In recent years the number of natural catastrophes that have occurred world wide has increased. Some scientists suggest that this is due to increasing global temperatures and related climate change. Whatever the cause, it has had a dramatic effect on the cost of insurance premiums as more natural disasters occur.
Everyone wants to make sure that their home is covered by insurance that handles natural disaster incidents but it is increasingly difficult to do so with high premiums. Fortunately there are a number of ways to obtain insurance for natural disasters and lower the cost of premiums.
A lot of people simply choose an insurance policy from the Internet and hope that it covers all of the natural disasters appropriately. Others just walk into an insurance agency and hope that the insurance agent gives them the right insurance at a good price. Unfortunately you may not get the best deal and may not have the most comprehensive cover against natural disasters. You need to scrutinize the policy in it’s entirety and look at ways you can lower the premium.
One way to save on premiums is prepare your home for natural disasters. If your local area experiences a lot of storms, you could install measures which prevent damage, like storm shutters. Then you could find an insurer that gives you a discount on your premium for having those shutters installed. In the long run the money saved is substantial. You can also install security devices or get a dog to save money on your home insurance as it reduces the chances that your home will be burgled.
You can also combine, or consolidate your insurance policies. You can obtain a discount on your insurance costs if you combine policies, so get you car insurance, home insurance and life insurance through the same company. Discuss a discount with the insurance company directly or ask your insurance agent to negotiate on your behalf.
It’s also a great idea to exclude the value of your land from any insurance policies. Natural disasters won’t affect the land (unless you have a property built very close to the coastline). So if the insurance company asks you for the value of your property, just include the price of rebuilding the home and the value of the contents of the home.
By using these three simple tips, you can save a great deal of money on the cost of insurance in the long term. With the increase in natural disasters it’s more important than ever to have sufficient insurance.