Home insurance is a fact of life if you own real estate.
Covering fire and theft losses, you pay a specific monthly premium based on several factors, from the neighborhood’s crime rate to the home’s square footage. Saving on your insurance premiums requires some legwork to receive the discounts you rightly deserve.
Bundle Your Services
If you have multiple items you insure, including cars, motorcycles and boats, it saves you money to use one insurer for all of your assets. Talk to an insurance professional about bundling all of your coverage into one policy. Deep discounts are often given to keep you as a loyal customer.
Look For Other Discounts
Each insurance company uses a different set of parameters to attract customers. Unusual discounts are the result of industry competition. If you are a teacher or a firefighter, for example, there could be a discount for you. Extensive improvement to your home, including new roofs, can grant you a discount, along with being a long-term customer. Look over the company’s available discounts to see where you can save.
Being a smoker drives your premiums up. There is a higher chance of fire damage with one or more smokers in the house. If you recently gave up the habit, notify your home insurance provider immediately. They can often alter a policy and reduce the rest of your payments for the policy year.
Consider Home Security
Believe it or nor, having a home security system can help to lower the cost of your home insurance. According to Vivint, a home security company, having a security system protects you and your property from damages. In addition to saving you money on your home insurance, many home security systems also provide you with a home automation system, a system where you can have timers on your lights and heating and air systems, helping you to save on other home expenses.
Raise The Deductible
Your deductible is the amount you must pay toward a loss before your insurance begins their payment process. A low deductible causes your premiums to be high. Change your deductible to a larger amount, but within your budget if you need to pay it. Your premiums drop considerably when you alter this key variable. Don’t wait until your next policy is up for renewal. Changing the deductible is possible during the policy year.
Your home insurance premiums do not need to bury you in bills. With some careful research and honest conversations with your insurance provider, you can find ways to lower your monthly payments.