Homeowners’ insurance can get to be expensive if you don’t know how to lower your costs. There are many ways to cut your costs without having to worry about whether or not your home is sufficiently covered. By working with your insurance agent, you can find many different ways to cut your costs while still maintaining the level of coverage you feel most comfortable with.
The following are some of the ways in which you can cut the cost of your home insurance
Secure Your Home
Install a home security system and put up motion-activated lights around the outside of your home. This added security, especially when monitored by a third-party (monitoring company), is one of the best ways to protect your home. It also offers you a discount on your homeowners’ insurance.
Increase Your Deductible
Increasing the amount of your deductible is the best way to lower your monthly premiums without affecting your overall coverage. Doubling the amount of your deductible will save you a substantial amount of money over the course of a year.
Avoid Filing Small Claims
Avoid filing claims on small events or items. Before filing a claim on a small item, find out how much it will cost to replace it. Note that replacing it on your own will be more cost-effective in the long run.
Look for Other Discounts
Talk to your agent about other discounts. Paperless billing and auto-pay are two ways to save money. You can also save money if you pay bi-annually or annually. Coming up with a larger amount of money can be difficult, but it will pay off in the long run.
Report Home Improvements
Reporting home improvements like new, energy-efficient windows or appliances may also earn you a small discount. Making your home more energy-efficient can also reduce the risk of house fires and electrical malfunctions.
Bundle Your Policies
Bundling your home and auto insurance policies will also save you money. By bundling your policies, you lower the administrative costs, and your insurance provider will pass the savings on to you.
Improve Your Credit Score
Improving your credit score makes you more financially responsible. The better your credit score is, the more affordable your insurance policies will become. Your credit score is not just a number. It’s a report card of sorts for your finances.
Eliminate High-risk Items
Eliminate high-risk items like wood-burning stoves and space heaters. Removing the things that put you most at risk is the best way to save money on your homeowners’ insurance.
Shop around! Not every insurance agency will offer affordable rates. It is up to you to compare what is being offered and what is being charged. Ask about discounts and make sure you fully understand what coverage you will be getting for your money.
When you want to save money on your homeowners’ insurance, you need to talk to an agent you trust. Call us today! Our experts at Schwab Agency are always ready to help you get the most out of your money.