10 Things You Can Do to Reduce Your Home Insurance Costs


Getting Quality Protection and Saving Money

No one likes the idea of paying too much for their home insurance, but it’s essential to have a high quality policy in place. It protects your home, belongings, and those who come onto the property. The amount that you pay can vary greatly based on a number of things. Let’s look at ten of the things that you can do to reduce the cost of your home insurance.

#1: Raise the Deductible

The deductible is the amount of money that you will pay toward the loss before the insurance kicks in and starts paying. When you increase your deductible, it means that you will have a greater out of pocket cost. However, your premium will be lower in this case. This can save you a substantial amount over several years in your home.

#2: Use the Same Insurer

Many times, you will be able to bundle your policy with your auto insurance. When you do this, it can help you get cheaper overall rates. Depending on the company, you may be able to save between 5% and 15% when you bundle like this.

#3: Shop Around

There is no reason that you can’t start looking at other insurance companies, even if you’ve been loyal to one for years. Look at the rates and the deals that other companies are offering. Find a policy that is as good as or better than the one you have right now, and see if you can find a better deal.

#4: Improve the Home Against Disasters

You can make your home more resistant to disasters by adding things such as storm shutters. You can also reinforce your roof. Adding modern and better quality elements to the home can also result in lower insurance in some cases.

#5: Improve Security

When you have increased security, such as alarms, you will often see a discount of around 5%. When you have a higher quality system in place, some insurance companies will reduce the cost of your insurance even further.

#6: Have Good Credit

Having good credit can actually help you reduce your insurance costs as well. Many companies today are using credit ratings when they are calculating the final cost of insurance. Better credit tends to equal better rates.

#7: Ask for a Loyalty Discount

If you have been with the same company for a number of years, then you might want to ask about a loyalty discount. This discount may vary, but those who have been with the same company for a number of years may qualify for discounts of around 5% to 10%.

#8: Make Sure You Aren’t Over-insured

While being underinsured is certainly a problem, you will find that being over-insured means you could be spending far more than you should. You need to have the right amount of coverage for your needs. If you’ve sold some of your belongings, for example, then you might not need to have the same high coverage that you had the previous year.

#9: Ask About Other Discounts

Every six months of so, consider asking about any other discounts that might apply to your home insurance policy. For example, some companies have discounts for seniors, while others may even have discounts for having a degree.

10: Pay the Entire Premium at Once

If you are looking for quality insurance options and want to know more about getting the right coverage, make sure you get in touch with us today.