5 Smart Tips for Decreasing Your Home Insurance Rates
Anybody that’s ever owned a home will be the first to tell you that home insurance rates can get very pricey for no apparent reason at all. Disasters happen to homes all the time, and insurance companies have to draw the money from somewhere to be able to fulfill claims. Although it’s practically impossible to get out of paying for home insurance on your house, you can still use different methods to mitigate your home insurance premium.
Do Some Comparison Shopping
There’s nothing better than shopping around for the best price when trying to save some money on your home insurance rates. Grab at least three different quotes from insurance companies, and also watch for ratings on their customer service as well as their dependability with actually filling claims.
Install a Home Security System
Next, installing a home security system can moderately change what you pay for your home insurance. By finding a reliable home security company to secure your home, you are looking at a discount of at least 5% off of your premium. Additionally, don’t forget to also install smoke detectors and dead-bolt locks to strengthen your discount even more.
Modify Your Deductible
For instant savings, contact your home insurance agent and talk to them about raising your deductible. The deductible on your home insurance is essentially a representation of the amount you’ll need to pay on a claim before the insurance company will cover any damages or problems with your home. If you don’t mind paying a little more if a claim needs to be made, this should definitely be one of your top priorities.
Group Your Policies
Some insurance companies will provide generous discounts for having more than one policy under them. For example, if you already have auto insurance under a particular company, consider buying home insurance from this same company to reap this particular discount. Sometimes the discount can even increase for each extra policy you have under the insurance company.
Don’t Change Insurers
Lastly, if you can manage to same with the same insurer for more than a couple of years, do so. In some cases, insurance companies will offer discounts to long term customers that have been with the company for more than five years. However, if the premium hasn’t lowered after several years, it’s more than likely time to say adios to your current provider and move on to a new one.