Ten Ways to Save Money on Home Insurance
Chances are that it feels like your homeowners insurance is eating away at your wallet. After hours of research, we narrowed it down to the top ten ways that you may be able to save more money on your home insurance premium.
1. Get a quote from as many companies as possible. This is probably the simplest way to save your money and many people often ignore. There is a reasonable chance that there are insurance providers that will offer lower rates.
2. Bundle you insurance policies. If you insure your home with the same company as you have other types of insurance such as your car insurance you could receive a substantial discount.
3. Install or upgrade a new security system. Some companies will offer discounts for having a security system that may reduce the probability of home invasion or robbery.
4. Get quotes online and over the phone. First off, quotes can vary widely depending on whether you get them directly from an insurance agent or on the internet. Online quotes may be more accurate because the information provided to generate an estimate is more consistent.
5. Ensure your home is safe. Have a home inspector examine your residence for any structural or other safety hazards. Replace or upgrade anything that is not up to current home standards.
6. Raise your deductible. A deductible is the amount of money that an insured person will cover up to for damages and the insurance company pays the remainder. Usually the higher a person’s deductible, the lower their premium.
7. Live in areas free from natural disasters. An area that is high risk of inevitable accidents often has higher home insurance rates on average. This could include places with frequent floods, hurricanes, tornadoes, tsunamis, earthquakes and anything similar.
8. Maintain a good credit score. Having a good credit history can sometimes lower premiums for almost any type of insurance depending on a company’s policy.
9. Buy a newly built home. In most cases homeowners insurance is less expensive for newer houses as opposed to older ones. The condition of a new home is generally better shape and less likely to need any repairs, therefore costing less to insure.
10. Compare quotes at InsuranceGofer.com. We allow users to compare home insurance quotes from many of the top companies in their area. This may help people save both time and money.