Alabama Homeowners Insurance Quotes
The entire state of Alabama is only eight feet above sea level and that makes it very susceptible to the tornados and hurricanes that form in the Gulf of Mexico. Therefore, it should not come as a surprise that the citizens need to pay $100 more that the average price of home insurance across the country. However, even though the need to secure your home looks like a big deal, the state law in Alabama does not deem insuring your home as mandatory. The only exceptions to this rule, is the banks that require you to provide a home insurance policy before they offer you a mortgage loan.
How much are you expected to pay for home insurance?
Since Alabama is among the states constantly exposed to hurricanes and, in the northern part, also to earthquakes, the insurance companies consider it as a high liability. This liability of a home increases exponentially as the location of the home is closer to the seashore. The average annual price you will need to pay for homeowner insurance, if you were to live in Alabama, is closely reaching $900. It is important to note however, that the rates may vary depending on the coverage you want to have for your home.
All in all, the insurance company that will provide you with the homeowners policy will decide the final price on your premium by taking into account aspects such as the type of construction, local fire protection, coverage you opted for, the age of the house and the deductible amount you are willing to pay.
It is important to note that if you live in an area with a high likelihood of natural disasters, then it is highly advisable that you get coverage for that. Keep in mind that houses located in the flood-prone areas will not have sufficient coverage for this natural disaster and hence, you will need to pay an annual average of around $500 more for this protection.
Reducing the costs of your home insurance policy
In order to offset the high costs for the homeowners policy in Alabama, the first thing you can do is to invest in protecting your home from flooding and hurricanes. For instance, installing some storm shutters and deadbolt locks, as well as making sure that the drainage system is working properly in your home, will surely get you better quotes for the home insurance policy. In addition, the key to getting the lowest possible homeowners insurance quotes is to do a bit of window-shopping.
However, only installing extra protection against floods and hurricanes is not going to be enough. Did you know that most home insurance claims are made due to a faulty appliance connection or a broken pipe? This is why it is critical to make sure that your bathroom and kitchen appliances, as well as your pipes, are working properly before you talk to any insurer. In addition, by installing a full time monitored home security system for your home will get you a 20% discount off the price of the premium. Lastly, in order to cut down on the price of the policy, another option would be to purchase a fire extinguisher and add smoke detectors to your home.
Determine the proper coverage for your needs
One of the basic things you should consider when shopping for home insurance is whether your policy can provide you with the funds you need to rebuild your home, in the event that it gets destroyed. This can be done by hiring a real estate agent or the local builders to estimate the value of your home correctly. It is important that you pay attention to the coverage stipulated in the contract. Whilst it is perfectly normal to make sure that the policy will cover the overall value of your home and the assets inside, there is no need to pay extra for insuring the land’s value. Since the land that your home is built on cannot be lost or even destroyed, then there is no need to pay for a coverage that you do not need.
Despite the house structure itself, you should also make sure that the assets inside it are covered in case something was to happen. This becomes especially important when you have expensive furniture, electronic appliances, clothing or tools stored inside the house. Moreover, depending on the risks your home presents for those who enter, you can consider bodily injury liability coverage too.