Many investors choose to purchase property locally after successfully immigrating to the United States. In recent years, the cost of homeowners insurance in the U.S. has risen sharply. How can you save more on homeowners insurance when buying property in the U.S.? Our editors have compiled some tips specifically for our U.S. immigrant friends.
First: Shop around to get the best deal
As the saying goes, it pays to shop around, and this is equally true for U.S. immigrants purchasing property insurance in the United States. Before your current policy expires, consult with several insurance companies, request quotes, compare policy terms, and choose the one that offers the best value for money.
Second: Choose the type that suits you
Unlike in China, homeowners insurance in the U.S. is categorized based on insurance theory, and it varies from state to state, covering all essential items. However, before purchasing insurance, be sure to select the type that is appropriate for your needs to avoid wasting money on unsuitable coverage.
Third: Increase your deductible
The deductible is the portion of a loss that the policyholder pays out-of-pocket; the insurance company only covers costs exceeding this amount. The higher the deductible, the lower the premium.
Fourth: Take advantage of discounts
Alarm systems, smoke detectors, and deadbolt locks can usually each provide a 5% discount on premiums. If you insure both your home and car with the same company, you can typically receive a 5% discount. Homeowners aged 55 or older who are retired may be eligible for a 10% discount.
Fifth: Maintain a good credit record
According to research and observations in the insurance industry, individuals with good credit records are generally more diligent in maintaining their homes. Therefore, 82% of homeowners insurance premiums are calculated based on the policyholder's credit.
The U.S. Key Account Service Center provides you with high-quality service
As a professional institution for U.S. investment immigration, Worldway will provide high-quality, attentive service that permeates every small detail of the investor's U.S. immigration process. At the same time, Worldway has established a U.S. Key Account Service Center in Southern California, primarily to provide landing, settlement, and investment services for Chinese investors who are investing and immigrating to the U.S., assisting you in better investing and living in the United States. For more services, please contact the Worldway U.S. Key Account Service Center hotline at 626-522-6522(USA) or the consultation hotline at 400-0909—899(China)
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