Insurance Tips for Las Vegas Home Owners

Posted by nevadaautoins on March 24th, 2015

Home insurance in Las Vegas is a necessityan expensive necessity if you don’t know how to shop for a good-value policy. Luckily, there are certain things you can do to minimize the cost. These might seem like small steps, but they can have a major impact.

1.Install and Maintain security system: Did you know that installing a security alarm that’s tied to the local police station or is monitored by a security agency can help lower your annual premiums by 5% or even more? To obtain this discount, you may be asked to provide a proof that you have central monitoring installed in your Las Vegas home, typically your contract or bill.

Even if you don’t have money to invest in a high-tech security system, you can still get a discount by installing and properly maintaining your smoke alarms (especially if your house is old and did not come with a standard alarm). You can get as much as a 10% discount in your annual homeowner’s annual premiums.

2. Raise your deductible: Home insurance in Las Vegas works the same way as health or car insurancethe higher yourdeductible, the lower your premiums.

3. Take advantage of multiple-policy discounts:Some insurance companies in Las Vegas give 10% discounts to customers who maintain other insurance policies (such as auto or health insurance) with them.

4. Plan way ahead for any construction project: Are you looking to build a new structure or addition? Use materials that can help lower your insurance premiums. As a general rule, wood-framed structures cost a lot more to insure because of their highly flammable nature. Steel or cement-framed structures tend to cost less to insure because they are more resilient to fire as well as adverse weather conditions.

Are you looking to build a swimming pool? Think long and hard if you need it. Pools are considered to be “potentially injurious devices” and may drive your annual homeowners' insurance in Las Vegas up by over 10%.

5) Pay off your mortgage:If you have extra money at the end of each month, consider putting it towards your mortgage to see your premiums drop. Insurance companies give discounts to homeowners who own their properties outright. Why, you may ask? They figure that since you own your home, you are more likely to care for it better. Being mortgage-free can also give you psychological rewards, as you feel more in control of your life and less dependent on a lender to put a roof over your head.

About the Author

Chester Corpuz is the Owner of Las Vegas Auto Insurance.  He has been in the insurance and finance industry for over 10 years.  Chester has a Degree in Finance from the University of Nevada Las Vegas.  His ambition is to teach people how to save money by helping people understand issues in finance and insurance.

DISCLAIMER:  Nothing contained in this article is intended as insurance advice nor does one relying upon that which is contained herein create a client relationship with the author or his affiliates.  Please contact a licensed insurance agent before taking any action on this advice.

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