supermarket chain.
Getting three X-Sense smoke alarms with a 10-year guarantee will cost shoppers just around $39.99 when they shop with Walmart online.
But that isn’t the only affordable way to slash home insurance costs.
Another cheap item found at Walmart that can slash rates is a deadbolt lock.
The Prime-Line deadlock that’s designed to stop intruders in their tracks is for sale at Walmart for just $21.87.
Plus, the locks can be easily installed by the average shopper, as long as they have a pair of pliers.
These are simple ways to cut a chunk from monthly expenses, but homeowners can save even more in the long run if they shell out for expensive features.
Insurance companies offer great incentives for sophisticated fire and burglary systems.
If a property owner installs sprinklers that can put out fires or a security system that immediately alerts the cops of intruders, premiums could be reduced up to 20%.
There are also many other ways that companies will reward property owners for best practices, but it varies from person to person.
Top tips for buying a house from Brian McCauley
Get fully pre-approved before you go shopping for homes
Give yourself at least 90 days from start to finish so nothing is rushed
Take a homebuyer education course to help you learn about homeownership
Set personal financial goals, i.e. ideal monthly budget and an amount of cash you are comfortable parting ways with. Just because you can “ qualify” for that home, doesn’t mean you should.
Get a 2nd opinion on your home loan advice and terms to make sure you are getting the overall best option
Don’t:
Open any new credit lines
Change employers
Move money around or make random deposits into your bank accounts
It’s always recommended to connect with someone from your home insurance company and hear about their cost-cutting plans.
The insurance news comes as millions of Americans will soon see steep rate increases after a natural disaster.
Because of the unforeseen issue, State Farm was granted a $749 million emergency interim rate hike.
Meanwhile, a young homeowner has revealed how she was able to purchase her first property at 26 with a $45,000 salary.
She said that she didn’t have savings or help from her parents, but still managed to get financed.
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