Use these tips to help to find cheap homeowners insurance that will still give you the coverage you need.
When it comes to homeowners insurance, you may be well aware of how important it is, but it doesn’t make it any easier to fork over the money for the premiums every month.
There are some things that you can do to help to ease the monthly suffering and decrease the cost of your coverage by 20 percent or even more, without sacrificing the amount of coverage that you need for what is likely your most expensive investment.
According to the Insurance Information Institute, the average annual premium paid in 2009 (the last year that this data was calculated) was $880. That said, many areas saw premiums that were a great deal higher, depending on their exposure to various risks. Still, with the right techniques, you can obtain the same coverage but at a lower price. Make sure to make these efforts as they can make an important difference to your total at the end of the year.
Homeowners insurance doesn’t need to break the bank.
Use these tips to help you keep your premiums down:
• Raise the deductible, then put that amount of money into a savings account and leave it there. The higher your deductible, the less you’ll pay every month. As long as you’re sure that you can cover that amount – which you can when you’ve stored it in savings – the less you’ll have to pay in premiums.
• Make changes to your property to keep it safe. You’ll not only lower your risk of having to make a claim, but you’ll also find that many insurance companies offer discounts for making certain improvements that lower the risk of damage, such as a better roof, storm shutters, and even smoke detectors and fire extinguishers.
• Increase your security. Many insurers will provide a discount if you add security elements to your home such as a burglar alarm. The more advanced the system, the greater the savings.
Beyond the changes that you can make, don’t forget to review your policy and comparison shop.
This last step will help you to make sure that you know what you have, you have what you need, and that you’re paying for the homeowners insurance policy that will cost the very least.