Owning a home has long been a cornerstone of many. But buying a home, whether it’s your first or not also means you’ll need to purchase home insurance, so it’s wise to consider your insurance options as you search for the perfect place to call your own.
Homeowners insurance policies are determined by a number of factors. Making a few smart decisions will give you the coverage you need and could save you hundreds of euros each year. Consider the following tips, which can go a long way toward protecting your home and your peace of mind.
Get the Facts
When you find a house, gather as much information as you can to determine its potential insurance costs. The age of electrical, plumbing and other systems within the home, as well as construction materials used to build the house, can affect your premiums.
Be Aware of Geography
Regardless of the homebuilding materials used, where you live can have a significant effect on your insurance policy and coverage availability. Homeowners are likely to pay more for insurance in areas prone to severe weather and natural disasters, such as tornadoes, hurricanes, earthquakes or wildfires.
Consider Your Comfort Level
As you establish your home insurance coverage, you’re able to choose your deductible level, which is the amount you will pay out of your pocket when you have a claim. Opting for a higher deductible, such as €1,000 instead of €500, can lower your monthly premiums significantly. Therefore, you may be more comfortable paying a higher premium each month for greater peace of mind should disaster strike. The choice is yours to make of course without any pressure.
Save Money Through Safety Measures
You may be able to save on insurance premiums by looking into safety and prevention features that often enable an additional discount. Consider purchasing monitored security alarms for example. Easily accessible fire extinguishers are another good addition to the home, reducing the risk of severe flame and smoke damage.
Pick a Good Partner
Doing business with an insurance company you trust is important. Before purchasing insurance, review the company’s complaints record and rankings on customer satisfaction and financial security. Their website of your potential insurance partner will give you enough information, however never hesitate to give them a call.
The GAP Vassilopoulos Group acts as Coverholders on behalf of Lloyds Insurance company S.A. has been offering ‘A’ Rated comprehensive home insurance products to the Cyprus Market for the past 40 years.
Ready to request a home insurance quote? Drop us an email through our website or feel free to contact us at 77 77 77 75 to compare and select the most appropriate home insurance policy. The GAP Insurance Agency team will respond promptly to your needs.