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Today insurance is an essential and ubiquitous element of everyday life, but insurance did not always exist. The first insurance policies were designed to facilitate traders and businesses. As long ago as 1750 BC, Babylonian traders who used a loan to finance their expeditions could pay an additional fee to the lender so that if their wares were lost at sea the loan would be cancelled. The first recorded ‘insurance contract’ that we would recognise today was drawn up in Genoa in the 14th century. By 1680, fire insurance for homes was provided by a London insurance company, tackling the demand for such a service after the Great Fire of London in 1666.
In modern times many of us have insurance policies for our homes, cars and possessions, but high premiums can lead to people wanting to cut back on the cost of their insurance. In today’s tough economic climate, more and more over-50s are lending a helping hand to their grown children. Add this to the fact that many over-50s are on a limited income and are seeing their retirement funds badly effected by the market and it becomes clear why they are seeking out low home insurance quotes to help ease the strain on their budgets. Others may simply wish to avoid paying more than they have to so that they can focus their funds on enjoying their retirement. In either case, low home insurance quotes from Castle Cover
an over-50’s insurance specialist is highly beneficial.
So how can you increase the odds that you will be able to find low home insurance quotes?
Consider increasing your deductibles
In general, the less that you need to pay out-of-pocket when your home needs repair, the higher your premium will be. You can reduce your premium by accepting a higher deductible, but make sure you calculate whether you feel the reward is worth the risk.
Invest in your home
If your home is less likely to be damaged then you can be eligible for lower home insurance quotes, as there is less risk to insurance providers. Something as simple as strengthening your roof so that it is more wind resistant can net you a lower premium. An insurance agent should be able to talk you through the investments you can make.
Keep an eye on your landscaping
A poorly landscaped garden can open you and your insurer up to the risk that someone will injure themselves on your property. By maintaining your garden you not only gain a more pleasing space for recreation, you can find that you will have the opportunity to take advantage of cheaper home insurance quotes.
Consider exclusions
All home insurance policies will have some level of exclusions – that is damage or elements of your home which are not covered by your home insurance policy. If you have certain things that you do not feel are important, leaving these without cover if they are damaged means that you can take advantage of cheaper home insurance quotes.
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These are some great tips! Keep up the great work. And have a great Thanksgiving! Stay safe.
Thanks Jon. I hope your Thanksgiving was a memorable one. We had a great time, but the drive of 14 hours each way is just too much. Going to fly next time, even if it costs a little extra.
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We used a broker for finding our house insurance plan and it worked great. I loved how we were able to see all of the deals and agreements available. Plus by having the broker gather it for us we saved a lot of time. I would definitely recommend this route.
Your tips are great too. All of them would make a difference to where I live and what kind of insurance is available to me.
Thanks Miss T. As a former mortgage broker I can attest to the benefits of allowing a professional to help with a complex search for this type of financial product.
Last year, I spent a lot of time finding a new homeowners insurance because my rates went up. In California, I have the additional dimension of earthquakes. I looked for a company that covered earthquakes because I did like the state plan. I found one of the biggest agencies in Los Angeles to provide the quote. It saved me some money and found better coverage.
It’s satisfying when you decide to make a big switch on a major financial product, like insurance. It’s not something you do every year and insurers can take advantage of this by increasing rates, knowing that many will just stay and pay the extra rather than be bothered with the inconvenience of shopping and changing.
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