Home insurance is an important consideration anytime you are looking to buy a home. Most real estate agents will remind buyers to include it in their budget and consider it as a necessity right alongside the mortgage. That said, if your house is in good condition and you feel like you are needlessly throwing away extra money every month, it might be possible to take a second look at your policy and see if there are any ways you can lower your monthly premium. Here are three such ways you might be able to save a few bucks on your home insurance.
Add Features to Your Home
Plenty of home insurance companies offer discounts for homeowners who make improvements to their houses in a way that lowers risk for incidents like fires or weather damage. For example, you could install storm windows and storm shutters or redo your roof with more weather-resistant material. You may also be able to get a discount if you install a security system that can also alert the authorities in the event of a fire. Other discounts might include a sprinkler system or even something as simple as a deadbolt on your front door. But you won't know until you call your insurer and ask.
Improve Your Credit
When insurers go to set your initial rate, some may choose to pull your credit report. If your credit score is not very good or you have delinquent accounts, this could cause your monthly premium to go up. There are obviously a lot of reasons to start paying off your debts, but keep in mind that if you manage to get your credit under control, you should contact your insurer and let them know. They might be able to run your credit again, and if there is a significant improvement, you could see a reduction in your monthly payment.
Move Multiple Insurance Policies Under One Roof
Finally, if you currently have multiple insurance policies for different things like your car, boat, or life insurance, check and see if your homeowners' insurance company offers that same kind of policy. Many insurance companies offer significant discounts if you bundle multiple policies together. You'll be able to save money and also get the benefit of only having to deal with one insurance bill every month.
if your homeowners' policy is weighing on your mind due to what you perceive as a high premium, contact the provider today. Sometimes just asking if there are any other discounts available could save you money.
Share14 September 2018
I still remember the first time I had to chose an insurance policy; I was 17 years old and had just saved up enough money to afford my very first car. I was so excited to begin driving, but overwhelmed with all of the different auto insurance options. My father helped me chose a full-coverage policy that would cover the cost of my car if it were to become damaged in an accident. When I inevitably caused a small fender-bender as a new driver, my insurance company paid for my car repairs, so it sure was the best policy for me! Now that I am older and have learned a lot about home insurance and other types of insurance, I thought I would make a blog to help others who need insurance advice, like what my dad gave me. I hope I can help you make wise insurance decisions!